This Month
GFG Alliance’s bills mount as the Whyalla Steelworks begins to strain
The South Australian government says it is important not to “create a panic” even as some suppliers to the Sanjeev Gupta-run business lodge default notices.
- Simon Evans and Elouise Fowler
Listed manufacturing player Amaero upsizes raise
The company’s initial ask was for $20 million, but it received bids for nearly $45 million, sources said.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Quadrant’s electronics maker Circuitwise looks east for acquisitions
Circuitwise has inked a share purchase agreement with Nautech Electronics, another electronics manufacturer that has been in business since 1989.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Top Shelf’s cash woes give shareholders one hell of a hangover
With just 1.9 quarters of funding left in the bank, Street Talk understands everything is on the table.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Orora sells US business for $1.78b to private equity-backed group
Chief executive says it is better off as a specialist glass bottle and aluminium can maker, and is unclear if Lone Star will return with another buyout bid.
- Simon Evans
August
Ellerston, Bondi’s 1941 Fund backs Australian navy boat builder
Street Talk understands Sydney-based The Whiskey Project has pinned down $5 million to assist with its US expansion and boost its local manufacturing facility.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Will Lone Star juice up its bid for Orora? Shareholders discuss
Street Talk understands shareholders are debating whether the US private equity firm will come back with a $2.70 offer.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Environmental protection
‘Circular economy’ to be examined by Productivity Commission
The government has asked its economic adviser to explore ways to cut waste going to landfill and encourage the more efficient use of raw materials.
- James Eyers
Ansell declares PPE glut over, sheds almost 10pc of its staff
Shares in the medical gloves group jumped as the chief executive confirmed 1330 jobs had been cut as it ramps up automation.
- Simon Evans
- Updated
- Earnings season
Booming Chinese demand not enough to stave off a2 Milk share slump
The company has warned revenues will grow far below the pace expected by investors this year after challenges finding product for the lucrative export market.
- Updated
- Carrie LaFrenz
BlueScope warns of rough time for ‘Team Australia’ on China slump
CEO Mark Vassella says steel spreads have tumbled by more than half as China mills flood the market, and the tough conditions will hit profits hard in the first half of 2024-25.
- Simon Evans
The beef baron, the waste magnate and the battle for Brisbane
A bustling weekend farmer’s market on the city’s fringes has emerged as a battleground in a stoush between two industry titans.
- James Hall
A2 Milk strikes peace deal with Synlait, sending shares sharply higher
The agreement will allow the company to manufacture its infant formula for the first time, with investors hoping for wider margins and better returns.
- Carrie LaFrenz
Investment bankers (but not Barrenjoey) feast on Orora
This was a boring company, offering boring but profitable returns. And then, it went and blew its brains out.
- Myriam Robin
Rio Tinto and Queensland strike huge aluminium rescue pact
Taxpayers may spend hundreds of millions of dollars keeping the Boyne aluminium smelter open until 2040 under a deal struck by Rio and the Queensland government.
- Peter Ker
Orora mulls $2b-plus US asset sale, says strife in Europe just a blip
But the glass bottles and cans manufacturer slashes returns to investors after managing a rise in net profit of just 0.2 per cent over the financial year.
- Simon Evans
Adviser gigs emerge on all sides of Orora melee
Citi, which assisted with a $1.35 billion equity raising last year for Orora, is on defence.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Orora confesses to Lone Star approach, eyes on Apollo
Apollo dealmakers and CEO Marc Rowan have ramped up their visits to Australia, and cut the ribbon on a Sydney office a few years ago.
- Sarah Thompson, Kanika Sood and Emma Rapaport
‘Trifecta of awfulness’ by Orora led to $3.3b bid
Orora’s shares soared 19 per cent after it rejected a buyout proposal from private equity firm Lone Star because it “materially undervalues” the company.
- Simon Evans
Lone Star makes its presence known to target Orora
Orora has dusted nearly $400 million from its valuation since splashing out $2.2 billion to buy France’s Saverglass last September.
- Sarah Thompson, Kanika Sood and Emma Rapaport
