Good evening,

After the deal of the year – if not the decade – was announced on Monday, a further $1 billion of Afterpay shares changed hands on Tuesday.

The frenzy has been tipped to continue all week, as offshore funds buy up positions of domestic fund managers and take short positions in suitor Square.

Banks are scouting for any rival bidders, but it’s hard to see one will materialise.

Turning our attention to the retail sector, department store Myer is mounting its defence.

Bulking up for a battle with Solomon Lew, Myer’s board is understood to have turned to wily investment banker Ron Malek and his firm Luminis Partners for help with its defence strategy.

It has also retained Clayton Utz as its law firm, for what is sure to be an onslaught of legal letters, with renowned gunslinger Jeremy Leibler of Arnold Bloch Leibler in Lew’s corner.

Elsewhere, AMA Group is considering its funding options; Karst Peak and Brian Flannery have bought into StraxCorp and Elliott Green Power has scored council approval for another battery, as preparations for a sale continue.

Happy reading,

Anthony Macdonald and Yolanda Redrup

Street Talk Editors