☕️ On the run

Binance exec escapes custody in Nigeria.

Good morning.

Nigeria’s tax authority hit Binance with four new charges tax evasion overnight, tied to allegations that the world’s largest crypto exchange handled US$26 billion ($39.8 billion) in untraceable transactions days before two Binance executives visiting the country were detained. Tigran Gambaryan and Nadeem Anjarwalla, who have been detained since late February (after being invited to meet officials in the country), were identified as defendants in the case. The British-Kenyan Anjarwalla managed to escape custody on Friday, after asking guards at the guest house where he was being held to let him to go to the mosque.

ASX as at market close. Commodities and crypto in USD.

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Market movers

Shares in MMA Offshore surged over 10% to close at $2.60 during trading yesterday, after the ASX-listed vessels owner agreed to a takeover by Seraya Partners subsidiary Cyan Renewables. The deal, which values MMA at approximately $1.03 billion, represents a 31% premium to the company's 90-day volume weighted average share price, and a 91% premium to the its net tangible asset value. MMA said that through its acquisition, Cyan intends to retain MMA’s workforce and to utilise and expand its expertise, assets and operating model.

The quick sync

  • Canva has reportedly agreed terms to buy UK graphic design business, Affinity, in a deal which could be announced as early as today. (AFR)

  • Telstra’s group technology executive reveals the telco’s most ambitious artificial intelligence project to date. (Capital Brief)

  • Major banks and retailers extend emergency funding to Armaguard to keep the cash transport firm alive. (AFR)

  • The European Commission has opened non-compliance investigations against Alphabet, Apple and Meta under its sweeping new Digital Markets Act (DMA). (Capital Brief)

  • Long duration batteries may be the “Swiss Army Knives” of the energy transition, but uncertainty around the timetable is putting investors and lenders on edge. (Capital Brief)


  • Major MMA Offshore shareholder criticises proposed acquisition bid as 'cheap and opportunistic'. (AFR)

  • Perpetual's $1b-plus corporate trust unit sale draws final bids, as suitors face anxious Easter wait. (The Australian)

  • Vitality Brands has agreed terms to acquire New Zealand natural beauty player Essano. (AFR)

  • Knight Frank and Bayley Corporation have joined forces to acquire McGrath for $95.5m. (BNA)

  • OreCorp's board backs Perseus Mining's $270m bid post-Tanzanian approval. (AFR)

  • ALS Limited has agreed to acquire full control of the troubled European pharmaceutical research and development business Nuvisan. (Capital Brief)

  • BWP Trust is nearing 60% ownership of Newmark Property REIT, thereby clearing the path for the merger. (AFR)

  • Healthscope shifts focus to the NorthWest Healthcare meeting after engaging with HealthCo last week. (The Australian)

  • VC firm Square Peg tops $1b in returns to shareholders, and plans to go to market for its sixth fund in H2 2025. (AFR)

Capital Markets

  • Vintage Energy is currently in discussions with investors for an equity raise as Keybridge Capital's stake in the ASX-listed oil and gas explorer has increased. (AFR)

  • Clarity Pharmaceuticals is planning a $110m equity raise amid a rally in its share price. (AFR)

  • EV maker, Fisker, entered a trading halt on Monday after announcing that its talks with a large automaker for a potential deal have collapsed. (Capital Brief)

  • Tritium faces delisting from the Nasdaq as it fails to meet minimum price requirements amid struggling shares. (BNA)

  • Future Battery Minerals is seeking equity funding to facilitate the acquisition of Coolgardie Nickel Pty Ltd. (AFR)

  • Amaero International returns to the market, seeking a $20m equity injection. (AFR)

  • Zimmermann sales reached $500m last year, but rising wages and material costs pushed the Australian designer brand into a $27.3m loss. (AFR)


  • Blackbird Ventures adjusts the valuation of its prominent later-stage startup investments amid challenging market conditions. (AFR)

  • Forever Network to drive US expansion with $6m Series A funding. (Capital Brief)

  • Commonwealth Bank of Australia joins $72m Series A2 for UK regtech startup GSS. (Capital Brief)

People moves

  • Morgan Stanley has appointed former Goldman Sachs managing director Michael Ginzburg to lead its investment banking business in Melbourne. (AFR)

  • CEO of Boeing, Dave Calhoun, will step down at the end of 2024, as the embattled aircraft maker launches an executive reshuffle in the wake of a mid-flight cabin door blow-out in January. (Capital Brief)

  • Platypus Asset Management names Jelena Stevanovic as CEO. (BNA)

  • Fletcher Building's CEO Ross Taylor will depart this week. (Capital Brief)

☝️ Know about a deal or people move we don’t? Hit reply.

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