☕️ Dimon's warning

Good morning.

Jamie Dimon is viewed as the elder statesman of the US banking system, and more broadly, corporate America. The longtime CEO of banking behemoth JPMorganChase, who has been urged to run for president, doesn’t have any reason to talk down the US economy. So when he warns that we are entering “the most dangerous time the world has seen for decades’ it is worth listening.

The Israel-Hamas war and the ongoing conflict in Ukraine are obviously at the top of his concerns, at a time when interest rates are rising and the US fiscal deficit is ballooning.

*Stock data as of the market close. Commodities and crypto data in USD.

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MARKET MOVERS

Market News: Perpetual Investments was one of the stronger performers on a difficult day for the ASX with the broader market hit by US inflation concerns. The storied but more recently struggling fund manager managed to eke out growth in funds under management during the September, unlike some of its ASX-listed peers.

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THE QUICK SYNC

• Global markets brace for more volatility amid Israel conflict. (Bloomberg)

• Microsoft completes blockbuster Activision Blizzard takeover after UK removes final hurdle. (CNN)

• Taylor Swift’s Era’s tour film took in US$126 million at the global box office over the weekend - a new record for a concert film. (Reuters)

• If you’re ripping Michael Lewis’ book on Sam Bankman-Fried, you’re reading it wrong. (The Information)

• Ferrari will accept cryptocurrency as payment for its cars in the US.(Reuters)

TRADING FLOOR

M&A:

• Sky Network Television has engaged Jarden's services in response to receiving a non-binding indicative offer from an unidentified international bidder. (AFR)

• Bruce Mathieson was identified as the purchaser of a limited number of Star Entertainment shares that were traded on Friday. (AFR)

• Estia is reportedly one of the bidders competing for the acquisition of BlueCross Aged Care. (AFR)

• Atlassian has acquired Loom for US$975m($1.5bn). (Capital Brief)

• Aussie Broadband and Superloop are pursuing acquisitions as part of their expansion efforts to target corporate and government clients. (AFR)

• HMC Capital, led by David Di Pilla, has acquired additional shares in Ingenia. (The Australian)

• Tension is said to have been increasing in the relationship between Sun Communities and Ingenia Communities before the former decided to exit from the latter. (The Australian)

• It is understood that up to six parties are in the Cura data room as part of the first round of the contest. (The Australian)

• Stockland is reportedly at a standstill in its negotiations to acquire the Lendlease communities business. (The Australian)

• Link is restructuring its board following divestments and the demerger of Pexa. (Capital Brief)

Capital Markets:

• The Carlyle Group is one of seven contenders to provide Rugby Australia with a crucial financial boost following unsuccessful negotiations with private equity funds. (AFR)

• EQT Partners is seeking $500m in debt financing to support the acquisition of VetPartners. (AFR)

• Jon Adgemis is seeking to hoover up some of the debt held by lenders in Public Hospitality Group. (AFR)

• Bank of America, the exclusive lead manager for Cuscal, commenced the institutional bookbuild after finalizing indicative pricing. (AFR | AFR)

• Arbitrium Capital Partners conducted discussions with the owners of Levantine Hill for a possible $160m refinancing. (AFR)

VC:

• None

Others:

• CGI Glass Lewis has recommended that clients refrain from voting for the election of Bruce Mathieson backed Endeavour candidate Bill Wavish. (SMH)

• Fletcher has enlisted the services of Goldman Sachs and Macquarie Capital as defense advisers for its legal defense in the pipes matter. (The Australian)

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