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  • Mergers & Acquisitions | Business Spectator
    Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Mergers Acquisitions Singh behind key KKR deal Jeff Singh s Chase Corporate Advisory helped bring in KKR to secure the 130 million takeover of Centric Wealth by Brett Cole 1 09am January 13 1 comment Financial Index to buy Centric Wealth for 130m After the acquisition closes New York based KKR will take one third stake in Financial Index by Brett Cole 12 09am January 13 1 comment Global MnA slips to 3 year low A decline in private equity sales and trade sales was behind the weaker result despite a string of mega deals in 2013 according to Mergermarket by Amanda Saunders 5 45pm January 10 1 comment Saputo pushes for Bega s Warrnambool stake The Canadian dairy company is lobbying Bega in an effort to win its 19 per cent stake in Warrnambool by Brett Cole 12 05pm January 10 1 comment Shares in Kimberley Diamonds shine The owner of the Ellendale Mine has seen its shares surge this week sparking talk that another acquisition may be on the cards by Amanda Saunders 10 51am January 10 1 comment NAB UK exit expected soon Analysts forecast bank to divest UK assets as economic recovery takes shape by Michael Bennet The Australian 1 14am January 10 3 comments Hedge funds key to WCB fight Saputo looking beyond Bega and Lion for Warrnambool takeover support by Rebecca Urban The Australian 1 08am January 10 1 comment Saputo tipped to extend Warrnambool offer The Canadian company risks regulatory ire as it is yet to inform Warrnambool shareholders of a planned extension a day before the current offer expires by Brett Cole 12 00am January 10 6 comments Saputo s Warrnambool stake now 20 per cent The Canadian dairy suitor is now the biggest shareholder in the western Victorian dairy producer by Brett Cole 5 13pm January 09 1 comment Shell role underscores Merrill Lynch s Australian revival The investment bank is advising Shell on the sale of its Australian retail and refining businesses in a deal that may be worth as much as 3 billion by Brett Cole 1 26pm January 09 WRT investors say split costs 1 5 bln too much Institutional investors in Westfield Retail Trust want as much as 1 5 billion sliced from the cost of the proposed split of the Lowy family international and domestic shopping centre empires by Amanda Saunders 10 49am January 09 Shell bidders revealed report Dust settles on suitors for Aust petrol assets deal may be sealed next week 6 46am January 09 Super funds chase asset sales Large super funds look to accelerate pace of govt privatisations report 3 42am January 09 8 comments WCB merger claims disputed Murray Goulburn public benefit

    Original URL path: http://www.businessspectator.com.au/dataroom/mergers-acquisitions (2014-01-12)
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  • Breakfast Deals | Business Spectator
    Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Breakfast Deals DataRoom AM Float fatigue Cover More s disheartening debut has investors worried about the 2014 IPO market while the ACCC has concerns about Bluescope Steel s proposed purchase of Arrium s OneSteel Sheet and Coil business by Daniel Palmer 7 08am December 20 DataRoom AM Bega backdown Bega backs away from its WCB bid clearing the path for Canadian suitor Saputo while Dexus Property Group lands CBA s offices contract by Daniel Palmer 7 35am December 19 DataRoom AM IAG bounty Insurance Australia Group hopes to turn risk into reward with its Wesfarmers insurance buy while the IPO rush looks set to continue in 2014 by Daniel Palmer 7 30am December 17 DataRoom AM Qantas cold shoulder Qantas looks like it may have to fend for itself while GrainCorp s exiting boss gives the government a serve by Daniel Palmer 7 02am December 16 3 comments DataRoom AM Virgin booster shot Virgin Australia gets some help from its major shareholders while Transurban and AustralianSuper look to have joined forces in a bid for Queensland Motorways by Daniel Palmer 7 34am December 13 DataRoom AM Woodside s gas lag Woodside s Leviathan plans remain in the balance while Lion Nathan may be seeking a joint venture with Parmalat by Daniel Palmer 7 34am December 11 DataRoom AM TPG top up Investors are pleased TPG finally sealed the deal on acquiring AAPT while Amcor and Brambles get ticks of approval for their respective demergers by Daniel Palmer 7 29am December 10 DataRoom AM Qantas baggage drop A plane sale and leaseback option could straighten Qantas tailspin while