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Credit Corp chief executive Thomas Beregi distanced his company from the escalating shareholder turmoil unfolding at takeover target Humm Group, but defended the fintech’s delayed disclosure of its $385 million buyout proposal.

“Our offer was confidential so we didn’t expect it to be disclosed at all, until we’d at least reached the next stage, if that was due diligence, or even beyond that,” Beregi told Capital Brief in the wake of his company's half-year results.

Veteran investor Anton Tagliaferro last week asked the Takeovers Panel to investigate the Humm board’s handling of Credit Corp’s 77 cents-per-share takeover offer, announced in December. The application echoed months of posturing from longtime activist shareholder Jeremy Raper, whose push for a board spill is set to go to a shareholder vote on 19 February.

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Market movers

Shares in Neuren Pharmaceuticals tumbled Tuesday after its US partner, Acadia Pharmaceuticals, received a so-called negative trend vote from European regulators on its application to market a Rett syndrome treatment, meaning they are leaning toward rejecting the application. The result triggered the day’s steepest fall among biotech stocks on the ASX.

The quick sync

• Brian Collins is leading Tasmania’s push to turn its startup sector into a unicorn-producing force. (Capital Brief)

• Wilson says oil trumps gold as the only true diversifier in today’s highly correlated markets. (Capital Brief)

• Labor used the 3.85% rate rise to deflect and expose the Coalition’s disunity. (Capital Brief)

• Spain plans to ban social media for under-16s and hold tech bosses liable, with Greece set to follow and Musk lashing out. (Reuters)

• ‘Get me out’: traders dump software stocks as AI fears erupt. (Bloomberg)

Trading floor

M&A

• NRW Holdings secured multiple new contracts, led by a $175m Rio Tinto earthworks deal. (Capital Brief)

• UBS seeks buyers for $200m-plus Australian waste firm Pure Environmental. (AFR)

• Credit Corp cautious on Humm acquisition, maintains FY26 guidance. (The Australian)

• Qantas exits Jetstar Japan, selling stake to Japanese investors. (AFR)

• SpaceX bought xAI as Musk eyes space-based AI infrastructure to solve power constraints. (Capital Brief)

• GrainCorp struggles, with takeover interest limited to Macquarie. (The Australian)

• BGH Capital buys cult sunglasses brand Two Svge. (AFR)

• Unified backs Qoria-Aura $3b merger, sees re-rating potential despite risks. (The Australian)

• Pinnacle Investment Management posted an 11% drop in first-half profit but is moving to fully acquire Pacific Asset Management for $418.8m. (Capital Brief)

• Scape eyes $1b Lincoln Place retirement business ahead of March sale. (The Australian)

• PEP’s bid for Prince of Wales Hospital delayed amid higher valuation. (AFR)

Capital Markets

• Credit Corp shares slump nearly 16% after flat earnings, despite management reaffirming full-year profit growth outlook. (Capital Brief)

• Caledonia posts zero half-year return as key co-investments slump. (AFR)

• Palantir stock surged after forecasting higher-than-expected revenue, with robust demand from US government clients powering results. (Capital Brief)

• Coinbase claims Australian banks are systematically debanking crypto firms. (AFR)

• Xero shares jumped as the company revealed ambitious AI-led growth plans and reaffirmed its outlook. (Capital Brief)

• OWNA targets $100m+ ASX IPO, hires Ophir PM. (AFR)

• CBA flagged accounting changes that will affect its half-year results presentation, without changing total profit. (Capital Brief)

• Funday Sweets will expand its natural confectionery range to include a “better-for-you” chocolate line, responding to market demand. (Smart Company)

• Neuren shares dropped after its Rett syndrome drug hit a regulatory setback in Europe. (Capital Brief)

• Investors favor Rio Tinto’s London shares amid Glencore merger talks. (AFR)

• The RBA raised rates but offered no forward guidance, staying data dependent amid uncertainty over inflation and future hikes. (Capital Brief)

• River Capital invests $80m in Tiwi Islands indigenous forestry carbon project. (AFR)

• AustralianSuper cuts ASX stake to 9.81%, selling 3.3m shares. (Capital Brief)

• KPMG Australia to outsource most executive assistants to the Philippines. (AFR)

• Credit Corp defends Humm board over delayed $385m takeover disclosure. (Capital Brief)

• French police raid X Paris offices; Musk and ex-CEO summoned over platform misuse. (Capital Brief)

• Wilson Asset Management advises choosing oil over gold for portfolio diversification. (Capital Brief)

• The Clintons will testify on 26 and 27 February in a US House probe into their Epstein ties. (Bloomberg)

• UK police launch criminal investigation into Peter Mandelson over allegedly leaking sensitive government files to Epstein. (FT)

• Trump and Colombia’s Petro meet after months of insults. No press, no breakthroughs, just a note saying ‘I love Colombia’. (Reuters)

• OpenAI has been dissatisfied with Nvidia’s inference chip performance since last year and is pursuing alternatives like AMD and Cerebras. (Reuters)

• OpenAI CEO Altman dismisses Moltbook as likely fad, backs the tech behind it. (Reuters)

VC 

• Brian Collins takes helm of Enterprize Tasmania to boost startups and aim for a unicorn. (Capital Brief)

People moves

• Telix chair Tiffany Olson resigned, with an interim chair appointed as the board seeks replacements. (Capital Brief)

• Former Westpac CEO Gail Kelly to face Senate over Optus Triple Zero outage. (AFR)

• Josh D’Amaro named Disney CEO; Iger to retire Dec 2026. (Capital Brief)

• PayPal shares plunge after CEO announcement, profit miss. (Bloomberg)

The watercooler