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Washington H. Soul Patts (ASX:SOL)'s merger proposal to create $10b investment giant
June 21, 2021 23:00 - 1000 KB22 Jun 2021 - Investment powerhouse Washington H. Soul Pattinson (ASX:SOL) is looking combine strength with industry peer Milton Corporation (ASX:MLT) in a merger that would form a $10 billion ASX-listed capital management giant. The payment package consists of a scrip consideration, as Soul Patts is offering new securities in the company to Milton’s shareholders. The proposal values Milton shares at a 1 dollar or 10 per cent premium to Milton’s closing price of $5 on Monday.
SILK (ASX:SLA) expands on its growth strategy, igniting a $20 million placement
June 21, 2021 07:00 - 1000 KB21 Jun 2021 - SILK Laser Australia (ASX:SLA) has finalised a $20 million placement for investors, with 4.7 million new shares at a discounted rate.
Stocks of the Hour: SILK & Incannex
June 21, 2021 06:25 - 1 minute - 1000 KB21 Jun 2021 - A snapshot of company news making headlines for the hour, featuring SILK & Incannex.
Stocks of the Hour: Bank of Queensland, Commonwealth & Boral
June 21, 2021 05:04 - 1 minute - 1000 KB21 Jun 2021 - A snapshot of companies making headlines for the hour, featuring Bank of Queensland, Commonwealth & Boral
Boral (ASX:BLD) further downgrades US footprint
June 21, 2021 04:00 - 1000 KB21 Jun 2021 - Construction materials manufacturer Boral (ASX:BLD) is accelerating the downgrade of the company’s footprint in the US market, having agreed to a divestment of the company’s North American production assets. Boral has accepted an offer worth $2.9 billion from US company Westlake Chemical to takeover Boral’s North American building products operations.
Commonwealth (ASX:CBA)'s $625m demerger to kickstart partnership with Hollard
June 21, 2021 01:00 - 1000 KB21 Jun 2021 - Banking giant Commonwealth (ASX:CBA) is set to offload its home and vehicle insurance division to South African-headquartered insurer Hollard Group. The transaction entails an upfront cash consideration of $625 million and undisclosed milestone-based add-ons. The deal will also pave the way for further collaboration between Commonwealth and Hollard Group, as the two parties plan to engage in joint investment opportunities in the insurance space.
Bank of Queensland (ASX:BOQ) receives green light to purchase ME Bank
June 21, 2021 00:15 - 1000 KB21 Jun 2021 - The Bank of Queensland has received the green light from the The Treasurer of the Commonwealth of Australia to proceed with its acquisition of boutique loans provider ME Bank. The approval was the only regulatory prerequisite for the transaction to follow through.
Stocks of the Hour: Woolworths, Betmakers & Bubs Australia
June 18, 2021 05:50 - 1 minute - 1000 KB18 Jun 2021 - The week's last snapshot of the companies making headlines for the hour featuring Woolworths, Betmakers & Bubs Australia.
BetMakers (ASX:BET) extends global reach via Sportech acquisition
June 18, 2021 04:45 - 1000 KB18 Jun 2021 - Online gaming developer BetMakers (ASX:BET) has taken its global expansion campaign to the next level, after finalising the takeover transaction for the tote and digital wagering platforms of London-listed Sportech.
Support for Woolworths (ASX:WOW)' demerger overshadows underpayment blunder
June 18, 2021 02:15 - 1000 KB18 Jun 2021 - Grocery retail giant Woolworths (ASX:WOW)’s spin-off of its liquor, hospitality and gaming arm has received overwhelming shareholder support.The company’s proxy vote on the demerger received 700 million ballots and found 99 per cent of participants in favour of the intiative. The event did not address the Fair Work Ombudsman’s potential lawsuit against Woolworths over the company’s alleged underpayment of $1.17 million to staff between 2018 and 2019.
