The Capital Bite

Australian shares closed broadly unchanged on Monday at 8,679.70, while Northern Star Resources rejected an unsolicited takeover proposal from Gold Fields worth AU$7.25 in cash per share plus 0.3125 Gold Fields shares. The rejection saw Northern Star shares rise nearly 9% in morning trade. In other news, Reliance Worldwide is drawing interest from multiple suitors, including US-based Masco, and Peet's proposed acquisition by Ingenia Communities Group remains on track despite a revised proposal from Warburg Pincus. Australia's budget deficit for 2025-26 came in at AU$22.3 billion, or 0.8% of gross domestic product, which is AU$6 billion better than estimated. Iran said diplomacy is the only route to resolving its conflict with the US and Israel.

Northern Star Resources, Australia's largest gold miner, has rejected a $38 billion takeover bid from South African-based Gold Fields, calling the offer 'highly opportunistic' and undervaluing the company's assets. The board of Northern Star cited jurisdictional risks and operational concerns as reasons for rejecting the deal, which would have created the world's second-largest gold producer. The bid was made on September 14 and valued Northern Star at $38.7 billion, a 22% premium based on both companies' share prices. The rejection comes amid pressure from US-based activist investor Elliott Investment Management to consider a sale or asset divestments. Northern Star has appointed a new CEO, Suresh Vadnagra, who takes the helm next month.

South African gold mining giant Gold Fields has expressed interest in acquiring Australia's biggest gold miner Northern Star Resources, but was rebuffed by the company. The potential takeover would be a significant deal worth billions of dollars and comes as the global gold industry sees a multiyear rally in gold prices driving dealmaking. Gold Fields has been actively expanding its global footprint through acquisitions, including takeovers of WA gold producer Gold Road Resources and Canada's Osisko Mining over the past two years. The company's interest in Northern Star follows pressure on miners to maximise returns on their portfolios due to surging bullion prices and operational setbacks. Northern Star shares have fallen 17% this year, giving the company a market value of $31.5 billion.

Freo fans have flooded Melbourne for the AFL Grand Final, with no lock-in contract mentioned in relation to this event.

Adelaide University's merger into a single institution has been put at risk due to the university's failure to meet its international student targets, which were forecast to reach 6,000 additional students by 2034. However, statistics show that international student numbers have decreased by 20% since last year, with 16,677 individual international students enrolled in 2026 compared to 20,820 in the same period last year. The university blames federal government policy changes, including hiking student visa fees to $2,500 and introducing a soft cap on new international student enrolments, for its struggles. A projected revenue shortfall of $90 million has been revealed due to the decline in international student numbers. Professor Jessica Gallagher, Adelaide University's deputy vice chancellor, international and external engagement, said the policy changes have had 'a significant impact' on the university's attractiveness to international students.

Helloworld Travel Limited has announced plans to issue 23,429,610 fully paid ordinary shares as partial consideration for acquiring Crown Currency Exchange under a Share Sale Agreement. The share issuance is scheduled for 30 October 2026 and the AUD value of the consideration is $33,750,000. Helloworld believes the acquisition does not require shareholder approval under ASX Listing Rule 11.1 but has sought confirmation from ASX, with a decision due by 30 October 2026.

Emerald Resources-backed Manda Resources has completed the acquisition of North Queensland gold assets, including the Alice River Project and St George Gold-Antimony Joint Venture Project, for a combined global JORC mineral resource of 1.33 million ounces of gold. Tara French, with over 25 years of exploration experience, has been appointed as Manda's Chief Executive Officer. The acquisition is part of Emerald's growth strategy, which also includes its core operations in Cambodia and Australia. Emerald contributed $6.4 million to a $9 million pre-IPO capital raise for Manda, which aims to list on the ASX in late 2026. Following the IPO, Emerald plans to maintain approximately 19.9% of Manda's issued capital.

Australian shares are expected to rise on Tuesday following a decline in oil prices, tracking the S&P 500's 1.5% increase overnight. The ANZ-Roy Morgan Australian consumer confidence fell 1.9 points to 72 in the week of Sept. 14 to Sept. 20. Telix Pharmaceuticals (ASX:TLX) received waivers from ASX to issue shares more than three months after its extraordinary general meeting, contingent on completion of closing conditions and achievement of specific milestones. Broken Hill Gold completed a strategic demerger of its North Queensland exploration assets to Manda Resources. Australia's benchmark index closed flat at 8,731.90 on Monday.

Australian shares are expected to fall on Monday due to rising oil prices after the Houthis struck Saudi Arabia's capital of Riyadh, with Brent crude futures climbing nearly 1% to around $104 per barrel. Perpetual has rejected a further revised takeover proposal from EQT for AU$22.50 per share, while Ingenia Communities Group again rejected Warburg Pincus' offer at AU$5.05 per security. The rejections come after the companies' respective benchmark indices were flat to close on September 18. Perpetual's engagement process with EQT has concluded, and EQT remains open to engagement with Ingenia's board. The Minneapolis Federal Reserve President Neel Kashkari stated over the weekend that inflation is seen as too high across all sectors of the US economy.

