☕ Rate day

Good morning. It's interest rate day today, so we've got what we think is the ultimate sentiment predictor for what the RBA will do with our Linkedin Poll. We can only imagine Phil Lowe will be monitoring the results closely.

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MARKET MOVERS

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

Market news: The prophecy of AFR columnist Adir Shiffman may be about to come true with BWX officially entering voluntary administration. 

Just 18 months ago, BWX paid $89m to buy a 50% stake in Go-To — the beauty line founded by Zoe Foster-Blake. 

Now BWX is in administration and looking to sell off its stake in Go-To — meaning Zoe Foster-Blake could keep the $89m and end up rebuying 100% of the business for far less than the original stake sold.

THE QUICK SYNC

• Aussie regulators turn up the heat on Binance; world’s biggest crypto exchange. (AFR)

• RBA poised to hold interest rates in pre-Easter relief for home buyers. (SMH)

• Porter Davis customers to learn fate ‘within the week’. (AFR)

• Australian Grand Prix in talks with Vic Andrews government on night race. (Australian)

• Oil prices surge 8% after OPEC’s surprise output cut. (CNBC)

• WWE near deal to be sold to UFC parent Endeavor, sources say. (CNBC)

TRADING FLOOR

 M&A:

• Wanda Cinema has Credit Suisse and Nomura hunting for a new Hoyts owner. (AFR)

• ADIA puts a half share of ~$3bn worth of Aussie logistics estates on the market. (AFR)

• Albemarle woos Liontown investors as it continues to buy what it can at $2.50/sh. (AFR)

• Coles has snapped up two milk processing facilities from Saputo Dairy Australia for $105m. (AFR | BNA)

• BHP’s clause giving it rights to all the nickel produced by Mincor Resources is another potential complication for Wyloo. (AFR)

  • Mincor shareholders will likely buy into the $752m takeover bid by Wyloo. (The Australian)

• The Financial Planning Association of Australia and Association of Financial Advisers are expected to complete their merger. (AFR)

• Whitehaven Coal has bought Bis Industries’ coal haulage business in the Gunnedah region of NSW. (AFR)

• Authentic Brands Group (ABG) is poised to buy surf brands Billabong and Quiksilver. (AFR)

• Carsales has bought advertising tech company Publift. (SMH)

• BP is negotiating to buy Shell’s stake in Woodside’s Browse gas export project. (SMH)

• Bain Capital and Avenue Capital Group are understood to be hanging around BWX. (The Australian)

  • BWX's Go-To business will be sold separately after its collapses. (SMH)

• Mosaic Brands has placed EziBuy into administration. (The Australian)

Capital Markets:

• Frontier Digital Ventures is raising $12m to help square off earnouts from past acquisitions. (AFR)

• Tribeca Global Natural Resources is handling a shortfall offer to wholesale investors. (AFR)

VC:

• FLAIM, a firefighting virtual reality training startup, has raised $6.7m in a Series A with Breakthrough Victoria taking a minority stake. (StartupDaily)

• Start-up investment craters, more lay-offs to come, Cut Through Venture investor survey finds. (The Australian)

Others:

• Rothschild banker Lisa Zhong would start at RBC in June as a director. (AFR)

• Jefferies Australia has made $36m of total comprehensive income for the year to November 30. (The Australian)

• Wisr lays off one-fifth of its workforce. (AFR)

• Irongate is back in the property game with a $2bn suite of development plays. (AFR)

TOGETHER WITH ALLIANCE ADVISORS

Alliance Advisors is an independent corporate advisory firm that supports public and 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.

For more information, please contact Brendan Henry on [email protected]

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