Bubs (ASX:BUB) uses digital approach to kickstart US expansion
June 17, 2021 23:00 - 1000 KB18 Jun 2021 - Bubs Australia (ASX:BUB) is set to expand its consumer reach to the US market, utilising US-based e-commerce platforms walmart.com and Amazon. The move marks the infant formula manufacturer’s introduction to the market with annual turnover of 5.1 billion, as Bubs chooses the digital approach to kickstart its trading in the US market.
Worley (ASX:WOR) snaps up Californian & Canadian deals
June 17, 2021 06:15 - 1000 KB17 Jun 2021 - Global engineering provider Worley (ASX:WOR) has inked two services contract to provide services for a Californian renewable fuels plant and a Canadian Burnaby refinery.
Stocks of the Hour: Coles, Whitehaven Coal, Sonic Healthcare, Seven West Media
June 17, 2021 05:38 - 2 minutes - 1000 KB17 Jun 2021 - Our snapshot of company news making headlines featuring Coles (ASX:COL), Whitehaven Coal (ASX:WHC), Sonic Healthcare (ASX:SHL) and Seven West Media (ASX:SWM).
Challenger (ASX:CGF) waves flag for FY21 profit guidance
June 17, 2021 05:00 - 1000 KB17 Jun 2021 - Challenger (ASX:CGF) has reaffirmed its FY21 profit guidance and expects normalised net profit before tax to be at the bottom end of its guidance range of between $390 million and $440 million.
Increased audience base & advertising revenue lift Seven West Media (ASX:SWM)'s guidance
June 17, 2021 02:15 - 1000 KB17 Jun 2021 - Content producer Seven West Media (ASX:SWM) has released better-than-expected guidance for FY21 underlying profit of between $250 million and $255 million, which represents a premium of $10 million to $15 million on market speculation.
Sonic Healthcare (ASX:SHL) to purchase Canberra Imaging Group
June 17, 2021 01:00 - 1000 KB17 Jun 2021 - Sonic Healthcare (ASX:SHL) is set to acquire Canberra Imaging Group in efforts to expand their imaging division footprint in the country.
Coles (ASX:COL) upgrades innovation budget by $1.4 billion
June 17, 2021 00:15 - 1000 KB17 Jun 2021 - Grocery retail giant Coles (ASX:COL) is stepping up its innovation game, upsizing its digitisation budget by $1.4 billion in a bid to reclaim missed growth opportunities during the pandemic-induced panic buying. The new funding will bump up Coles’ total expenditure on technological advancement to $2.5 billion for enhance Coles’ automation and digital sales capabilities in the next two years.
Whitehaven Coal (ASX:WHC) trims FY21 production guidance
June 17, 2021 00:00 - 1000 KB17 Jun 2021 - Whitehaven Coal (ASX:WHC) has shaved its full-year production guidance to 20.4 million tonnes (Mt) from its range of 20.6 to 21.4 million tonnes after “downtime” in the Narrabri mine and a weaker performance at Gunnedah in NSW.
Victoria weather woes take toll on IAG (ASX:IAG)'s claims register
June 16, 2021 05:00 - 1000 KB16 Jun 2021 - Damages associated with the recent stormy weather conditions in Victoria have taken a toll on the insurance heavyweight’s expenses, as affected clients have flooded IAG’s claims register.
Regal (ASX:RF1) cleared off ASIC's radar
June 16, 2021 04:00 - 1000 KB16 Jun 2021 - Regal Funds Management (ASX:RF1) has been cleared off the radar of the Australian Securities and Investments Commission (ASIC), following a search warrant executed by the Australian Federal Police. The scrutiny into “trading in certain securities” has so far not detected any notable financial infringements by the $576 million. Hence, ASIC issued a formal notification today to Regal that “no enforcement action will be taken against Regal at this time”.
