☕ Case dimissed

Good morning. Another rate rise yesterday by the RBA. That means the average annual mortgage repayment is now about $12k higher than it was in May 2022. With 2 more rises predicted, that's expected to hit $15k. 

ps. a few people asked whether HBO sponsors us... unfortunately not. We're just getting used to the new email service and forgot to update the subject line yesterday from "Succession."

LOI Subscriber #TBD

MARKET MOVERS

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

Market news: Nuix popped after the Federal Court dismissed claims by its former CEO. The former CEO claimed his options should have benefited from a stock split that would have netted him another ~$180m. But the court dismissed the claims.

While the former CEO can appeal the decision, the current clarity might give rumoured buyers the confidence to have a crack.

TRADING FLOOR

 M&A:

  • Five V Capital is charting its exit at Monson Agencies. (AFR)

  • Nuix could now re-emerge as a takeover target for its former US suitors. (AFR)

  • Barrenjoey steps up the attemps to sell Rest’s Endeavour Energystake. (AFR)

  • Adamantem Capital hunts a $200m debt to bankroll its acquisition of a majority stake in Retail Zoo. (AFR)

  • Newcrest chairman is urged to explain what a “stand alone” future would look like if they reject Newmont's bid. (AFR)

  • Macquarie Group has signalled that the weaker market for M&A's could hurt its annual results for its investment banking arm.  (The Australian)

  • Potentia has not given up the hustle for Nitro Software.  (The Australian)

  • Allan Gray emerged with an interest of 6.09% in Link Administration Holdings. (The Australian) 

ECM:

  • Anteris Technologies chases $24m via Evolution Capital. (AFR)

  • UBS’s desk crossed an $81m stake in HomeCo Daily Needs REIT. (AFR)

  • Bingo Industries has its eye on an IPO this year.  (The Australian)

VC:

  • None

Other:

  • WSP Global slashes its own office space and converts skyscrapers to data centres and condos. (AFR)

  • Jefferies doles out bumper bonuses as Wall Street tightens spending (AFR)

  • UBS promoted four operatives to its managing director class. (AFR)

  • Healius’ half-year earnings results better than shorters had expected (The Australian)

THE QUICK SYNC

TOGETHER WITH FUNDABL

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THE WATERCOOLER

THE TRADE

  • Corporate Development Manager — Suncorp (Learn More)

  • M&A Lead — Woolworths Group (Learn More)

  • Early Stage Investments Analyst — No Brand Holdings (Learn More)

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