Good evening,

You'll want to pour yourself a glass of red for this next deal.
Tonight, we reveal which party has its nose in front to buy 143-year-old Aussie wine business McWilliam's Wines, which has been in receivership since February.

Two proposals are on the table, but it's the one backed by an offshore investor that looks to be the frontrunner.

Meanwhile, we sink our teeth into what hedge funds, shareholders and lawyers are making of the spate of takeover schemes falling over due to the pandemic.

And finally, we've got an update on Matthew Grounds' "mini UBS" plans and unveil which Morgan Stanley dealmaker has risen through the ranks.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd

Street Talk Editors