Good evening,

Another billion-dollar deal is brewing.

Western Areas has been in takeover defence mode for the past month, having found itself in the crosshairs of a deep-pocketed suitor. To get in the door, the would-be buyer would need to be willing to stump up at least a $1 billion bid.

The hot money has been chasing battery metals of late, so the nickel miner was sure to attract some interest. But, if a bid materialises, it would be a major blow for short-sellers.

Elsewhere, Lazard Australia is pitching Meridian Energy’s Australian renewable energy portfolio to potential buyers this week; Goldman Sachs, UBS and Citi were brought on to spearhead BHP’s unification; Packform gets set for a pre-IPO raise and South Australian body-care and fragrance company Cocco is up for sale.

Happy reading,

Anthony Macdonald and Yolanda Redrup
Street Talk Editors