Good morning,

After a tough year, the market is rightly fired up about deals at the big end of town – Chemist Warehouse-Sigma, Perpetual-Washington H. Soul Pattinson and Woodside-Santos – but don’t forget about the little guys.

On Tuesday, Street Talk spotted a big line of trade in Centrepoint Alliance – a financial advice licensee, lending and investment solutions microcap.

The company is being closely monitored by rival COG Financial Services, which scooped up a 19.99 per cent stake last month after its bid for ASX-listed licensee services group Diverger fell through.

Eager beavers could have seen this coming. Alex Waislitz’s Thorney Investment Group is a major shareholder in both companies, holding around 26 per cent of Centrepoint and a good chunk of COG. COG is yet to make a bid for Centrepoint, which itself was the subject of a takeover bid from Diverger last year.

Street Talk understands Sandy Beard’s investment company Hancock & Gore was the seller, disposing of a portion of its holdings in the company. The identity of the buyer remains unknown – though we know it is not COG, who are precluded from buying any more (yet) under the creep rule. It could be an interloper on the scene or an arb fund positioning ahead of a possible takeover.

One to keep an eye on as consolidation in the financial services sector heats up.

Happy reading,

• Loscam shareholders go around the auction block – once again
• HMC Capital opens back door to Sigma-Chemist Warehouse deal
• Men’s health player Mosh appoints adviser to explore exit options
• Two operatives exit Baker McKenzie’s capital markets team
• Firetrail bulks up investment team
• Rinehart-backed Arafura launches cash call, two brokers on ticket

• James Packer buys up $US80m stake in Ten owner, Paramount Global, writes Primrose Riordan.

Sigma popped 68 per cent to $1.27 per share at the open on Wednesday before paring gains to $1.04 at the closing bell.

Click here for the latest equity market wrap.