Strap in, there’s another frantic M&A Monday coming our way.
Street Talk found a raft of deal makers busy at the weekend, working on everything from mega M&A deals, to private equity buyouts, cross-border bids and even one of the big consulting firms in a bolt-on acquisition.
We’re the first to admit we are a bit late to this party. Rumours have been flying about the two being in talks over BHP’s petroleum’s assets, but it’s been unclear exactly what they were.
Well, it turns out it’s the whole lot. Woodside is understood to want BHP petroleum in its entirety - Australian assets, offshore assets etc - and will offer up a big portion of the combined entity in a scrip-heavy deal to fund it.
The deal’s yet to be done, and as always there’s plenty that could derail it, but the two are due to report on Tuesday night and Wednesday morning, respectively, in what is the perfect window to tell us all more.
Elsewhere, IFM and its mates have lobbed a new $30 billion-plus bid for Sydney Airport, while a US strategic has swooped for Burnet Institute’s 360biolabs in a deal expected to give the medical research body a $300 million-odd payday.
Woodside Petroleum is in advanced talks to acquire BHP Group’s entire petroleum division in a $20 billion-odd deal that could define the futures of both companies.
Five V Capital has beaten a field of rival private equity firms and offshore strategic suitors to secure a stake in Australian cyber technology business Penten.
