M&A

Elanor Funds Management's board on Friday unanimously recommended that securityholders reject the takeover offer and provided an expert independent report from Kroll Group that concluded the offer of $0.70 in cash per stapled security undervalued the fund.

Industrial battery manufacturer Battery Energy Power Solutions has boosted its security capability by acquiring Melbourne-based critical infrastructure asset manager accesstel.

Packing giant Pact Group, owned by billionaire Raphael Geminder, has won its bid to have two barristers cross-examine an expert for logistics and supply chain company TIC Group when their dispute over a $30 million earn out payment goes to trial in December.

A consortium led by the investment arm of Abu Dhabi's National Oil Company has dropped a $30 billion takeover bid for oil giant Santos.

Clayton Utz has snagged a senior partner from Allens’ mergers and acquisitions team to become its head of private equity. 

The ACCC has raised competition concerns about the proposed acquisition of Benedict Recycling by its "closest competitor" Igneo Infrastructure Partners, a subsidiary of Australian asset management giant First Sentier Investors. 

The ACCC has approved a deal that will see the assets of a unit of materials giant BGC Group sold to Cement Australia, Holcim, Heidelberg Materials Australia and Adbri, after worrying an initial proposal could affect the supply of ready-mix concrete in the Perth area.

Charter Hall has expanded its convenience retail portfolio, acquiring the Chullora Marketplace 14 kilometers southwest of Sydney's CBD for $145 million.

The competition watchdog has raised concerns that IAG’s proposed $1.35 billion acquisition of the RACWA's insurance operations could substantially lessen competition.

Ashurst has recruited the architect of Australia's merger reforms as companies prepare for the new regulations to kick in next year, and she tells Lawyerly businesses can expect a "well-prepared" ACCC.