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Mergers & acquisitions

Today

Shayne Elliott says ANZ has spent seven years shaping up for a deal like this.

ANZ’s ‘once-in-a-lifetime’ deal comes with complexity

Shayne Elliott says seven years of simplification has set ANZ up for the $4.9 billion acquisition of Suncorp’s bank. But with growth comes complexity.

  • 15 mins ago
  • James Thomson
Suncorp CEO Steve Johnston and ANZ CEO Shayne Elliott.

‘We feel dwarfed by CBA’: ANZ’s $25b bet on Queensland

Shayne Elliott said the Suncorp acquisition would help it compete with Australia’s biggest bank, as he pledged to fund the state’s energy transition.

  • 41 mins ago
  • James Eyers, Ayesha de Kretser and Liam Walsh
ANZ chief executive Shayne Elliott expresses relief as ANZ finds an option for growth.

ANZ to decide on ‘painting Queensland blue’

ANZ is ready to paint the town blue, but investors are conscious of the timing and cost.

  • 1 hr ago
  • Ayesha de Kretser and James Eyers
Suncorp boss Steve Johnston believes it’s the right time to sell the group’s bank.

ANZ deal delivers Suncorp three big wins

Suncorp has extracted a solid price for its bank from ANZ. But the biggest benefits of the deal stem from becoming a standalone insurer. 

  • Updated
  • James Thomson
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Why ANZ’s $4.5b MYOB acquisition plan always looked a non-starter

ANZ’s pursuit of Suncorp gave it a nice reason to pull the pin on a planned $4.5 billion deal for MYOB.

  • Adir Shiffman
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ANZ to buy Suncorp bank in $4.9b ‘cornerstone’ deal

The bank confirmed its raising fresh capital to finance its $4.9 billion purchase of Suncorp Bank and pledged to keep its branches open for three years.

  • Updated
  • Liam Walsh, James Eyers and Ayesha de Kretser
Silk Laser Clinics CEO Martin Perelman is on the front foot in an industry that is consolidating fast.

Botox company Silk Laser buys Victoria’s Unique Laser

Investors who bought into the Silk Laser’s float are feeling the pain, but the cosmetic injections group is on the expansion path.

  • Simon Evans
Street Talk.

Macquarie, UBS launch ANZ Bank’s $3.5b raising

ANZ Banking Group shares won’t trade until Thursday, allowing time for the group to go cap in hand to shareholders with a $3.5 billion raising. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Two infrastructure managers have split the sixth and likely final telco towers portfolio to be sold in the past 13 months.

InfraRed, Northleaf win Vodafone NZ towers auction

InfraRed Capital Partners and Northleaf Capital Partners have signed a $NZ1.7 billion deal to invest in telecommunications towers owned by Vodafone NZ. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Gina Cass-Gottlieb will have a close look at ANZ’s takeover of Suncorp’s bank.

ANZ/Suncorp deal will be first test for new ACCC boss

The watchdog has long bemoaned the market power of the big four banks, but proving that an ANZ takeover of Suncorp will substantially lessen competition may prove complex. 

  • James Thomson

Yesterday

Street Talk.

ANZ pushes for shareholder friendly $3.5b raising

ANZ Banking Group’s board has pushed back against nervy underwriters, demanding a renounceable entitlement offer for its $3.5 billion equity raising slated to launch on Monday morning. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
EML Payments offers prepaid payments cards.

EML Payments keeps bankers close as swoopers circle

The sharks are circling bombed out EML Payments – but much to their chagrin the company’s board hasn’t been all that keen to take them seriously. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
BioPak’s best known for its single  use coffee cups.

Ord Minnett, Wilsons brokers join bankers, lawyers at BioPak

Food packaging maker BioPak has boxed up its team for a run at the ASX-boards, although will likely have to wait until next year before putting a deal to listed equities investors. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Kiwi Wealth is a default KiwiSaver provider, with about $NZ9 billion in its scheme.

Bain, Nomura bankroll TA bid for Kiwi Wealth

Suitors have been told the retirement savings outfit and its bankers should have a winning bidder this week.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Victoria’s Bendigo and Adelaide Bank has been trying to get Suncorp’s attention.

Bendigo Bank left waiting on Suncorp’s doorstep

While ANZ Banking Group homes in on a deal to acquire Suncorp’s bank, junior rival Bendigo and Adelaide Bank is stuck on the sidelines looking increasingly frustrated. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
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Suncorp chair Christine McLoughlin and her board are seeking to finalise the sale of the company’s bank.

ANZ’s Suncorp bank bid worth $4.9b

ANZ Banking Group has offered $4.9 billion to buy Suncorp’s bank, with the deal on track to be signed and announced on Monday morning.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Battle of the brands: former indie rock musician William Savitt will take Twitter’s fight to Elon Musk

Meet the guitar-slinging lawyer out to get Elon Musk

Colleagues say Bill Savitt has one of the most brilliant legal minds in America, but don’t expect showboating when the former indie rock band member leads Twitter’s case against Elon Musk.

  • Sujeet Indap

This Month

Street Talk

ANZ closes in on deal to buy Suncorp Bank; preps $3.5b raising

ANZ Banking Group and Suncorp Group are close to pulling off the biggest Australian banking deal in more than a decade. 

  • Updated
  • Sarah Thompson and Anthony Macdonald
Nine

FTI extends Collection House final bids; 22 parties in data room

Broke debt collector Collection House’s administrators have given suitors another five days to firm up their bids.

  • Jessica Sier, Sarah Thompson, Kanika Sood and Anthony Macdonald
Rex Airline chair John Sharp.

Rex buys Cobham Aviation’s FIFO unit

ASX-listed Regional Express Holdings has reached an agreement to acquire Macquarie Capital’s Cobham Aviation Services Australia’s regional services arm.

  • Jessica Sier, Sarah Thompson, Kanika Sood and Anthony Macdonald