☕ M&A giveaway

Good morning. We're revamping The Quick Sync section to focus more on the main headlines for each day. Let us know what you think.

Also, don't forget to email the folks at Alliance Advisors to win a couple of free tickets to the Mergermarket M&A conference (more below)!

ps. if this was fowarded to you, sign up here > letterofintent.com.au 

LOI Subscriber #TBD

MARKET MOVERS

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

Market news: Downer EDI's CEO has a tough couple of weeks of investor meetings ahead of him after dropping a terrible HY earnings report.

Just a couple of months ago, the company flagged accounting irregularities, leading to a 20% hit to the share price. Now, the company reported a 20% decline in profit, cut its full-year guidance and more than halved its dividend.

THE QUICK SYNC

⚖ Challenging earnings outlook weighs on market (Australian)

🤔 The story of the work hard, party-hard culture at Macquarie in the lead-up to the GFC (Australian)

💻 Government proposes plan to allow IT systems to be taken over following cyberattacks (AFR)

🏭 China is hungry for Australian coal again (SMH)

👨‍✈️ Qantas CEO succession planning heats up (SMH)

🚚 Supermarkets hit as trucking / logistics company suddenly collapses (Australian)

👀 Another one of China’s tech rainmakers vanishes a la Jack Ma (SMH)

🔪 Twitter lays off yet another round of staff (RT)

TRADING FLOOR

M&A:

• Nitro Software's shareholders are waiting until Thursday to get the official board recommendation for Potentia Capital. (AFR)

• Premier Investments has bought up another 3% stake in Myer. (AFR)

• Anchorage has tapped McGrath Nicol for a voluntary administration of Scott’s Refrigerated. (The Australian|AFR)

  • Toll and Lindsay are believed to have already held talks about a potential acquisition of Scott’s Refrigerated. (The Australian)

• Recharge Industries has closed the deal to buy Britishvolt. (AFR)

• CoreLogic has acquired Victorian technology company, Plezzel. (StarupDaily)

• Qube is believed to be signalling that acquisition of Brookfield's stake in Patrick Terminals was on its agenda. (The Australian)

• Cleanaway is believed to be zeroing in on a potential acquisition of Repurpose It from Downer. (The Australian)

• Paramount shuts down talk it is considering closing Channel Ten. (SMH)

• Australian Retirement Trust poised for more super fund mergers. (The Australian)

Capital Markets:

• Gascoyne has put a $50m recapitalisation plan to investors. (AFR)

• Hillgrove Resources was asking fundies to chip in $35m. (AFR)

• CBA has kicked off the syndication of a $225m debt facility to fund Retail Zoo’s buyout. (AFR)

• IPO markets are expected to warm back up in the second half of 2023, according to HSF. (AFR)

VC:

• Infradebt Energy Transition Fund, a specialist fund focused on funding finance grid-scale battery projects has received the backing of Mike Cannon-Brookes via Grok Ventures. (StartupDaily):

Others:

• Bank of America's Joe Fayyad will hand the responsibility of its local investment banking team to Dan Janes. (AFR)

• New Holland is understood to have hired Channel Capital to show its Tactical Alpha strategy to local investors. (AFR)

TOGETHER WITH ALLIANCE ADVISORS

Alliance Advisors is an independent advisory firm that supports public & private companies with strategic shareholder & investor advisory services through our global network.

We Go Beyond, from development to execution of bold, client-first strategies, resulting in winning outcomes.

Join us at the Mergermarket M&A Conference in Sydney on Thursday 16th March, where we have a pair of tickets to give away!

📢 To enter the draw:

• Send your business card/contact details to Brendan Henry on [email protected].

The winner will be drawn on Friday 10th March.

THE WATERCOOLER

THE TRADE

• Investment Associate, Ventures — IAG (Learn More)

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