☕ Grad salary survey

Good morning. For the grads out there, make sure to check out the 2023 TAC Grad Salary Survey. It's open to all industries/professions so make sure to contribute so everyone benefits from a little more transparency in their life.

Good morning. For the grads out there, make sure to check out the 2023 TAC Grad Salary Survey. It's open to all industries/professions so make sure to contribute so everyone benefits from a little more transparency in their life.

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ps. if this was forwarded to you, you can sign up for LOI at letterofintent.com.au

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MARKET MOVERS

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

Market news: Wesfarmers now has another $700m in the kitty after selling its last 2.8% stake in Coles.

Not that Wesfarmers has a shortage of capital (or access to capital) the extra dosh might be a helpful kitty to tap into as they aggressively push into the health and pharmacy space.

Wesfarmers closed its acquisition of API — the owners of Priceline pharmacies — last year, and has since then resisted LOI's calls to see them rebrand as Wespharmas.

THE QUICK SYNC

  • Betr to cop $210,000 fine over 100-1 odds promotion. (SMH)

  • U.S. intelligence leak was by gun enthusiast in 20s. (RT)

  • EY UK warned to expect staff exits and cost cuts after failure of split. (Guardian)

  • SoftBank to sell VC firm to company led by Masayoshi Son's brother. (FT)

  • Nathan Tinkler’s life coach pursued him for $30k. (AFR)

  • UBS is moving too slow to keep Credit Suisse rainmakers. (AFR)

TRADING FLOOR

M&A:

  • Greencross is acquiring a Melbourne rival Habitat Pet Supplies. (AFR)

  • PointsBet appoints Moelis & Co to sell its North American business. (AFR)

  • Dexus is selling its office towers at 1 Margaret Street and 44 Market Street in separate sale processes. (AFR)

  • OZ Minerals shareholders have voted to accept BHP’s $9.6bn takeover offer. (AFR | BNA)

  • ACCC chairwoman calls for the introduction of a mandatory merger notification regime. (AFR)

  • Superist has acquired a half stake in your social for an undisclosed amount. (BNA)

  • Terminus pub is being sold by the private consortium owners for ~$15m. (SMH)

  • Scalare Partners has acquired the annual Australian Technologies Competition (ATC). (StartupDaily)

  • Blackstone set to star in sale process for TEG Group. (The Australian)

  • Quadrant is understood to be looking for bolt-ons for Jaybro. (The Australian)

  • Pact is understood to have called off the sale process for its crate manufacturing and pooling business. (The Australian)

  • Seven West Media and Foxtel combination is seen as logical by many but is questioned if conditions are right for such. (The Australian)

Capital Markets:

  • Sydney Airport and Telstra have both teed up roadshows for the coming week (AFR)

  • Ethical Partners is understood to be the seller behind two lines of McMillan Shakespeare stock. (AFR)

VC:

  • Circle In, an employee benefits platform, has raised $2m in a round led by Alberts Impact Ventures. (StartupDaily)

  • Ed Husic tips $4.6m in federal funding into quantum training. (StartupDaily)

Others:

  • Jarden cuts make around six positions redundant largely within the investment bank’s equities team. (AFR)

  • Aesop chief executive Michael O’Keeffe will remain with the business under L’Oreal ownership. (AFR)

TOGETHER WITH DEAL SHERPA

PE and VC professionals... want to help your portfolio companies unlock cost savings?

Like most companies, 2023's all been about finding those extra $ to add a little buffer in case the economy hits the skids.

So how do we help?

We negotiate major vendor agreements — things like your software / IT costs, courier expenses, equipment leases and more — so that you get the best price quickly and with zero headaches. Basically procurement-as-a-service.

Deal Sherpa lets companies focus on growing their business while we handle the tedious, painful back and forth with vendors to unlock savings.

And it costs nothing. We only take a clip of what we help companies save.

THE WATERCOOLER

Looking to hire someone that would read LOI?

Post your roles on LOI jobs board.