Newcrest, Newmont free to talk | IP Generation chases backers for Melbourne shopping centre | InvoCare shareholder Spheria pushes board to open books to TPG
Silicon Valley Bank and Signature Bank and their bailouts dominated newsfeeds and water cooler discussions on Monday, although markets didn’t seem too worried about the potential for contagion across either the tech sector or wider.
In deals, it was quiet, with boards sitting on their hands to ride out the latest bout of volatility.
Four weeks after offering Newmont limited DD, it is understood the two parties have agreed all-important NDA and standstill agreement terms, paving the way for early-stage talks to play out.
It’s clear Newcrest would like a significant bump, and Newmont thinks it’s the only game in town. However, there are active shareholders on both sides keen to see a tie-up take place.
It remains to be seen whether the companies can agree to anything, but it will be taken as a good sign they’re talking.
Australia’s Newcrest Mining and suitor Newmont Corp have agreed terms for a round of early-stage takeover talks, ending a four-week standoff that threatened to spoil a potential $20 billion-plus deal.
Commercial real estate investor IP Generation is passing around the hat to bankroll its $300 million odd purchase of Craigieburn Central, a shopping mall located 30kms off Melbourne CBD which it has picked up in a “special situations” style deal off Lendlease.
The dust hasn’t settled yet at funerals provider InvoCare’s register after PE giant TPG Capital’s raid and follow-up bid last week, but one institutional shareholder that’s found its bearings is keen for the target board to open its books.