Kirin Holdings may be looking to offload its National Foods dairy assets by Daniel Palmer 7 26am December 09 DataRoom AM Qantas tailspin Qantas pleas for help fall on deaf ears while Veda Group s strong debut on the ASX puts to bed concerns of IPO fatigue by Daniel Palmer 7 18am December 06 DataRoom AM Westfield makeover Frank Lowy takes Westfield Group in a new direction while Fairfax Media sends Stayz on a one way trip by Daniel Palmer 7 03am December 05 DataRoom AM Netting AAPT iiNet is rumoured to be in the race for AAPT while the big week of IPOs stumbles with Industria REIT by Daniel Palmer 7 14am December 04 DataRoom AM Saputo intolerance WCB shareholders hit back at their board s apparent Saputo favouritism while UBS is also a winner in Ansell s latest acquisition by Daniel Palmer 7 21am November 27 DataRoom AM Saputo s bittersweet bait Saputo s sweetened WCB bid could wind up at the Takeovers Panel while Dexus is far from out of the race for CPA by Daniel Palmer 7 21am November 26 DataRoom AM Determined Dexus Dexus lobs a counterbid to GPT s play for CPA while Woodside s Leviathan project may finally get the go ahead by Daniel Palmer 7 19am November 22 DataRoom AM Murray Goulburn

    Original URL path: http://www.businessspectator.com.au/dataroom/breakfast-deals (2014-01-12)
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  • DataRoom AM: Unclogging Clydesdale | Business Spectator
    get a better price this year Last year NAB boss Cameron Clyne told investors he would consider spinning off the UK business should the UK government s privatisation plans for its 33 per cent stake in Lloyds Banking Group be well received The British government has said it will offload the stake this year as the latest UK growth jobs and inflation numbers suggest an economic recovery has taken root Still M A activity remains subdued but as soon as it gathers pace which some market watchers argue is already occurring it would be a surprise if NAB didn t at least test the waters on a sale There have also been rumours that the improving economic conditions could lead NAB to be a buyer in the UK market but that seems a far fetched expectation given the troubles it has experienced in the region and the likely investor pushback NAB entered the UK market over two decades ago through the 1987 purchase of Clydesdale Bank It has since added to the unit with the purchase of the Yorkshire Bank It s not the only possible sale NAB could consider with some analysts suggesting part of its wealth management division MLC may also be up for grabs in the near term Nomura bank analyst Victor German told The Australian Financial Review that NAB may be wise to pursue the option of outsourcing its product manufacturing I can see a scenario where all banks not just NAB will potentially look to divest the underwriting businesses he told the paper MLC is one of the more obvious candidates They ve had some challenges this year coupled with under performance over the last decade At this point the rumours are little more than analyst exuberance and the UK business is more likely to be up for grabs before any part of the MLC business is hived off NAB acquired MLC for 4 56 billion at the turn of the century Warrnambool Cheese and Butter Bega Cheese Saputo Kirin Holdings Fonterra Murray Goulburn Saputo is widely expected to extend its bid for Warrnambool Cheese Butter today ahead of its current deadline expiring at 1900 AEDT The lack of communication about its plans has raised eyebrows however with reports the quiet approach may again see it receive attention from the Takeovers Panel It is rare for a company to wait to the day of a deadline to declare an extension to an on market bid but little about this long running saga has been normal Separately the Canadian dairy firm announced it had cleared the 20 per cent mark in acceptances meaning it is now the largest shareholder in WCB But there s still a long way to go to achieve a seemingly elusive majority shareholding Meanwhile rumours of Bega Cheese being chased by NZ giant Fonterra assisted the former s share price yesterday with Bega adding over 2 per cent in a broadly flat market Bega is one of the best candidates for a

    Original URL path: http://www.businessspectator.com.au/article/2014/1/10/dataroom/dataroom-am-unclogging-clydesdale (2014-01-12)
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  • DataRoom AM: Juicy deals | Business Spectator
