Financial reforms behind SMSF-driven LIC boom
It seems anyone who’s anyone is launching a new listed investment company (LIC) this year. The market has welcomed offerings from veteran fund managers Geoff Wilson, Anton Tagliaferro and Manny Pohl.
JPMorgan earnings hit by trading, mortgage lending
JPMorgan Chase has reported an 8 per cent slide in second-quarter earnings, the latest sign that the bank is grappling with lacklustre revenue from trading and a slowdown in mortgage lending.
Reynolds American pays $US27.4bn for Lorillard
Reynolds American agreed Tuesday to buy its smaller rival, Lorillard, for $US27.4 billion, uniting two of the largest US tobacco producers in a bet that bigger is safer in a declining industry.
Gondwana Resources a pivot point for corporate regulator
The Takeovers Panel appears to be increasingly confident in making findings of association, as well as taking a firmer stance on undisclosed substantial holdings.
Let’s not follow UK ban on hybrids
Merit regulation hit a worrying milestone earlier this month with ban on some hybrid securities.
Asia’s rich chase yield with margin loans
For clues as to where the next market flare-up may ignite, the old adage is follow the leverage.
Latest ASX takeover announcements
| WBA | 27/02/15 | Acquisition of Bengerang and Tandou Bid |
| TAN | 27/02/15 |
Takeover Bid Announcement
|
| TIX | 27/02/15 | TIX Offer Institutional Acceptance Facility |
| ANI | 27/02/15 | Update on 360 Capital Industrial Fund offer for ANI |
| MEO | 26/02/15 | Off-market takeover bid by Mosman Oil and Gas Limited |
| ANI | 26/02/15 |
ANI Target's Statement
|
| MEO | 25/02/15 | MEO Takeover Bid - Approval of foreign nominee |
| MEO | 25/02/15 |
MEO Target Statement
|
| MEO | 25/02/15 | MEO Lodgement of Target Statement |
| MEO | 25/02/15 | Replacement Bidder's Statement to shareholders |
Bank of Montreal pays £708m for UK asset manager
In a bid to expand its wealth management offerings in Europe, the Bank of Montreal’s parent company said it would acquire F&C Asset Management of Britain for £708 million.
Woolworths dives, Rio cuts jobs
Reporting season rounds up with a whammy by Woolworths, a smug Harvey Norman and Rio sheds jobs.
M&A
| Pos | Name | Value ($m) | No | % share |
| 1 | Mizuho | 6,423 | 1 | 38.2 |
| 1 | Lazard | 6,423 | 1 | 38.2 |
| 1 | Gresham Partners Group Ltd | 6,423 | 1 | 38.2 |
ECM
| Pos | Name | Value ($m) | No | % share |
| 1 | UBS | 776 | 6 | 28.8 |
| 2 | Morgan Stanley | 539 | 3 | 20.0 |
| 3 | Macquarie Group | 354 | 2 | 13.1 |
DCM
| Pos | Name | Value ($m) | No | % share |
| 1 | Westpac | 4,233 | 11 | 20.5 |
| 2 | ANZ | 2,392 | 14 | 11.6 |
| 3 | Deutsche Bank | 1,907 | 16 | 9.2 |
Syndicated Loans
| Pos | Name | Value ($m) | No | % share |
| 1 | National Australia Bank | 325 | 1 | 37.4 |
| 2 | Sumitomo Mitsui Financial Group | 158 | 1 | 18.2 |
| 2 | Mizuho | 158 | 1 | 18.2 |
JPMorgan, Deutsche extend chatroom bans: sources
JPMorgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources say, as banks crack down on potentially inappropriate communications.
Lloyds Bank appoints Blackwell new chairman
The Lloyds Banking Group said that Norman Blackwell would become its chairman next year, succeeding Winfried Bischoff, who is scheduled to retire in April.
Block trades hit five-year high
Few deals are riskier for equity capital markets bankers than a block trade. But with placements thin on the ground this year, block trades were the main game for firms to dominate the all-important league tables
The mammoth listed fund battle
It took an hour long meeting in Bacino’s, one of Mosman’s most popular cafes, to jolt forward the largest takeover in Australia’s listed real estate space since 2007.
All toll roads lead to the same place
Inside the deal | How the deal for bankrupt Brisbane toll road, the Clem7 tunnel, unfolded, ending in Queensland Motorways $618 million purchase.