Fremantle Dockers fans have been preparing for their team's second grand final in 32 years by gathering en masse to support them. The team produced a massive turnaround in the last quarter to defeat Sydney and secure their spot in the grand final. Fans are now making travel arrangements, with some driving over 1,000 km or flying to Melbourne for the match. Fremantle great Hayden Ballantyne is even organizing an alternative transport option, a bus trip across the Nullabor. The team's fans have been praised for their dedication and community spirit.

Australian shares are poised to rise on Friday after oil prices eased about 1% and the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average rose overnight. Forrestania Resources' takeover offer for Zenith Minerals remains open, while Macmahon Holdings acquired Aspect Engineering Solutions through a share purchase agreement. The ASX benchmark index closed at 8,732.40 on Thursday after rising 0.4%. Oil prices remained above $100 a barrel despite improving Saudi crude supplies.

Australian shares remained flat at 8,749.90, closing little changed despite rising oil prices and inflation fears. FleetPartners Group received three revised acquisition proposals, including AU$4.55 per share from SG Fleet Topco, AU$4.65 per share from Orix, and AU$4.65 per share from the Sumitomo consortium. The Australian consumer price index (CPI) is expected to rise 0.4% in August, increasing annual inflation to 4% from 3.5%. Cleanaway Waste Management's acquisition by EQT Infrastructure remains pending after its due diligence review. HealthCo Healthcare and Wellness REIT obtained the necessary support for transferring 10 Healthscope hospitals.

Australian shares are expected to rise on Monday due to increased oil prices following attacks in Saudi Arabia, which threatens up to 4% of global oil supply. This comes as FleetPartners Group received three revised acquisition proposals, including offers from SG Fleet Topco, Orix, and the Sumitomo consortium. Meanwhile, REA Group has reached a court-enforceable agreement with the Australian Competition and Consumer Commission. The Reserve Bank of Australia's Assistant Governor Sarah Hunter is also set to deliver a speech today. Yesterday, the S&P 500 gained 0.9%, while the Nasdaq Composite and Dow Jones Industrial Average each rose nearly 1%. Australia's benchmark index fell 0.9% on September 11.

The offer is to be a significant development in the Australian financial sector, given ASX's role as a major stock exchange operator. The scope of the offer and its potential impact on the company's ownership structure are yet to be determined.

This process can lead to significant changes in the company's ownership structure or even its operations.

The NFL takeover of Melbourne has moved up a notch, with American football boss Roger Goodell touching down on Wednesday and heading straight to a Leaders and Legends lunch. The event was attended by high-powered guests including Eddie McGuire, Foxtel's Brian Walsh, and Victorian Chamber of Commerce chief Sally Curtain. Los Angeles Rams president Kevin Demoff joked that the medical staff should 'don't screw it up' as the team prepares for their historic NFL match at the MCG on Friday. The Rams are not the only big names flying in for the event, with Gerry Cardinale, founder and CEO of RedBird Capital Partners, arriving in Melbourne on Thursday. A dinner was also held at Government House to welcome the NFL and competing teams to Melbourne.

Australian shares remained flat on Monday at 9,010.90, despite concerns over global oil supplies lifting crude prices to $96 per barrel. Meanwhile, Ingenia Communities Group rejected a AU$4.75 per security cash takeover proposal from Warburg Pincus, citing undervaluation. Bubs Australia secured permanent FDA approval for its infant formula products, while Corporate Travel Management and its former auditor face a potential class action alleging misleading investors.

Australian shares are expected to fall on Monday due to rising oil supply risks, following renewed US-Iran strikes and escalating tensions around the Strait of Hormuz. The Organization of the Petroleum Exporting Countries left its October output policy unchanged, limiting its ability to influence supply. Meanwhile, Ingenia Communities Group has rejected a AU$4.75-per-security cash takeover proposal from Warburg Pincus, deeming it 'substantially undervalues' the company. The ANZ-Indeed job ads report is due on Monday at 11:30 am Sydney time. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average fell 0.4%, 0.3%, and 0.5% respectively on September 4.

Australian shares are expected to rise on Friday, following gains on Wall Street after Federal Reserve Governor Christopher Waller signaled a patient approach to interest-rate cuts. This positive outlook has contributed to the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average rising by 1.1%, 1.4%, and 1.2% respectively overnight. In local news, Peter Warren Automotive (ASX:PWR) received approval from the Australian Competition and Consumer Commission for its proposed acquisition of Wakeling Automotive's new car dealerships, subject to conditions. Meanwhile, Brightstar Resources (ASX:BTR) reported a loss of AU$0.10 per share on revenue of AU$64.1 million for Friday fiscal 2026. Australia's benchmark index rose 0.5%, or 41.7 points, to close at 9,020.10 on Thursday.