CSL (ASX:CSL) snaps up former Coke boss as board director
June 16, 2021 03:00 - 1000 KB16 Jun 2021 - Biotechnology giant CSL (ASX:CSL) has replenished its board ranks with the high-profile recruitment of Alison Watkins as a non-executive director.
Stocks of the Hour: Crown Resorts, Nuix, Archer Materials, Sequoia
June 15, 2021 06:20 - 2 minutes - 1000 KB15 Jun 2021 - A snapshot of the top news for the hour, featuring Crown Resorts, Nuix, Sequoia Financial Group and Archer Materials.
Recent acquisitions lift Sequoia (ASX:SEQ)'s FY21 profit guidance
June 15, 2021 05:50 - 1000 KB15 Jun 2021 - Integrated financial services provider Sequoia (ASX:SEQ) has made a second upgrade within two months to its guidance for FY21 underlying profit or EBITDA. The owner of this masthead has revised its forecast for EBITDA in the financial year from a range between $8.5 million and $9 million to approximately $11 million, representing an upgrade of between 22 and 29 per cent.
Archer Materials (ASX:AXE) to participate in $40b guided weapons programme
June 15, 2021 04:30 - 1000 KB15 June 2021 - The Australian Department of Defence has assigned NIOA’s subsidiary, the Australian Missile Corporation, to develop a guided missile programme for the nation, named the Sovereign Guided Weapons Enterprise (SGWE). Semiconductor manufacturer Archer Materials (ASX:AXE) has on Monday confirmed a deal with NIOA to design and supply semiconductor technologies to the guided missile system.
Nuix (ASX:NXL) to farewell two executives
June 15, 2021 01:15 - 1000 KB15 Jun 2021 - Troubled data analyst Nuix (ASX:NXL) has announced two new executive-level departures, in the wake of a problematic IPO followed by two consecutive guidance downgrades. The Macquarie-backed firm will farewell its Chief Financial Officer Stephen Doyle and Chief Executive Rod Vawdrey under mutual agreements.
Oaktree offers to provide $3.1 billion fund to Crown Resorts (ASX:CWN)
June 15, 2021 00:30 - 1000 KB15 Jun 2021 - US investment firm Oaktree has escalated the bidding war with The Star and Blackstone for beleaguered casino giant Crown Resorts (ASX:CWN), with a revised funding offer of $3.1 billion. The proposal promises to assist the $8.3 billion entertainment company in buying back Consolidated Press Holdings’ 36.8 per cent interest in Crown.
Stocks of the Hour: Domino's Pizza, Centuria & AMP
June 11, 2021 05:55 - 1 minute - 1000 KB11 Jun 2021 - A snapshot of the top news for the hour, featuring Domino's Pizza, Centuria & AMP.
QEM (ASX:QEM) to benefit from Queensland's $2b renewable energy subsidy
June 11, 2021 04:00 - 1000 KB11 Jun 2021 - The State Government of Queensland has announced a $2 billion stimulus package to support employment in the renewable energy and hydrogen sector, while also accelerating the region’s pursuit of sustainability objectives. Queensland Exploration Council chair Kim Wainwright has highlighted QEM as a direct beneficiary of the stimulus scheme, as the company’s Julia Creek project in Queensland hosts one of the world's largest vanadium deposits.
AMP (ASX:AMP) appoints new chief executive for capital management arm
June 11, 2021 01:30 - 1000 KB11 Jun 2021 - Financial services giant AMP (ASX:AMP) has found a new chief executive to lead the group’s capital management division, as former State Street Global Advisors chairman Shawn Johnson is set to take the helm at AMP Capital.
Centuria Industrial REIT (ASX:CIP) purchases 3 new properties
June 11, 2021 00:15 - 1000 KB11 Jun 2021 - Real estate powerhouse Centuria’s acquisition engine has been fired up this week, as its industrial property arm CIP has reached agreements to acquire $86.1 million worth of assets in New South Wales and Victoria. Centuria Industrial REIT’s three new purchases consist of a manufacturing facility in Broadmeadows, two distribution sites in Epping and Wetherhill Park.
