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- ☕ Just beat it
☕ Just beat it
Good morning. Meta beat, Microsoft beat, Google beat... maybe it's not so bad after all. Collectively these three have now added US$350bn+ to their market caps since reporting. Not a bad way to end the week.
Collectively these three have now added US$350bn+ to their market caps since reporting. Not a bad way to end the week.
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MARKET MOVERS
*Stock data as of the market close. Commodities and crypto data in USD.
Market news: After multiple rumours over the last week, Blacmore's revealed that Kirin (of beer fame) has made a $95/sh bid for the company.
Blackmore's was all the rage ~5yrs ago when its vitamins were being cleared from shelves, dumped into suitcases and sent off to China — sending its shares to over $200 a piece. But it's struggled to regain that hype ever since the pandemic shut down borders — trading mostly in the $60-80/sh range.
THE QUICK SYNC
Airtasker makes 20pc of employees redundant. (BNA)
Moccona’s $22b maker sues Australia’s Vittoria over glass jar. (SMH)
The $105b call: Microsoft seething as biggest tech deal in history is blocked. (SMH)
Meta shares pop 12% after company reports first sales increase in four quarters. (CNBC)
Deutsche Bank logs 11th straight quarterly profit, reveals job cuts. (CNBC)
BP braces itself for shareholder revolt after scaling back its climate targets. (CNBC)
TRADING FLOOR
M&A:
Japan's Kirin lobbed an acquisition bid for Blackmores (AFR | BNA)
Fortescue is set to acquire Western Australia’s Rawlinna Station from Jumbuck Pastoral. (AFR)
Our Cow purchases Brisbane Valley Farm Direct's online business for an undisclosed sum. (BNA)
The NSW government has picked the Endeavour Energy consortium as its preferred bidder for the first Renewable Energy Zone in Central-West Orana. (AFR)
British antitrust regulators blocked Microsoft’s $US69bn ($105bn) purchase of Activision Blizzard. (SMH)
Large-scale M&A could be off the table at Rio Tinto for now. (The Australian)
Capital Markets:
AMA Group is understood to have hired Grant Samuel to assist with its plan to refinance its debt. (The Australian)
VC:
Eucalyptus, the brand builder of health tech startups, has raised another $50m at a $560m post-money valuation. (AFR)
Clean Energy Finance Corporation (CEFC) tips an additional $100m into the ACT-based renewables financing firm Infradebt. (StartupDaily)
Others:
Dan Ritchie will step aside to become Macquarie Capital Equities’ chairman. (AFR)
Perpetual says its Pendal acquisition would generate an additional $20m in annual savings by cutting even more jobs across the combined entity. (AFR)
UBS is believed to have started making a play for the Credit Suisse investment banking talent. (The Australian)
THE WATERCOOLER
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