Good evening,

Can we get a price check on The Reject Shop?

Profit warnings from some of Australia’s highest-profile retailers have not deterred an overseas suitor.

Street Talk understands Canadian discount chain Dollarama has approached The Reject Shop, the ASX-listed discount retailer whose largest shareholder is billionaire businessman Raphael Geminder’s Kin Group. Sources said UBS was assisting on defence.

It is unclear when Dollarama approached The Reject Shop, but sources with knowledge of the discussions said they continued for some time this year.

Staying in the bargain bin, we hear things have stalled at the Barrenjoey-advised sales process for Betr. Sources said Entain had walked away from talks to invest about $40 million in the News Corp-backed wagering group.

News Corp had invested about $50 million in the company, which only launched last year and is backed by high-profile businessman Matthew Tripp.

Elsewhere, we spotted Investa in the early stages of a selldown process for three build-to-rent projects worth about $1.5 billion, and confirmed a lengthy timeframe on the Real Pet Food Co sales process.

Finally, Robbie Vanderzeil didn’t stay hidden for long. The ex-Jarden chairman has popped up at David Di Pilla’s HMC Capital.

Happy reading,
Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk editors