☕️ Winners are grinners

After a wild Grand Final weekend, here are the winners of the LOI footy tipping comp

Good morning.

It was a GF long weekend for the ages. Congratulations to Edamameandchill who emerged victorious in the LOI footy tipping comp with a narrow two point margin ahead of Tim Cudlipp, with johnfjohnf in third, Andrew Keeghan in fourth and Notorious P.C.C and CLawrence tied for fifth.

If this is you, your cheques will be in the mail shortly, but please get in touch with us at [email protected] to confirm first.

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

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MARKET MOVERS

Market News: Coronado Global Resources was the weakest performer among the top 200 yesterday after the coal miner cut its guidance due to production issues at two of its mines on different sides of the planet (one Queensland and the other in Virginia in the US) for two very different reasons (mechanical failure and geological conditions). Only a week ago, privately held Czech energy group Sev.en acquired a 51% stake in Coronado from previous controlling shareholder EMG for an undisclosed sum.

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THE QUICK SYNC

  • Tesla has warned of a decline in quarterly production due to factory shutdowns for upgrades. (CNBC)

  • A late twist in Trump’s Truth Social merger, with new regulatory filings showing both sides are able to terminate the deal. (CNN)

  • FTX founder Sam Bankman-Fried prepares for the fight of his life in US trial. (FT)

  • Why a US recession is still likely — and coming soon. (Bloomberg)

TRADING FLOOR

M&A:

  • Monadelphous Group will acquire Melchor Contracting, a structural concrete business. (Capital Brief)

  • Aussie Broadband has enlisted the assistance of Goldman Sachs to prepare a discreet counteroffer for their target, Symbio. (AFR)

  • Cura Day Hospitals received non-binding indicative bids from at least four potential suitors. (AFR)

  • Spaceship is once again exploring the market for potential buyers with the assistance of North Ridge Partners. (AFR)

  • Gina Rinehart is actively attempting to disrupt the $6.6bn takeover of Liontown by the U.S. giant Albemarle. (SMH)

    • Analysts remain skeptical that Hancock Prospecting will submit a competitive bid for Liontown Resources. (The Australian)

  • Kin Mining's new leadership strongly indicated the company's readiness for sale in its recent annual report. (The Australian)

Capital Markets:

  • De Grey Mining saw its shares open lower after resuming trading, following a temporary halt for a $300m fundraising effort. (Capital Brief)

VC:

  • Neara, an energy sector digital twin startup, has raised $15.25m in an extension of last year’s $20m Series B round led by Prosus Ventures. (Startup Daily)

  • LaunchVic has reopened expressions of interest for the third cohort of its innovative 30X30 program. (Startup Daily)

Others:

  • Megaport has named Leticia Dorman as the Chief Financial Officer following her eight-month tenure as interim CFO. (Capital Brief)

  • Lithium prices have suffered a significant decline due to concerns about weakening demand in China. (Capital Brief)

  • Bruce Mathieson and Bill Wavish plan to address issues in retailing while avoiding Endeavour's pubs business, known as Australian Leisure and Hospitality. (AFR)

  • Medibank is contesting the privacy commissioner's investigation into a complaint from hacking victims. (SMH)

THE WATERCOOLER