Following a plethora of takeover bids and rejections, all eyes will be on the company earnings results in the coming four weeks to see whether earnings season can help end the M&A stand-off.
While target company boards are choosing to reject the first offer (and sometimes the second and third bid too) and keep their bidders at bay, spurned targets are hopeful that reporting season will bring a dose of reality and get bidders to the negotiating table. Sydney Airport, API and Oil Search all fall into that category.
In Street Talk tomorrow, we take a look at Caledonia (Private) Investments latest missive to investors, including its busy role in corporate activity in Australia and offshore.
We also get an update on the Optus telecommunications towers auction, and have spotted credit fund HPS seeking a buyer for one of its Australian investments.
Happy reading,
Anthony Macdonald and Yolanda Redrup Street Talk Editors
Sydney fund manager Caledonia (Private) Investments is doing its bit for Australia’s dealmaking set - and not just the stockbrokers busily trading its high conviction bets.
It’s brave faces and big smiles for Optus’ telecommunication infrastructure boffins, who have been pitching potential suitors for their professional lives while trying to help their current employer secure a $2 billion-odd payday.
Ord Minnett is understood to be pitching US logistics software company Dispatch to investors this week, selling its B2B proposition and the largest US market.
