Good evening,

Last year’s biggest M&A deal is in its final lap.

Origin Energy’s suitors, Brookfield and EIG, are understood to be ready to sign on the dotted line this month. They are still happy to pay the $18.2 billion and split the business – albeit with co-investors on both sides.

Government changes to gas regulation seem to have been chewed on and digested without any accidents.

Street Talk hears there should be a binding deal and a board recommendation as early as next week, followed by scheme documents a few weeks later. It would be solid league table credits for the banks involved – Barrenjoey and Jarden on the sell-side and UBS and Citi on the bidders’ side.

Over in private equity land, healthcare-flavoured deals are back in vogue this year and Street Talk spotted one fresh out of Crescent Capital Partners.

Crescent has hired Rothschild to vet the unsolicited attention its 24-7 Healthcare is getting from suitors.

24-7 is one of the largest telehealth providers in Australia and should have no troubles attracting tyre kickers keen to take a closer look.

Lastly, TPG Capital has called in Jarden for extra support at InvoCare after being impressed by its track record at AGL Energy, MST Financial Services was ready to get into M&A advice, and prolific pre-IPO investor Perennial was talking about how the world of listings has changed.

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