☕ Last season

Good morning. To celebrate the latest (and last) season of Succession premiering last night, here's a fan-favourite YouTube parody... it's Succession but as a rom-com starring Tom and Greg.

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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: Despite rumours that Potentia and Tyro are potentia(lly) looking to get a deal done around $1.70/sh, its share price barely moved yesterday.

Tyro last knocked back a $1.60/sh before they opened up the dataroom to Potentia, so they're going to need to juice the bid at least a little to get support for the bid.

A $1.70/sh bid would mean there's 17% of upside left in Tyro's current share price.

THE QUICK SYNC

• Latitude confirms details of 14 million consumers stolen. (SMH)

• Russian ransomware hackers Cl0p send Crown ransom demand. (Australian)

• Banking Meltdown: Where the financial risk lies, in 12 charts (WSJ)

• First Citizens to buy large chunk of failed Silicon Valley Bank. (CNBC)

• Watch: Emmanuel Macron removes luxury watch during pensions interview. (YT)

• Jack Ma returns to China as the government tries to quell private sector fears. (RT)

• Explainer: How did live rounds get onto the set of Alec Baldwin's 'Rust'? (RT)

TRADING FLOOR

M&A:

• InVivo, a KKR-backed company, is expected to launch a $1.3bn buyout for UnitedMalt. (The Australian)

  • A European bidder is in takeover talks with United Malt Group. (AFR)

  • UMG is understood to be staring at a bid worth $4.80 to $5 a share. (AFR)

• Origin Energy’s suitors Brookfield and MidOcean Energy, have signed the binding deed for their $18bn deal. (AFR)

• Credit Suisse and Bank of Montreal to run an auction for Khoemacau Copper Mining with Sandfire, a potential buyer. (AFR)

• InvoCare declared a $1.8bn buyout proposal from TPG isn’t high enough. (AFR | BNA)

• Entain has been confirmed as the preferred bidder to buy the commercial rights of TAB NZ in a $NZ1bn-plus ($930m) deal. (The Australian)

• Cyara, a VC-backed Aussie startup, has acquired Irish communications testing company, Spearline in a deal worth up to US$100m. (AFR)

Capital Markets:

• Kingsgate Consolidated is seeking to raise $46m via an institutional placement. (AFR)

• Northern Star taps bond markets for $US600m. (AFR)

• Morgans is understood to have been meeting with investors for MoneyMe's $30m reset equity raising. (AFR)

VC:

• Cauldron, a precision fermentation startup, raises a A$10.5m round backed by Horizons Ventures and Main Sequence. (AFR)

• Lumiant, a financial advice fintech, has raised $5m in a Seed round. (StartupDaily)

Others:

• Antipodes picks up Magellan’s Vihari Ross as a portfolio manager. (AFR)

TOGETHER WITH ARCHIE ROSE

Founded in 2014 and located in Sydney, Australia – just a few kilometres south of the city – Archie Rose Distilling Co. is Australia’s most highly awarded distillery.

With conviction, Archie Rose strives to redefine Australia’s rich tradition in distilling by producing a diverse range of whiskies, including the award-winning

• Rye Malt Whisky awarded the World’s Best Rye Whisky at the World Whiskies Awards in London and the

• Single Malt Whisky, seven times awarded Australia’s Best Whisky.

Archie Rose also releases a range of limited-edition whiskies under the Trials & Exceptions and Harvest Whisky labels.

Explore Now

THE WATERCOOLER

THE TRADE

• Strategy & Corporate Development Manager — OFX (Learn More)

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