Month: September 2021
SIQ +18.07%: the salary packaging and fleet services business copped a takeover bid from private equity group TPG today. The bid values Smartgroup at $1.38b with the all-cash offer at $10.35/sh.
BPT +10.53%: the standout in a weak day today, Beach was helped by surging energy prices as well as a strong showing at their investor day. Beach talking to FY24 production of 28mboe, up from Fy21 25.6mboe
SIG +1.68%: the pharmaceutical wholesaler re-joined the running to take out Priceline owner Australian Pharmaceutical Industries (API) today in a battle that’s now spanned 3 years. Wesfarmers had thrown a bid in for API only a few months ago at $1.55/sh cash, in a deal that looked all but wrapped up before Sigma’s moves today.
CXL +39.69%: Our most recent purchase in the Emerging Companies Portfolio crashed through all-time highs today after selling a portion of a subsidiary to a US ESG investment firm. A 7% stake in the LEILAC Group was sold to Carbon Direct Capital management for $24.5m.
Z1P -2.7%: the BNPL company held an investor day as they start to shape the conversation about other avenues of revenues. Zip are now looking to encourage customers to do more than just one off purchases through Zip with a digital wallet style offering including taking deposits.
SYD +4.63%: third time lucky for the bidders today with the suitors calling themselves Sydney Aviation Alliance getting a look behind the curtain of Sydney Airport. The new bid at $8.75/sh is 50c higher than the original offer, and around a 50% premium to SYD shares prior to the first offer coming to light.
