M&A News

Healius, an Australian healthcare services company, has completed the sale of its Agilex business, clearing the way for potential acquisition by another entity as it seeks to restructure and focus on core operations.

Iress, an Australian financial technology company, has been put back up for sale after its previous deal with Blackstone collapsed a year ago. The move suggests that the company's valuation and ownership structure have been re-evaluated, potentially indicating a change in market conditions or investor appetite. This development is likely to attract interest from other potential buyers and strategic investors.

Ingenia Communities' board is considering a third offer from Warburg Pincus, an American private equity giant, after receiving two previous offers. The new proposal aims to initiate due diligence and has sparked lobbying efforts from investors who are pushing for the deal to proceed.

Agnico Eagle, a Canadian gold miner, has made an approach for Northern Star Resources, following the rejection of Gold Fields' bid for the Australian company. The move marks a significant development in the ongoing takeover battle for Northern Star, which is one of Australia's largest gold miners. Agnico Eagle's bid is seen as a credible alternative to Gold Fields' offer and may spark a bidding war for control of the company.

Ingenia Communities Group shareholders have called on the company's board to engage in discussions with a suitor that has made a new bid for the retirement village operator, following a previous failed attempt at a takeover.

Northern Star Resources has rejected an unsolicited takeover proposal from Gold Fields, which offered 0.3125 Gold Fields shares plus AU$7.25 in cash per share. The proposed acquisition would have seen Gold Fields acquire all of Northern Star's shares through a scheme of arrangement. Reliance Worldwide is also attracting interest from multiple suitors, including US-based Masco and Brookfield.

Private equity firm 38sth has signed its maiden deal, acquiring a minority stake in commercial plumbing maintenance business New Plumbing Solutions. The investment was led by Andrew Margetts and includes founder Jarryd Brigham and investor David Schultz rolling equity into the new structure. The parties involved are expected to remain involved in daily operations.

Ingenia Communities, an Australian retirement living and holiday parks operator, has received a third takeover proposal from Warburg Pincus, a US private equity firm, valued at A$5.25 per stapled security and approximately A$2.14 billion ($1.5 billion). The offer is conditional on Ingenia abandoning its planned acquisition of Peet for A$711 million and due diligence. The bidder has until October 2 to secure Ingenia's agreement. Ingenia shares rose as much as 8.7% in response, reaching their highest since January 29.

Australia's largest gold miner, Northern Star Resources, has rejected a $38 billion takeover bid from South African mining giant Gold Fields, calling it 'highly opportunistic' and undervalued the company. The proposed deal would have created the world's second-largest gold producer. Northern Star shareholders were offered 0.3125 new Gold Fields shares and $7.25 in cash for each share they own. The bid was made on September 14, but rejected by Northern Star's board due to jurisdictional risks and undervaluation.

Gold Fields has stated that its proposed deal with Northern Star can deliver $7.1 billion in synergies, according to The West Australian.

Northern Star Resources, owner of Australia's Super Pit gold mine, has rejected a $38.7 billion takeover bid from Gold Fields, citing that the offer fell short of its fundamental value and carried significant jurisdictional risk.

Warburg Pincus has submitted a third takeover offer for Ingenia Communities, valuing the company at over $3 billion. The private equity giant's latest bid is a sweetened proposal, following two previous offers this month. Shane Gannon-led board of Ingenia will now consider the new offer.

La Caisse, Canada's pension savings giant, is selling its 10% stake in WestConnex, Australia's most valuable toll road, valued at over $30 billion, through Macquarie Capital after the NSW government finalized its review of state toll roads.