M&A

Prosecutors have discontinued an aiding and abetting charge against billionaire Clive Palmer over his resort company's breach of takeover laws.

Real estate developer AVID Property Group has matched an offer from Warburg Pincus to acquired holiday park operator Ingenia Communities.

The owner of an IGA store in Kalgoorlie has told a tribunal that Coles’ proposed acquisition of a nearby site will push it out of the market, leaving consumers worse off. 

Warburg Pincus has increased its offer to acquire Ingenia Communities after AVID Property Group lobbed a competing offer that valued the holiday park operator at $3.2 billion.

Clive Palmer's resort company Palmer Leisure Coolum has been fined $10,000 after pleading guilty to breaching takeover law arising from its proposed acquisition of The President’s Club.

Renewables developer Octopus Australia has reportedly agreed to put down $2 billion to acquire the Golden Plains wind farm near Geelong, one of the southern hemisphere’s largest wind projects.

Singaporean real estate investor OUE REIT is increasing its stake in 180 George Street, a 55-storey Sydney office tower whose tenants include Salesforce, TikTok and Jones Lang LaSalle.

Woodside Energy has shed its interest in the Sunrise LNG project, entering into an agreement with Timor GAP to exit the joint venture for $285 million (US$200 million).

AVID Property Group has moved ahead of Warburg Pincus in a contest to acquire Ingenia Communities, securing access to the housing and holiday park operator’s books with a $3.2 billion takeover offer that would also require Ingenia to abandon its acquisition of developer Peet.

Indian generics giant Sun Pharmaceutical has offered to grant Ferring Pharmaceuticals a licence to sell a generic version of its IVF drug to win ACCC approval for its $16.7 billion takeover of US-based Organon.