Centrepoint Alliance has completed the acquisition of a 51% controlling interest in South East Queensland Advice Group, expanding its presence in the region and increasing its market share in financial advisory services.

The Australian Rugby League Commission has tabled a $57 million offer to purchase a 50% stake in the Super League, but Rugby League Commercial is instead seeking a £50 million loan arrangement after English clubs rejected the original offer. If the NRL takes over the Super League, Australian clubs may consider purchasing or partnering with English teams, potentially increasing their value under new management. The Roosters and Wests Tigers have expressed interest in potential acquisition opportunities, while others like the Raiders are open to partnerships that could benefit both parties.

Energy Fuels Inc. has completed its acquisition of Australian Strategic Materials Limited (ASM), a leading producer of rare earth elements and alloys. The acquisition adds 1,300 tonnes per year of existing neodymium-iron-boron alloy production capacity at the Korean Metals Plant in South Korea, along with commercial metallization capabilities for neodymium-praseodymium, dysprosium, and terbium. This complements Energy Fuels' oxide production and expansion initiatives at its White Mesa Mill in Utah. The acquisition also brings the Dubbo project in Australia to Energy Fuels' portfolio. Ross Bhappu, President and CEO of Energy Fuels Inc., stated that the acquisition strengthens the organization and accelerates its strategy to build a fully integrated mine-to-magnet rare earth platform.

The WWE has secured a deal to take over Perth's stadium until 2028, with no lock-in contract mentioned in the agreement.

Cook attacks Canberra takeover of WA gas industry

Sentinel Metals Limited has completed its acquisition of the 1.0 million ounce Big Springs Gold Project in Nevada, USA, as part of a transformational deal aimed at establishing a premier North American gold growth company. This move follows outstanding drilling success at the company's Columbia Gold Project in Montana and is led by experienced executives including Mark Williams, Matt Herbert, and Adam Ritchie.

Credit Corp Group Limited (ASX:CCP) has entered into a binding agreement to acquire HSBC Bank Australia's Australian credit card run-off book for approximately A$150 million, subject to regulatory approval and expected to complete in early calendar 2027. The transaction will increase Credit Corp's purchased debt ledger acquisition guidance to A$300-$380 million, with the company also upgrading its FY27 net profit after tax (NPAT) guidance to A$112-$120 million, representing approximately 10% earnings growth compared to FY26.

The ASX announcement reveals that a company has acquired its third all-age rental community in Western Australia, indicating an ongoing expansion strategy by the firm into the state's retirement living sector.

Swedish private equity firm EQT has acquired a majority stake in NRL club Melbourne Storm through a capital-raising process led by investment bank Jefferies to upgrade the team's headquarters and training facilities.

This headline indicates that C has made a takeover offer to acquire another company, which will be lodged electronically with the Australian Securities Exchange (ASX). The takeover offer is a formal bid by C to purchase a significant stake in the target company, and this notification is a required step under ASX regulations. This move suggests that C is seeking to expand its business through strategic acquisition.

Eureka Group Holdings (ASX:EGH) has entered into binding agreements to acquire Townsville Lakes Holiday Park in North Queensland for $6.75 million. The property comprises 110 sites, including short-stay cabins, powered ensuite sites and park-owned rentals. Eureka estimates that execution of its conversion strategy could generate an unlevered internal rate of return above 18.2%. The acquisition increases Eureka's all-age rental portfolio by approximately 8% and provides the company with a further regional housing asset in a market experiencing tight rental supply.

Lindian Resources Limited has acquired the remaining 49% interest in the SARECO operating hydromet facility for 100% ownership, following comprehensive due diligence and a recent A$100 million institutional capital raising. The acquisition includes two additional warehouses, further land, and associated assets, providing capacity for future expansion. Lindian now owns 100% of the facility, which is the only constructed and operational MREC/CLP Processing Facility outside of China. The facility has proven metallurgical performance with 96% overall NdPr recovery from Kangankunde concentrate to MREC, independently validated by ANSTO. The acquisition purchase price was US$20 million cash on a 100% basis.

Macquarie Technology Group Limited (ASX:MAQ) has announced the completion of a land acquisition, building on its existing infrastructure portfolio, which will support its growth strategy in the technology sector.

Service Stream Limited has completed its acquisition of RiE Group Pty Ltd, a specialist high-voltage electrical and instrumentation business operating in oil and gas, power generation, and renewable sectors. The deal was announced on May 25, 2026, and settlement took place on July 31, 2026, after all conditions precedent were satisfied. Service Stream said the acquisition expands its reach into these energy-related infrastructure markets. RiE Group's operations will now be integrated into Service Stream's network services operations. The company has a workforce of approximately 5,000 employees and access to around 10,000 specialist contractors.

Scalare Partners Holdings Limited has completed the acquisition of Fishburners, a well-known Australian startup accelerator and co-working space provider. This move strengthens Scalare's presence in the Australian tech ecosystem and expands its network of innovative companies. The acquisition is also expected to boost Scalare's balance sheet through the addition of new assets and revenue streams.