    active with purchases of financial planning company IPAC Securities 2001 packaging hire company Loscam 2003 and most famously the buyout of Colorado Group 2006 The latter was a disaster with the clothing and footwear group entering receivership under the burden of heavy debts in 2011 Retail Zoo which also owns the Cibo Espresso and Salsa s Fresh Mex Grill franchises is being advised by UBS on the sale Warrnambool Cheese Butter Saputo Kirin Holdings Bega Cheese Parmalat Harvey Fresh Fonterra The deadline for Saputo s bid for Warrnambool Cheese Butter is just one day away and there s still no sign of an extension Expect some news on that front today with Saputo widely expected to stretch its offer deadline by a fortnight The Canadian dairy giant is working hard to convince major shareholders Kirin Holdings and Bega Cheese to sell their stakes though is finding that task challenging right now While Bega has indicated a desire to sell it has yet to decide who it will sell to Meanwhile Kirin told Business Spectator s DataRoom yesterday that it had no plans to sell its 9 9 per cent stake at this stage As we have discussed on several occasions the dairy consolidation goes far beyond the fight for WCB There have also been indications that United Dairy Power could offload part of its business WA based Harvey Fresh is considered likely to be in the sights of Parmalat and Bega Cheese is tipped to be the next target once the WCB battle is sorted In relation to the latter the AFR has reported that Fonterra which holds just shy of 10 per cent of Bega stock could make a bid for Bega When the NZ dairy firm bought into Bega last year it said it was just looking to claim a seat at the table should any bidder emerge but there are now suggestions it has been open about a desire to acquire Bega in conversation with some investors Nothing Bega or Fonterra have publically said suggest a merger is imminent but it would be a logical consolidation move for Fonterra If it does make a play though there might be plenty of other suitors ready to tip their hats into the ring It will be worth watching the share price of Bega today to assess whether the market is reading much into the reports The company s shares are already at a level where a takeover premium has been partly priced in ANZ Banking Group Wing Hang Bank It appears clear that ANZ Banking Group has once again lost out in an attempt to gain a foothold in the lucrative Hong Kong banking sector Last year ANZ was rumoured to be one of two banks chasing Hong Kong s Wing Hang Bank but speculation it dropped out of the race has now been confirmed with Wing Hang entering into exclusive talks with Singapore based OCBC The deal is likely to be worth upwards of 5 billion with ANZ

    Original URL path: http://www.businessspectator.com.au/article/2014/1/9/dataroom/dataroom-am-juicy-deals (2014-01-12)
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  • Economy | Business Spectator
    Economy Obama picks Fed vice chair 12 Jan 10 49 PM US President chooses former Bank of Israel boss as deputy to Janet Yellen US jobs growth slows sharply 11 Jan 12 37 AM Labor Department data misses expectations potentially complicating Fed s tapering plan Korea China jostle for Aust resources 10 Jan 3 59 PM Mining junior Rex Minerals among first to benefit from competition report China trade balance contracts 10 Jan 2 57 PM Official data shows surplus narrowed more than expected exports rise New home sales lift in November 10 Jan 11 45 AM HIA new home sales report shows growth rate hits two and a half year high Volvo Cars sales up in 2013 10 Jan 10 59 AM Swedish subsidiary of Chinese carmaker Geely see sales rise on strong China growth China s Fosun buys Portuguese insurer in privatisation 10 Jan 8 57 AM The Chinese conglomerate will acquire an 80 stake in the insurance arm of Portuguese state bank Robb casts doubt on handouts 10 Jan 7 15 AM Trade minister suggests company requests for funds may be met with deaf ear report Inflation lifts across OECD 10 Jan 4 17 AM Rate of price growth in advanced economies climbs to 1 5 per cent NAB UK exit expected soon 10 Jan 1 14 AM Analysts forecast bank to divest UK assets as economic recovery takes shape Fed s Yellen expects 3 growth 10 Jan 12 52 AM Incoming Federal Reserve chief admits recovery frustratingly slow report US jobless claims dip 10 Jan 12 49 AM Further signs of improved labour market with claims lower than forecasts Alcoa gives up on aid report 10 Jan 12 41 AM Firm won t seek govt funds for Point Henry smelter risk of closure rises ECB holds rates at 0 25 9 Jan 11 57 PM Mario Draghi hints at more stimulus if