Sydney Airport leads M&A Monday; TPG mandates for Greencross; MacCap ramps up Findex

Good evening,

Sydney Airport has top billing for this week’s M&A Monday.

The airport owner is expected to confirm that the deadlock between itself and suitor IFM Investors’ Sydney Aviation Alliance is finally over.

After a two-month stand-off, Sydney Airport has granted the consortium a look at its books after the bidder increased its indicative offer to what we suspect was about $8.75 a share.

The fact Sydney Airport’s board rejected two bids before accepting the third is a pretty strong sign that it will sign on the dotted line at the new price, provided IFM Investors and its mates can firm up their indicative bid. That’s expected to play out in the coming month.

Elsewhere,TPG Capital has called in the bankers to prepare its pets and vets business Greencross for sale. Credit Suisse has landed the coveted mandate and, given the huge demand for pet-related businesses globally, TPG would have big expectations of a hefty pay day.

Finally, we’ve got our hands on MacCap’s pitch for Findex.

Happy reading,
Anthony Macdonald and Yolanda Redrup
Street Talk editors