Good evening,

The ball is in IRESS’ court. Or is it in EQT’s?

EQT is understood to have lobbed a bit for IRESS, but it doesn’t seem to have been enough to get the tech company to open its books.

An experienced dealmaker, IRESS chairman Roger Sharp knows how to hold off an attack and that saying “no” is an option for the business right now.

With an investor day set for tomorrow, we’re sure its shareholders will be keen to hear not just how the company’s strategic review has progressed, but also what it makes of its position as a takeover target.

Elsewhere, there’s a $1.3 billion biotech capital raising bonanza taking place and we look at who’s next. Suburban wave park Urbnsurf scores the support of capital market types including JP Morgan’s Simon Ranson and Z Energy confirms it’s talking to prospective buyers, but ducks investor questions.

Happy reading,

Anthony Macdonald and Yolanda Redrup

Street Talk editors