Good evening,

The cat fight between BGH Capital and CapVest continued on Thursday.

CapVest was busy reminding people how BGH didn’t mention the UK firm’s (higher) offer in its bidder’s statement to Virtus shareholders but, as it turned out, BGH had done nothing wrong.

Right now, BGH’s got a 19.99 per cent stake (which it would obviously vote against a CapVest scheme) but CapVest’s got the higher offer, though there’s some tax nitty gritty for shareholders to think about.

Minds are also turning to how Virtus’s sizeable shareholders Paradice Investment Management and Yarra Capital management would vote.

If either was to choose to vote down the CapVest scheme, they would give BGH enough firepower to block at least the scheme component of CapVest’s dual-mode bid.

Elsewhere, IFM Investors has capped off a private equity investment in digital networks business Render; listed debt collector Pioneer Credit is understood to be working on a deal with Collection House; and start-up Samsara Eco is running a $50 million raise.

Happy reading,

Yolanda Redrup, Sarah Thompson, Kanika Sood and Anthony Macdonald
Street Talk Editors