☕ Whisky business

Good morning. After 2 weeks of tipping, @Pat Dillon is just edging out the pack in the LOI tipping comp. Plenty more weeks to go, and you can still join the LOI comp (email us) if you have already been tipping via footytips.com.au.

Good morning. After 2 weeks of tipping, @Pat Dillon is just edging out the pack in the LOI tipping comp. Plenty more weeks to go, and you can still join the LOI comp (email us) if you have already been tipping via footytips.com.au.

Also, for the whisky lovers, check out our sponsor for the week Archie Rose.

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ps. if this was forwarded to you, you can sign up for LOI at letterofintent.com.au

LOI Subscriber #TBD

MARKET MOVERS

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

Market news: The Hindenburg report ended up wiping off about US$5bn in value to the dual-listed ASX company. 

Despite trying to calm investors with its own response, the fact that Hindenburg managed to create fake debit cards with the name Donald J Trump and an account by the name of Elon Musk seemed to shake investor confidence. 

Block is now worth US$36.5bn, which is only slightly more than the US$29bn it paid for Afterpay in scrip back in 2021.

THE QUICK SYNC

  • Tech tycoon bids $6m over reserve at ‘auction of the year’. (Australian)

  • Lithium in short sellers’ sights as Hindenburg blows up tech stock. (SMH)

  • Deutsche Bank shows first signs of financial distress. (ABC)

  • The White Lotus effect: HBO and Netflix are deciding where you’ll take your next vacation. (SMH)

  • Sibling of Adani's founder played key role in activities questioned by U.S. short seller; yet company says brother had no managerial role. (WSJ)

  • Elon Musk offers employees stock grants valuing Twitter at about $20 Billion. (RT)

  • Putin says Moscow to place nuclear weapons in Belarus, US reacts cautiously. (RT)

TRADING FLOOR

 M&A:

  • Perpetual and Tanarra Capital declined to support Australian Clinical Laboratories-Healius deal. (AFR)

  • Origin Energy’s suitors will fly into Australia to sign their $18.2bn takeover and start the necessary regulatory approvals. (AFR | The Australian)

  • Chalice Mining is due to push out its mooted resource update and smoothed the path for M&A. (AFR)

  • CBA is carrying out exclusive due diligence to buy trade and debtor finance business ScotPac. (The Australian)

  • Tyro Payments and Potentia Capital have ramped up talks about a binding bid at more than a 70% premium. (AFR)

  • Bain Capital has lobbed a $3 a share bid for Estia Health. (AFR | BNA)

    • Estia Health raises eyebrows with UBS appointment over Bain’s $775.2m takeover bid. (The Australian)

  • Lynch Group has held talks with potential buyers for the China business. (AFR)

  • BHP is understood to have attracted between 15 and 25 parties interested in its two Queensland coal mines for sale. (The Australian)

Capital Markets:

  • Idemitsu has cornerstoned a $20m odd raising from Vecco (AFR)

  • La Trobe Financial was warming up investors for its first RMBS deal for the year. (AFR)

VC:

  •  None

Others:

  • Bankers fret after Credit Suisse’s rapid capitulation to rival UBS. (AFR)

  • Affinity Equity Partners poached Nick Speer to head up its Australian team. (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.

THE WATERCOOLER

THE TRADE

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

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