Good evening,

Nuix stole the show on Tuesday in dealmaking circles despite way more pressing stuff – like RBA’s rate call, Cettire’s escrow expiry and Newcrest’s scrip bid.

The stock climbed 43.6 per cent after Nuix dodged a $183 million legal claim from its former CEO. While Nuix’s problems are far from over (to itemise them, appeal’s possible, ASIC has an investigation and there are class actions), it’s never been hotter for an M&A approach in its listed life.

Investor sources said Nuix’s remaining legal liabilities were likely smaller, competition for similar assets was heating up, and 30 per cent shareholder Macquarie was bursting to get out after having been reined in by the poor share price since escrows expired in FY21.

Street Talk understands RBC Capital Markets was still on the scene as the defence adviser, and last year’s suitor Reveal was expected to return with a new approach.

In private equity land, Five V had called in E&P Corporate Advisory to prep its shipping services business Monson Agencies for a sale, and Adamantem was rounding up the debt for Retail Zoo.

Lastly,UBS’s Australian outpost has four new managing directors.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors