Good evening,

It’s down to the short strokes at Sun Cable.

FTI Consulting and Moelis want to have a preferred bidder locked in this week.

Sun Cable’s warring investors Andrew Forrest and Mike Cannon-Brookes (and any other suitors still in there) would get 48 hours after Tuesday’s binding bids to convince Moelis that they should be the new owners of the company.

The auction has captured people’s imaginations, after public fighting between the two Rich Listers on Sun Cable’s underwater transmission cable. And so, bankers and investors would be waiting with interest to learn the winner’s name even though the company is expected to fetch only $100 million odd.

Elsewhere, Active Utilities was being checked out by Origin’s WINConnect among early tyre kickers, TPG’s Vision Network sale talks were alive with PEP, and listed liquor maker Top Shelf was putting the finishing touches on a recapitalisation.

Lastly, our straw poll of debt investors turned up not-so-rave reviews of Ramsay’s inaugural bond deal.

Happy reading,
Sarah Thompson, Kanika Sood, Emma Rapaport
Street Talk editors