recovery continues to stutter BoE keeps rates steady 9 Jan 11 45 PM UK central bank maintains stimulus despite signs of economic recovery The Spectators Dwelling on housing growth is misguided Callam Pickering 10 Jan 10 46 AM 62 Dwelling investment will rise during 2014 but the shift towards cheaper less labour intensive high density housing means it will not be enough to offset the mining investment cliff The ECB is failing to do whatever it takes Callam Pickering 10 Jan 8 34 AM 16 The European Central Bank is too focussed on the long term outlook when eurozone countries need desperate and immediate relief Failing to cut rates last night will lead to further disinflation and slower growth Unemployment coming to a suburb near you Bill Mitchell Scott Baum 10 Jan 8 03 AM 96 With unemployment tipped to rise this year some Australian communities will be hit particularly hard including areas not usually associated with social disadvantage Australia is not the key to China s resource prison Peter Cai 10 Jan 7 12 AM 11 CITIC Pacific executives played on China s

    Original URL path: http://www.businessspectator.com.au/economy (2014-01-12)
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  • Australian News | Business Spectator
    Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Australian News Unemployment coming to a suburb near you With unemployment tipped to rise this year some Australian communities will be hit particularly hard including areas not usually associated with social disadvantage by Bill Mitchell by Scott Baum 8 03am January 10 96 comments Robb casts doubt on handouts Trade minister suggests company requests for funds may be met with deaf ear report 7 15am January 10 12 comments Alcoa gives up on aid report Firm won t seek govt funds for Point Henry smelter risk of closure rises 12 41am January 10 1 comment A fast to follow the spending binge The recent surge in retail sales makes the outlook brighter for employment but don t be surprised if it s just a temporary spike Spending growth could slow to 2 per cent in 2014 as households become more not less cautious by Callam Pickering 2 56pm January 09 13 comments MP stirs pot on SPC aid Sharman Stone hopes economic interest considered not just dogma 8 08am January 09 1 comment BCA plans new economic indicator Business Council of Australia Rio Tinto plan to develop Australian PMI 6 12am January 09 Business targets minimum wage Business groups pushing for modest or deferred increase to minimum wage report 5 48am January 09 3 comments Gas supply fears overhyped Little Envestra boss Ian Little suggests crisis talk is over the top report 5 03am January 09 2 comments Super funds chase asset sales Large super funds look to accelerate pace of govt privatisations report 3 42am January 09 8 comments Industry funds lead as super improves Figures show super fund members had their best year since 2007 in FY13 4 00pm January 08 Govts stare down 64bn windfall Infrastructure Australia analysis shows earnings potential of asset sales report 6 13am January 08 36 comments Homeowners lock in rates Data show borrowers keen on fixed rates as cash rate sits at record low 1 30am January 07 1 comment Business optimism at one year high Survey finds majority of businesses confident of higher growth in 2014 1 03am January 07 7 comments Sydney to avoid house bubble Price growth seen moderating recovery in new dwelling construction report 7 05am January 06 8 comments KPMG chair urges govt on costs Andrew says govt must address high taxes costs to encourage investment 3 48pm January 03 5 comments Govt failing on jobs pledge oppn Bowen says govt will fall short on job creation plans

    Original URL path: http://www.businessspectator.com.au/economy/australian-news (2014-01-12)
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  • Global News | Business Spectator
    cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Global News Obama picks Fed vice chair US President chooses former Bank of Israel boss as deputy to Janet Yellen 10 49pm January 12 1 comment US jobs growth slows sharply Labor Department data misses expectations potentially complicating Fed s tapering plan 12 37am January 11 5 comments The ECB is failing to do whatever it takes The European Central Bank is too focussed on the long term outlook when eurozone countries need desperate and immediate relief Failing to cut rates last night will lead to further disinflation and slower growth by Callam Pickering 8 34am January 10 16 comments Inflation lifts across OECD Rate of price growth in advanced economies climbs to 1 5 per cent 4 17am January 10 1 comment NAB UK exit expected soon Analysts forecast bank to divest UK assets as economic recovery takes shape by Michael Bennet The Australian 1 14am January 10 3 comments Fed s Yellen expects 3 growth Incoming Federal Reserve chief admits recovery frustratingly slow report 12 52am January 10 1 comment US jobless claims dip Further signs of improved labour market with claims lower than forecasts 12 49am January 10 ECB holds rates at 0 25 Mario Draghi hints at more stimulus if recovery continues to stutter 11 57pm January 09 BoE keeps rates steady UK central bank maintains stimulus despite signs of economic recovery 11 45pm January 09 Greece unemployment rate lifts Jobless rate now at 27 8 per cent no sign of recovery 11 39pm January 09 Eurozone confidence lifts Economic sentiment in region surged to two year high in December 11 04pm January 09 Tinker taper the Fed s cautious path Many within the Fed believe its QE program is becoming less effective as time wears on But future bumps in the tapering process mean it s prudent for the Fed to keep its options open by Callam Pickering 9 35am January 09 8 comments Athens 2014 is not Sarajevo 1914 The centenary of World War I will see many commentators looking to draw parallels between the political ructions of today s Europe and the calamity that led to the Great War It should not be used as justification for failing European integration by Oliver Marc Hartwich 7 03am January 09 9 comments ORIGINAL TEXT Fed minutes The following statement was released by the US Federal Reserve 6 33am January 09 Fed taper due to jobs growth minutes Minutes of board meeting

    Original URL path: http://www.businessspectator.com.au/economy/global-news (2014-01-12)
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  • European Crisis | Business Spectator
    cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu European Crisis The ECB is failing to do whatever it takes The European Central Bank is too focussed on the long term outlook when eurozone countries need desperate and immediate relief Failing to cut rates last night will lead to further disinflation and slower growth by Callam Pickering 8 34am January 10 16 comments NAB UK exit expected soon Analysts forecast bank to divest UK assets as economic recovery takes shape by Michael Bennet The Australian 1 14am January 10 3 comments ECB holds rates at 0 25 Mario Draghi hints at more stimulus if recovery continues to stutter 11 57pm January 09 BoE keeps rates steady UK central bank maintains stimulus despite signs of economic recovery 11 45pm January 09 Greece unemployment rate lifts Jobless rate now at 27 8 per cent no sign of recovery 11 39pm January 09 Eurozone confidence lifts Economic sentiment in region surged to two year high in December 11 04pm January 09 Athens 2014 is not Sarajevo 1914 The centenary of World War I will see many commentators looking to draw parallels between the political ructions of today s Europe and the calamity that led to the Great War It should not be used as justification for failing European integration by Oliver Marc Hartwich 7 03am January 09 9 comments Greece to claim EU presidency Rotating presidency to be assumed by recession hit Greece 5 51am January 09 US urges German investment Treasury Secretary calls on Germany to further drive eurozone recovery 3 06am January 09 EU in talks on bank rules Eurozone looking toward new bank regulatory system in wake of crisis 1 40am January 09 UK house prices up 7 5 Price growth for 2013 a sign of economic recovery in Britain 11 50pm January 08 Eurozone jobless unchanged Unemployment rate remains near record highs retail sales offer hope 11 45pm January 08 German unemployment stable Major eurozone economy sees rate hold steady at 6 9 per cent 11 41pm January 07 Eurozone inflation dips again December inflation slips back to 0 8 per cent all eyes on ECB 11 39pm January 07 The international economy in 2014 2014 will present brighter prospects for the US and UK although some fiscal adjustment is needed Volatile capital flows will trouble emerging economies and debt forgiveness will be needed for a European recovery by Stephen Grenville 7 42am January 07 20 comments German inflation lifts Inflation creeps higher in December stays below 2 per cent 12 29am January 07 UK Treasury to

    Original URL path: http://www.businessspectator.com.au/economy/global-news/european-crisis (2014-01-12)
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