Domino's Australia (ASX:DMP) to purchase Taiwanese counterpart
June 10, 2021 23:00 - 1000 KB11 Jun 2021 - Australia’s largest pizza maker Domino’s Pizza (ASX:DMP) is set to add Taiwan to its global portfolio of markets under its master franchise, pending regulatory approval. The world’s biggest Domino’s license holder has clinched a $79 million deal to acquire the assets and franchise license held by Domino’s Taiwan.
Stocks of the Hour: Centuria, Austal, Woolworths & NAB
June 10, 2021 05:45 - 2 minutes - 1000 KB10 Jun 2021 - Our snapshot of company news making headlines featuring Centuria Capital (ASX:CNI), Austal (ASX:ASB), Woolworths (ASX:WOW) & National Australia Bank (ASX:NAB).
Boral (ASX:BLD) calls for shareholders to reject Seven's (ASX:SVW) bid
June 10, 2021 05:30 - 1000 KB10 Jun 2021 - Boral (ASX:BLD) calls on their shareholders to reject a takeover bid from Seven Group Holdings (ASX:SVM). The company believes the $8 billion offer undervalues the company after the conglomerate offered $6.50 per share.
NAB (ASX:NAB) seeks ex-AUSTRAC boss' help to cope with compliance woes
June 10, 2021 03:30 - 1000 KB10 Jun 2021 - National Australia Bank (ASX:NAB) has sought specialist treatment for its anti-money laundering problem with AUSTRAC, and its prescribed therapy is the recruitment of the financial intelligence agency’s former executive Paul Jevtovic. Mr Jevtovic’s appointment as Executive Money Laundering and Reporting Officer will take effect from September.
Woolworths (ASX:WOW) receives nod from ACCC for $550m deal
June 10, 2021 02:00 - 1000 KB10 Jun 2021 - Grocery retail giant Woolworths (ASX:WOW) has secured regulatory approval from the the Australian Competition and Consumer Commission (ACCC) to acquire a 65 per cent stake in foods distributor and producer PFD.
ASIC prosecutes Austal (ASX:ASB) and former CEO
June 10, 2021 01:20 - 1000 KB10 Jun 2021 - Financial whistleblower ASIC has launched civil penalty proceedings against Austal (ASX:ASB) and its former chief executive David Singleton in the Federal Court of Australia on the company’s market disclosures with respect to Austal’s Littoral Combat Ship program before July 2016.
Centuria (ASX:CNI) splurges $224 mil for Melbourne office building
June 10, 2021 00:50 - 1000 KB10 Jun 2021 - Property dynamo Centuria Capital Group (ASX:CNI) is set to acquire a 14-level office building in Victoria for $224 million for its new unlisted ‘Centuria Government Income Property Fund’.
Iress (ASX:IRE) denies media speculation from investment bank
June 09, 2021 14:00 - 1000 KB10 Jun 2021 - Market platform provider Iress (ASX:IRE) notes media speculation today in The Australian Financial Review about market activity by investment bank Barrenjoey.
Dexus (ASX:DXS) to commit $180m to Australian Unity's raising
June 09, 2021 05:45 - 1000 KB09 Jun 2021 - Property investor Dexus (ASX:DXS) is poised to diversify its income streams and expand its footprint in the medical property market, following a partnership with medical investment firm Australian Unity. Australian Unity’s healthcare real estate division has reached an agreement with the 11.6 billion landlord to create a “platform relationship”.
Austal (ASX:ASB) lands second US Navy deal in a week
June 09, 2021 04:00 - 1000 KB09 Jun 2021 - Austal’s rebound from its two-month lows has received another stimulant, as the company has secured the second consecutive contract with the US Navy this week. The company has sealed a $57m deal with the world’s second largest naval fleet to design and produce an autonomous control system on a prospective Spearhead-class expeditionary fast vessel.
