☕ Fresh cuts

Good morning. Word on the street is that Jarden may be doing (or has already done) another round of cuts in their IB team based on submissions to The Aussie Corporate + this AFR article.

Good morning. Word on the street is that Jarden may be doing (or has already done) another round of cuts in their IB team based on submissions to The Aussie Corporate + this AFR article. Let us know if you know anything.

FYI we'll be off tomorrow for Anzac Day.

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MARKET MOVERS

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

Market news: Whitehaven dropped its quarterly report, showing the cash printing machine-generated $1.2bn of cash from operations in just 3 months.

That takes its net cash position to a massive $2.7bn, despite having already returned $1.3bn of capital to shareholders via dividends and buybacks this FY.

THE QUICK SYNC

  • Macquarie caught between crisis and opportunity. (AFR)

  • Opinion: I’m a law graduate, but my uni didn’t prepare me for the real world. (AFR)

  • Offshore wind developers hold consolidation talks as deadline looms. (AFR)

  • Lachlan Murdoch’s stoush with Crikey not over yet. (SMH)

  • Twitter blue tick: Multiple Hillarys and New Yorks as verifications disappear. (CNN)

  • Alphabet CEO Sundar Pichai’s compensation topped $200 million in 2022. (CNBC)

  • Bed Bath & Beyond files for bankruptcy protection after failed turnaround efforts. (CNBC)

TRADING FLOOR

 M&A:

  • TPG Capital has formally pulled its takeover offer for InvoCare. (AFR)

  • Alium Capital's Boost Lab merges with tbh Skincare via a $5m Series B raising. (AFR)

  • Crescent Capital kicks off 24-7 Healthcare's sales process triggered by the unsolicited, inbound interest for the company. (AFR)

  • Cochlear’s $170m takeover of Danish competitor Oticon Medical has been knocked back by the UK competition regulator. (BNA)

  • Freightways is pointed as the likely acquirer of Direct Couriers. (The Australian)

  • Insurance Australia Group is back in talks with RACQ about acquiring its insurance business. (The Australian)

  • Macquarie joins the competition for Alinta’s assets. (The Australian)

 Capital Markets:

  • Mesoblast has Bell Potter lining up another cash injection with raising talks starting at $37m. (AFR)

VC:

  • None

Others:

  • Quadrant's hospitality business, Pacific Hunter has launched a portfolio review of its retail leases. (AFR)

  • QPM Energy CEO says the timing of the safeguard mechanism reforms was “fortuitous” for the company. (AFR)

  • MacCap banker Uyi Ighodaro has jumped ship to join Harrison AI. (The Australian)

THE WATERCOOLER

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