Good evening,

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.

However, Street Talk’s found some movement in the biggest deal in the market, with Newcrest Mining and Newmont Corp getting closer to eyeballing each other across the negotiating table.

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.

Elsewhere, we have a new raising for a Melbourne shopping centre purchase, a meaningful update at InvoCare and another chunky funding deal at AirTrunk.

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