Woolworths (ASX:WOW) condemned for stance in Dan Murphy scandal
June 09, 2021 01:50 - 1000 KB09 June 2021 - An independent inquiry into Woolworths (ASX:WOW)’ cancelled development of a Dan Murphy store in Darwin has determined that the giant supermarket operator misjudged the proposed facility's detrimental impact on the indigenous community in the region.
Perenti Global (ASX:PRN) secures $648m copper project
June 09, 2021 00:50 - 1000 KB09 Jun 2021 - Diversified mining company Perenti Global (ASX:PRN) has secured a deal to operate and develop a copper project on a site owned by Sandfire Resources (ASX:SFR) in Botswana.
ASIC exercises mandatory data collection power on Macquarie Group (ASX:MQG)
June 08, 2021 05:45 - 1000 KB08 Jun 2021 - Macquarie Group (ASX:MQG) has come on ASIC’s radar, as the financial regulator is assessing the investment bank’s influence over the problematic $1.7 billion IPO of Nuix. ASIC has exercised its Section 19 power to require both Nuix and Macquarie to supply further documents and information for its investigation into concerns related to the software developer’s listing.
Superloop (ASX:SLC) to take over Exetel for $110m
June 08, 2021 01:00 - 1000 KB8 Jun 2021 - Telecommunications system developer Superloop (ASX:SLC) has revealed the company’s takeover bid for Australia’s largest independent internet service provider. The NBN provider has tabled a cash and scrip offer worth $110 million to acquire Exetel. The payment package comprises a cash consideration of $100 million and a $10 million interest in Superloop.
OM Holdings (ASX:OMH) to become dual-listed
June 08, 2021 00:05 - 1000 KB08 Jun 2021 - Manganese ore and ferroalloy company OM Holdings (ASX:OMH) is set to become a dual-listed company, following the green lights from Malaysian authorities.
NAB (ASX:NAB) alerted to anti-money laundering mishaps
June 07, 2021 05:00 - 1000 KB07 Jun 2021 - National Australia Bank (ASX:NAB) has come under scrutiny by the financial law enforcement agency. The big-four bank received a notification from AUSTRAC on June 4, highlighting allegedly questionable areas of NAB’s customer identification and due diligence processes. The addressed concerns represent potential breaches of anti-money laundering and counter-terrorism financing laws.
Austal (ASX:ASB) seals $4.7 million deal with US Navy
June 07, 2021 04:45 - 1000 KB07 Jun 2021 - Naval shipwright Austal (ASX:ASB) has sealed a $4.7 million deal with the US Navy to construct a Navajo-class steel vessel for the world’s second largest naval fleet. The deal is the first that Austal has secured with the US military to manufacture a steel ship. The milestone is the outcome of a $100 million revamp of Austal’s manufacturing facility in Alabama, which also received financial assistance from the US government.
Altium (ASX:ALU) rejects $5.05b takeover bid
June 07, 2021 03:45 - 1000 KB07 Jun 2021 - Electronics design software developer Altium (ASX:ALU) has turned down a takeover bid from US technology heavyweight Autodesk, claiming the proposal undervalued the ASX-listed firm.
SkyCity (ASX:SKC)'s anti-money laundering compliance under scrutiny
June 07, 2021 01:00 - 1000 KB07 Jun 2021 - The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced the enforcement agency discovered suspected violations of the anti-money laundering and counter-terrorism laws at SkyCity (ASX:SKC) ’s casino operations in Adelaide.
Stocks of the Hour: Rio Tinto, Centuria, The Reject Shop & Woolworths
June 04, 2021 06:20 - 2 minutes - 1000 KB04 May 2021 - A snapshot of the companies making headlines for the hour, featuring Rio Tinto (ASX:RIO), Centuria Capital Group (ASX:CNI), The Reject Shop (ASX:TRS) & Woolworths (ASX:WOW).