It’s bids flying left, right and centre on the ASX right now!
United Malt opened the day with a confirmation of Street Talk’s Sunday evening scoop that Malteries Soufflet had firmed up its $5 a share bid from March.
Bill Beament’s Develop Global kept the day’s dealmaking going, lobbing a scrip bid worth 56c a share (at Friday’s close) for lithium junior Essential Metals. And gold miner Ramelius gazumped rival bidder Westgold at Musgrave Minerals.
Tonight in Street Talk, we reveal two more bids headed towards the ASX boards.
Listed shipbuilder and red-hot M&A target Austal is expected to receive an indicative bid from New York’s JF Lehman & Company as early as this week. The suitor is working with Morgan Stanley, and has joined a queue that already includes Cerberus, Arlington and Joe Hockey’s Bondi Partners.
JF Lehman is a middle-market private equity firm focused on aerospace, defence and maritime sectors. It has some $US4 billion in assets under management.