Good evening,

You could have heard a pin drop around brokers’ desks on Monday. It was the slowest trading day so far this year. Just $4 billion worth of stock changed hands ahead of Tuesday’s RBA meeting. And unlisted markets were as quiet, as valuations, and bull and bear cases dance around.

The only other deal worth talking about was Sky Network Television’s bid for Kiwi outdoor advertising company Mediaworks. It’s owned by Oaktree and Quadrant, and has agreed to exclusive talks with Sky.

The business’s got $NZ204 million revenue for the year ending December 31. It had also been thinking of an IPO for the second half.

Elsewhere, fund managers were trying out Galileo Mining for an M&A fit for IGO, and Humm Group’s investors were fielding more calls than the usual proxy advisers’ staff.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors