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  • Bankers cool on MnA deal outlook for 2014 | Business Spectator
    year or about US 84 21 billion in the year to date according to Bloomberg data This year had a very slow start in M A that continued through the first three quarters Sweetman told DataRoom Deal activity has lately picked up and that may continue into next year though I m not sure overall volumes will differ much in 2014 compared with 2013 UBS is the number one ranked M A adviser in the year to date advising on 25 announced or complete deals worth US 21 98 billion according to Bloomberg In the last three months UBS advised Westpac Banking Corp on its 1 45 billion acquisition of Lloyds Banking Group Plc s Australian business Westfield Retail Trust on its 28 5 billion merger with Westfield Group and Insurance Australia Group Ltd on its 1 84 billion purchase of Wesfarmers Ltd s insurance unit Despite the spine tingling number associated with the Westfield deal JPMorgan Chase Co and Rothschild advised Westfield Group while Morgan Stanley also advised Westfield Retail the average size and number of deals have fallen in 2013 compared with 2012 though only slightly This year there have been 1 187 M A transactions in Australia that on average have been worth US 84 21 billion Last year there were 1 241 M A deals that were worth on average 85 billion Some investment banks such as the number three ranked Australian M A adviser Goldman Sachs Group Inc say their business has been good and may be better in 2014 We expect with interest rates low equity market valuations relatively strong and generally conservative corporate balance sheets the conditions should be conducive to increased M A albeit business confidence will always be a critical driver Nick Sims head of M A at Goldman Sachs in Australia told DataRoom The firm so far this year has advised on 26 announced or completed deals worth US 11 15 billion Others too profess a sunny disposition toward M A in 2014 We re quite positive both in macro trends and what s in our own pipeline Alex Cartel acting head of M A in Australia for Deutsche Bank AG told DataRoom Boards are thinking about material transactions to contribute to growth Deutsche Bank is the number five ranked Australian M A adviser hired on 14 announced or completed deals worth US 9 25 billion according to Bloomberg Together with Citigroup Inc Deutsche Bank is advising Dexus on its takeover bid for the Commonwealth Property Office Fund which has an enterprise value of 4 billion Deutsche Bank helped Dexus build an initial stake of about 4 9 per cent accumulated through an equity swap Then Dexus entered into a forward and collar equity derivative over 15 per cent of CPA Citigroup helped Archer Daniels Midland Co garner an initial GarinCorp Ltd stake of 4 9 per cent accumulated through an equity swap Citigroup then executed a share market raid to increase ADM s stake to 14 9 per cent

    Original URL path: http://www.businessspectator.com.au/news/2013/12/20/mergers-acquisitions/bankers-cool-mna-deal-outlook-2014 (2014-01-12)
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  • Brett Cole | Business Spectator
    Bega mulls higher bid for Warrnambool Warrnambool CEO says Bega needs to raise its takeover offer and Bega s chairman says he is thinking about it by Brett Cole 3 02pm October 14 How Westpac sealed the 1 45 bn deal Westpac called in UBS and Gilbert Tobin to help it acquire Lloyds Australian business beating out the competition with a bid of 1 45 billion by Brett Cole 5 17pm October 11 Deutsche Bank teams up with Craigs The German bank is integrating its NZ investment bankers with Craigs a firm it has a significant stake in by Brett Cole 4 49pm September 30 Low fees No problem say investment banks NZ s Meridian Energy IPO fees are so low it may make it difficult for investment banks to make a profit on the deal by Brett Cole 2 34pm September 24 1 comment Four bidders likely to vie for RiverCity The bankrupt owner of Brisbane s Clem Jones Tunnel may get as many as four bidders by the end of the day by Brett Cole 10 13am September 23 Twitter bets are one way up Investors are speculating the IPO of Twitter will be a hit by Brett Cole 4 54pm September 17 Mark Carnegie plans second fund M H Carnegie Co wants to raise as much as 300 million in 2014 by Brett Cole 1 42pm September 16 Markets Funds urged to merge Many Australian hedge funds are too small to attract serious institutional money argues the head of alternatives at ANZ Wealth by Brett Cole 5 49pm September 10 Markets A post election bounce maybe Will the election of Tony Abbott to the Lodge restore investor confidence by Brett Cole 10 41am September 03 Markets CBA s capital market challenge Commonwealth Bank s head of institutional banking and markets leaves at the end of 2013 and his replacement faces a challenge in debt underwriting by Brett Cole 3 03pm September 02 Markets Woolworths wows with promise of growth The retailer warns against banking on a new government to fix living cost and job market headwinds but still forecasts a jump in profit in the year ahead as it presses on with expansion by Brett Cole 2 56pm August 28 Markets Suddenly Billabong is in vogue again US private equity firms Oaktree and Centerbridge say their rival deal will save Billabong as much as 120 million by Brett Cole 4 21pm August 23 Page 1 Champ Ventures plans SG Fleet IPO in Q1 The private equity firm plans to sell its 42 per cent stake in the motor vehicle fleet management business in an IPO worth up to 500m by Brett Cole 3 01pm January 07 Bankers cool on MnA deal outlook for 2014 M A bankers say while boardrooms are more confident and balance sheets are in good shape there may be little improvement in the volume of deals next year by Brett Cole 11 48am December 20 1 comment ASX on market book build has

    Original URL path: http://www.businessspectator.com.au/contributor/brett-cole-0 (2014-01-12)
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  • UBS takes title as best bank | Business Spectator
    Die Knowledge Hub Business Accelerators Webinars eBooks Menu UBS takes title as best bank Michael Bennet The Australian 20 Dec 2013 2 26 AM DataRoom Dealmakers Mergers Acquisitions Equity Capital Markets Debt Capital Markets Survey of corporates sees Swiss based group labelled Australia s best investment bank You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password UBS AG has edged out rivals Macquarie Capital and JPMorgan to be voted best investment bank by a survey of corporate clients across the nation as the appetite for deal making picks up In a win for independent advisers Michael Firmin from boutique house Record Point was rated best overall banker ahead of Macquarie Capital s head of Australia Robin Bishop and UBS s head of investment banking Guy Fowler the East Coles survey of 72 corporates found Unlike its other surveys that poll fund managers East Coles s recent take on views of the investment banks sampled senior executives from 72 companies including majors AGL Energy Coates Hire Fortescue Metals Origin Energy Stockland and Metcash But more than 50 per cent were companies outside the top 300 companies compared with 13 per cent in the top 100 and 25 per cent unlisted The majority of companies at 39 per cent were based in NSW with 35 per cent from Western Australia giving the results a strong resources flavour UBS one of the nation s largest investment banks alongside Macquarie and Goldman Sachs topped the overall title of best bank along with best bank for mergers and acquisitions equity capital markets and debt capital markets Mid tier stockbroking and finance house BBY was deemed the top independent bank ahead of Record Point and Lazard On top of his overall title Mr Firmin was also crowned best banker among the independent banks edging out BBY s Glenn Rosewall and Lazard s John Wylie Today it s more about being a corporate adviser than just a traditional banker said Mr Firmin who founded Record Point after working at UBS There is definitely no substitute for the relationships that are built through working together throughout the entire business cycle In both good times and bad we ll give genuine impartial advice and we believe our clients appreciate that It comes after a mixed year for the investment banks with a late surge in initial public offerings helping offset a slump in M A deals But investment bankers say clients are getting more optimistic on launching M A deals potentially early next year Mr Bishop was viewed as the best M A banker in the country while David Gray from JPMorgan topped the ECM tables ahead of UBS s

    Original URL path: http://www.businessspectator.com.au/news/2013/12/20/dealmakers/ubs-takes-title-best-bank (2014-01-12)
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  • Saputo’s bankers court Bega, Kirin advisors | Business Spectator
    its bankers at Rothschild and Rabobank to approach Bega s advisor at Kidder Williams Ltd as well as Kirin s advisors at Greenhill Co to ask if a deal for their Warrnambool stock can be secured Kidder Williams and Greenhill are now fielding persistent invitations to discuss business from Saputo s bankers over lunch and dinner accompanied by choice wine If Saputo can garner Bega and Kirin s stakes its Warrnambool shareholding could be boosted to 45 6 per cent Bega chairman Barry Irvin is considering a sale of his company s stake in Warrnambool in order to take advantage of the more than doubling in the share price since September Bega and Kirin s advisors are counting on the possibility of the pair getting as much as 9 60 a share if Saputo secures more than 90 per cent of Warrnambool shares Saputo says 16 9 per cent of Warrnammbool shareholders have accepted its 9 a share takeover offer but these investors have an opportunity to reject the offer until January 3 following a Takeovers Panel order Still Bega and Kirin know Saputo holds the whip hand in the Warrnambool takeover battle Saputo says it will close its Warrnambool offer on January 10 and once the bid closes many expect Warrnambool shares to plunge Bankers are discounting the possibility of Murray Goulburn Co operative Ltd winning approval from the Australian Competition Tribunal to acquire Warrnambool for 9 50 a share A decision by the Tribunal is not expected until at the end of February at the earliest By early 2014 Saputo may have secured almost half of Warrnambool s shares At 1027 AEST Warrnambool shares were down 3 cents or 0 3 per cent at 9 16 Print this page More from Brett Cole 13 Jan Singh behind key KKR deal 13 Jan Financial Index to buy Centric Wealth for 130m 10 Jan Saputo pushes for Bega s Warrnambool stake 10 Jan Saputo tipped to extend Warrnambool offer 09 Jan Saputo s Warrnambool stake now 20 per cent Related articles 13 Jan Singh behind key KKR deal 13 Jan Financial Index to buy Centric Wealth for 130m 10 Jan Global MnA slips to 3 year low 10 Jan Saputo increases WCB stake again 10 Jan Saputo pushes for Bega s Warrnambool stake More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Ian Macallan Thu 2013 12 19 16 37 Brett AMENDED REPOST FROM ANOTHER ARTICLE I would disagree and suggest the local dairy industry holds in excess of 50 if you include Fonterra Group Roughly 55 based on Bega 18 Murray Goulburn 17 Lion 10 Fonterra 10 Bega offer at 8 52 unconditional MG offer at 9 50 conditional Saputo offer is gradual so depending on who out of the above accepts Saputo s offer will drive it 9 20 at

    Original URL path: http://www.businessspectator.com.au/news/2013/12/19/dataroom/saputos-bankers-court-bega-kirin-advisors (2014-01-12)
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  • Merrill mulls adding to real estate team | Business Spectator
    energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per 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 Merrill mulls adding to real estate team By Bridget Carter The Australian 17 Dec 2013 11 57 AM DataRoom Dealmakers Industries Property Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources The bank is working for GPT Group on its 3 billion takeover bid of Commonwealth Property Office Fund Sources close to the bank suggested the group was considering hiring people to join its real estate team reporting to its head Adrian Sheldon as well as bankers for other teams with more merger and acquisition activity expected next year GPT has hired the bank as a joint adviser with Fort Street in an effort to beat Dexus Property Group and the Canada Pension Plan Investment Board to buy the Commonwealth Bank s office landlord It is understood that Sheldon has been appearing with the bank s Australian chief Kevin Skelton on matters relating to the proposal Meanwhile GPT is in talks to hire one of the target s former senior executives John Dillon and has also hired Macquarie Group real estate veteran Callum Bramah GPT is expected to trump the Dexus camp with a higher offer in the CPA contest after Dexus last week sweetened the deal However unlike Dexus and its Canadian partners GPT is offering no payment to Commonwealth Bank for the management rights of the office fund The Dexus consortium and the bank announced a deal had been reached on Friday night under which 41 million would be paid for the fund s management However the conditions of the deal include a clause that suggests either party could modify the agreement It suggests that should Dexus and CPPIB need to once again

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/dataroom/merrill-mulls-adding-real-estate-team (2014-01-12)
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  • By Bridget Carter - The Australian | Business Spectator
    this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per 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 By Bridget Carter The Australian Merrill mulls adding to real estate team Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources by By Bridget Carter The Australian 11 57am December 17 Carnegie ramps up campaign on Brickworks Soul Patts stake Activist investor calls meeting of shareholders to urge break up of shareholding by By Bridget Carter The Australian 12 35pm October 23 Merrill mulls adding to real estate team Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources by By Bridget Carter The Australian 11 57am December 17 Carnegie ramps up campaign on Brickworks Soul Patts stake Activist investor calls meeting of shareholders to urge break up of shareholding by By Bridget Carter The Australian 12 35pm October 23 Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S P 500 1842 37 4 2

    Original URL path: http://www.businessspectator.com.au/contributor/bridget-carter-australian-1 (2014-01-12)
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  • Waislitz gets $34m elite backing | Business Spectator
    Investment Group has been a long time shareholder in Rubino s engineering and construction contractor Monadelphous Thorney has been handsomely rewarded as Monadelphous has stood the test of time as one of the best performers on the Australian Securities Exchange Now Rubino is repaying the favour The Sicilian born immigrant who is simply known around his adopted home town as John has put a cool 4 5 million into Waislitz s new listed activist investment company Thorney Opportunities And Rubino wants more He is tipped to pour a further 1 5 million into the retail share offering for Thorney Opportunities giving him enough stock to emerge with a 10 per cent stake in the new company His contribution is revealed in documents for the Thorney Opportunities bookbuild obtained by The Australian which reads like a who s who of Melbourne s corporate elite and the top echelons of the Australian boutique funds management industry Former Fairfax Media chairman Ron Walker former Macquarie Group chief executive Allan Moss retail king and shopping centre owner Marc Besen recruitment industry veteran Victor Plummer and Mesoblast chief executive Silviu Itesco have all received priority allocations of more than 500 000 in Waislitz s new fund Besen has put in a cool 2 5 million making him the biggest shareholder behind Rubino Wilson Asset Management chairman Geoff Wilson and David Paradice of Paradice Asset Management have put in 1 1 million and 1 million respectively Other investors include former Wilson Asset Management fund manager Matthew Kidman who has put in 200 000 as has Monadelphous chief executive Rob Velletri Veteran property developer and long time ally of Waislitz Bill Bowness has put in 50 000 Then there is the Criddle family behind Perth based mining services group Decmil and Melbourne s O Brien family as well as John Chan executive chairman of Perth property group Finbar and Richard Noon former chief executive of online travel services provider Webjet B class allocations have gone to the likes of former Redflex chairman Tim Findlay Eureka Report founder Alan Kohler and Photon founder Tim Hughes And they may not have to wait long to see their funds put to work It is understood Thorney Opportunities could make its first investment as soon as this week ploughing up to 20 million into an un loved debt laden company that it believes is a prime candidate for a sharemarket re rating Waislitz the chairman of the new group said last month he would move in the first half of next year to invest some of the 68 2 million raised from sophisticated and retail investors But Waislitz is now keen to move more quickly after the inaugural board meeting of Thorney Opportunities late last month considered two or three opportunities that could be pursued immediately The Thorney Opportunities retail share offer closes this week and is believed to have raised more than 5 million It can go as high as 12 million The offer to 121 sophisticated investors raised 33

    Original URL path: http://www.businessspectator.com.au/news/2013/12/16/dealmakers/waislitz-gets-34m-elite-backing (2014-01-12)
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  • Damon Kitney - The Australian | Business Spectator
    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 Damon Kitney The Australian Fletcher gets an urge to merge locally Fletcher Building says it would like to consider merger opportunities with its Australian rivals and acquisitions in the US by Damon Kitney The Australian 10 08am December 23 1 comment APA closer to Envestra takeover Major Envestra shareholder could stand in the way of revised bid by Damon Kitney The Australian 2 44am December 18 Geminder upbeat on Pact Pact boss remains bullish on packaging group despite disappointing ASX debut by Damon Kitney The Australian 12 47am December 18 Waislitz gets 34m elite backing Billionaire s new fund wins support from corporate heavyweights by Damon Kitney The Australian 2 23am December 16 Aust auto group gets Swiss backing Wheel maker Carbon Revolution receives funding from Swiss giant Ronal by Damon Kitney The Australian 2 14am December 11 Quality on offer in tech IPOs Bassat Seek co founder sees exciting investments in Aust tech sector by Damon Kitney The Australian 1 58am December 09 Capital raising off Qantas agenda CEO Alan Joyce has effectively ruled out the airline raising fresh capital by Damon Kitney The Australian 7 44am December 03 Qld wants conditions on ADM bid for GrainCorp The Queensland Premier has signalled that conditions should be placed on Archer Daniels Midland s offer for GrainCorp by Damon Kitney The Australian 3 50pm November 27 Transurban in box seat for QML Transurban says it is interested in buying the 4 bln Queensland Motorways business by Damon Kitney The Australian 12 07pm November 11 UBS rides wave of family office interest UBS will announce today the establishment of a new Global Family Office business in Australia by Damon Kitney The Australian 12 37pm November 07 Geminder eyes 650m IPO with Pact selldown The packaging firm s IPO is expected to be the largest this year by Damon Kitney The Australian 10 17am November 06 Tunnel on road to deeper trouble Fresh doubts arise about the financial outlook of Sydney s CrossCity Tunnel by Damon Kitney The Australian 1 38am October 15 Fletcher gets an urge to merge locally Fletcher Building says it would like to consider merger opportunities with its Australian rivals and acquisitions in the US by Damon Kitney The Australian 10 08am December 23 1 comment APA closer to Envestra takeover Major Envestra shareholder could stand in the way of revised bid by Damon Kitney The Australian 2 44am December 18 Geminder upbeat on Pact Pact boss remains bullish on packaging group despite disappointing ASX debut by Damon Kitney The Australian 12 47am December 18 Waislitz gets 34m elite backing

    Original URL path: http://www.businessspectator.com.au/contributor/damon-kitney-australian (2014-01-12)
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