Sunday
June 21, 2020
Good evening,
There's one more sleepless night ahead for Virgin bidders Bain Capital and Cyrus Capital Partners. Binding offers for the airline are due on Deloitte's desk on Monday morning and Bain and Cyrus were fronting their investment committees on Sunday night, to sign off on their proposals.
But there might not just be two bids.
Tonight, we take a look at the potential third, unsolicited bid that could land with Virgin's administrator. The camp in question has Virgin Blue's co-founder in its corner as an adviser and some 49 other aviation experts.
Elsewhere, we take a look at which financial institution has finally relented to more than a decade of shareholder agitation and is now starting to explore sale options.
Finally, there's an Aussie drinks business pitching private equity firms for funds and Darrell Lea has got a new chief executive.
Happy reading,Sarah Thompson, Anthony Macdonald and Tim BoydStreet Talk Editors
After more than a decade of agitating, it looks like some of ME Bank's shareholders are finally getting their way.
Another Virgin Australia bid day, another unsolicited bidder trying to steal the day.
There's nothing wary investors respect more than when a deal that's brought to them isn't sugar coated.
First it was donuts and cakes and a near $1 billion exit for Australian private equity bigwig Pacific Equity Partners.
It's OZ Minerals' turn to get in on the nickel consolidation sweeping Western Australia's miners.
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