Good evening, As listed equities investors get ready to rumble again with the coronavirus-induced markets shakeout, we have news of one protracted takeover saga coming to an end.
Tonight we reveal that private equity-backed Scottish Pacific will have its cash offer recommended by CML Group on Monday, with the latter expected to forgo an earlier plan to combine with fellow listed financial services play Consolidated Operations Group. It's not over until the fat lady sings but Scottish Pacific's ace up its sleeve is that its binding offer has secured the indicative backing of CML Group's biggest institutional shareholder. This could prove crucial, given the contested nature of CML Group's takeover battle to date. Meanwhile, hedge fund VGI Partners has taken short target Corporate Travel Management to task again and we have an update on the Goldman Sachs-run auction of Laureate Education's Australia and New Zealand businesses. Happy reading, Sarah, Anthony and Tim. |
Tomorrow's headlines Goldman Sachs is in pole position to advise tradie bookings website Hipage's owners on a potential exit. |
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| | It's payday for invoice and equipment financier CML Group. |
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| | Geoff Wilson has hit back at Rothschild's David Kingston. |
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Activist investor VGI Partners has unleashed fresh hell on listed short target Corporate Travel. |
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| | Here's a turn-up for the books. BGH Capital has skipped an education move. |
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Sarah Thompson, Anthony Macdonald and Tim Boyd.
Street Talk Editors |
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