☕ M&A tickets

Good morning. For the M&A junkies... there's an M&A conference in a couple of weeks in Sydney where the good people at Alliance Advisors have a couple of tix to give away to LOI readers. It's worth a few thousand bucks, so scroll down for the details.

February 27, 2023

Good morning. For the M&A junkies... there's an M&A conference in a couple of weeks in Sydney where the good people at Alliance Advisors have a couple of tix to give away to LOI readers. It's worth a few thousand bucks, so scroll down for the details.

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: Infomedia, the autotech company, clocked a 39% increase in their net profit while growing recurring revenue by 11%.

Once upon a time (aka last year), the company had 3 bidders trying to take the business private for around $1.70 a share. They ultimately ended up with no final offers. It's unlikely those same bidders are likely to come back any time soon despite these strong results.

TRADING FLOOR

M&A:

  • Bankers and lawyers are lining up for Pengana's battle for E&P private equity funds'. (AFR)

  • Newcrest and Newmont will both pitch for institutional investors this week while their merger talks continue. (AFR)

    • Newmont chief has started engagement with Newcrest on its offer for access to non-public information. (AFR)

  • Circuitwise, an electronics maker has hired E&P dealmakers to help find a PE backer. (AFR)

  • Lightsource bp is testing buyer interest in five Australian renewable projects via MacCap. (AFR)

  • Bids for TPG Telecom’s Vision Networks are believed to be due next week with two contestants expected. (The Australian)

  • Adbri's major shareholder Barro Group could be looking to take the company private. (The Australian)

Capital Markets:

  • Potential Ventia block share sale with Apollo and Cimic testing waters. (The Australian)

  • Gascoyne Resources is expected to seek about $30m in a heavily discounted equity raising (AFR)

  • Palisade tapped Macquarie Capital to source funds for GigaComm. (The Australian)

VC:

  • Four Australian startups that raised $58m this week (SmartCompany):

    • DataMesh, a payment SaaS startup, has secured $30m in Series A led by NAB Ventures;

    • Chronicle is coming after PowerPoint with a $7.5m funding round led by Square Peg Capital and Accel;

    • MGA Thermal has received $560,000 in seed funding from Shell.

Others:

  • Ashok Jacob is stepping down as the CIO of Ellerston Capital. (AFR)

THE QUICK SYNC

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:

The winner will be drawn on Friday 10th March.

THE WATERCOOLER

THE TRADE

  • Investment Associate, Ventures — IAG (Learn More)

Looking to hire someone that would read LOI?

Post your roles on LOI jobs board.