☕ Ah, push it

Good morning. The footy tipping competition is underway with a prize pool of $2750. Shoutout to Matt de Boer, who threw in a couple of free tickets to a game as an additional prize which will be awarded to the tipper leading halfway through the comp!

Good morning. The footy tipping competition is underway with a prize pool of $2750. Shoutout to Matt de Boer, who threw in a couple of free tickets to a game as an additional prize which will be awarded to the tipper leading halfway through the comp!

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ps. it's the last day to score complimentary tickets to Wholesale Investor's Emergence 2023 conference for investors! 

LOI Subscriber #TBD

MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: You might say that the push by Pushpay shareholders to have BGH & Sixth Street pay more to take the company private has paid off. 

Shareholders earlier this month voted down a NZ$1.34/sh scheme put to them, which has helped them squeeze out an 8c from the bidders who are now offering NZ$1.42/sh.

Six of the seven major shareholders who voted against the deal have committed to support it this time around.

THE QUICK SYNC

  • Credit Suisse secures $54bn lifeline as authorities rush to avert global bank crisis. (CNBC)

  • Qantas extends expiry on $800 million in COVID-19 flight credits. (SMH)

  • Latitude Financial is the latest big company to announce a cyber attack. (ABC)

  • BHP faces $65bn damages claim over Brazil mine disaster. (SMH)

  • Elon Musk brought high-speed internet to the Amazon. Criminals love it. (SMH)

  • Sam Bankman-Fried said to have taken $2.2bn from FTX entities. (Fox)

  • Stripe nearly halves valuation to $50 bln following $6.5 bln raise. (CNBC)

  • Exiled Chinese tycoon and Bannon ally Guo Wengui charged with $1bn fraud. (ALJ)

  • How Ryan Reynolds, Rihanna and other celebrities made fortunes from side hustles. (WSJ)

    • Ryan Reynolds-backed Mint Mobile is sold to T-Mobile for $2bn. (SMH)

TRADING FLOOR

 M&A:

  • CPPIB is said to have rejected a $2bn bid for BAI Communications by the AusSuper-backed Indara Digital Infrastructure. (AFR)

  • Cover Genius announced it has completed an acquisition of embedded warranty provider, Clyde Technologies. (FF)

  • Crescent Capital is looking for LP investors for its healthcare staffing business, Healthcare Australia. (AFR)

  • Bruce Gordon puts The Scarborough Hotel up for sale. (SMH)

  • Uniti and Vocus are no longer in the Vision Networks race, leaving one PE firm to be the solo party. (The Australian)

  • Keppel Infrastructure is believed to be on the brink of selling Ixom to Stonepeak. (The Australian)

  • NZ TAB has engaged Barrenjoey to explore options. (The Australian)

  • Morrison & Co and IFFCo are understood to be looking at Pact Group’s crate manufacturing and pooling business. (The Australian)

  • Kelsian pays $487m to bus Apple, Google and Tesla staff to work. (AFR | BNA)

Capital Markets:

  • Light & Wonder, the $5bn gaming company, is evaluating a potential secondary listing on the ASX (AFR)

  • Star Entertainment Group raised $800m from retail and institutional shareholders. (SMH)

  • Wingate isin the market for $100m for its third corporate credit fund. (AFR)

VC:

  • None

Others:

  • E&P has recruited Entcho Raykovski from Credit Sussie for telco/media stocks. (AFR)

TOGETHER WITH WHOLESALE INVESTOR

Starting this week, LOI readers now have exclusive complimentary passes to Australia’s largest venture capital conference, Emergence 2023, hosted by Wholesale Investor, March 23-24.

  • 750+ Aussie VCs, Investors and Deal Makers… professionals from the VC and Capital Markets space will gather in Sydney CBD to learn, network and access exciting scale-up opportunities.

  • 40+ leading speakers and panellists… including folks from Five Sigma, TEN13, Empress Capital, NAB Ventures, BMYG, INP Capital, Flying Fox Ventures, Kotti Capital, Apollo Crypto, Aussie Angels, Gencap Wealth, Investible, Backbone Partners and Antler

  • 80+ Founders… across emerging and core sectors will be presenting their opportunities directly to you.

Dealflow, insights, and networking… claim your complimentary pass as an LOI reader here.

THE WATERCOOLER

THE TRADE

  • Strategy & Corporate Development Manager — OFX (Learn More)

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