☕ LBJ

Good morning. Love him or hate him, it's now official. The all-time NBA goal-scoring 🐐 is Lebron James after he surpassed Kareem Abdul-Jabbar's 4-decade record of 38,387 career points in a game overnight.

Good morning. Love him or hate him, it's now official. The all-time NBA goal-scoring 🐐 is Lebron James after he surpassed Kareem Abdul-Jabbar's 4-decade record of 38,387 career points in a game overnight.

But back to finance news...

LOI Subscriber #TBD

MARKET MOVERS

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

Market news: Boral punched out a solid 1H23 result, with the building materials company clocking a 12% increase in revenue and 53% increase in net profit.

Seven Group (aka Kerry Stokes) bought up a 70% stake in the company in 2021 and effectively paid around $4.70 a share (after capital returns) -- meaning they are still underwater on that purchase.

TRADING FLOOR

M&A:

  • Strike Energy has accepted rival bidder Hancock Prospecting’s 36¢ a share offer for Warrego. (AFR)

    • Strike Energy’s sneaky capital raising as their 26% stake will net them $120m. (AFR)

  • Suncorp is prepping its New Zealand life insurance business for a sale. (AFR)

  • Barrenjoey is understood to have been brought in by Telstra for a potential sale of a stake in its $20bn-odd infrastructure unit. (The Australian)

  • Apollo may be looking to buy into the Credit Suisse investment banking offshoot. (The Australian)

  • Australian mining services providers are looking at acquisition opportunities in the technology space. (The Australian)

  • Mass layoffs at Nearmap 3 months after it was acquired by Thoma Bravo. (AFR | AFR)

  • S&P Global downgrades its GenesisCare rating to a CCC minus from CCC on “heightened default risk”. (The Australian)

Capital Markets:

  • Silver Mines was asking investors for a $12m cash injection. (AFR)

  • Mad Paws was asking investors for a $4m equity raising. (AFR)

  • Non-bank lenders Plenti, ColCap and Pepper Money kick off the securitisation spree. (AFR)

  • Pacific Hydro banks new $1.5b debt facility. (AFR)

VC:

  • Fabrum, a New Zealand liquid hydrogen tech company, has raised A$21m in a Series A led by AP Ventures. (StartupDaily)

Other:

  • The Carlyle Group’s Michael Britton is headed to Wesfarmers. (AFR)

  • Elders Ltd boss said that private investor briefings held with insto's should not have caused his company’s shares to drop 7% in two days. (AFR)

THE QUICK SYNC

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THE WATERCOOLER

THE TRADE

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