IPH lifts takeover bid: Is Xenith shifting allegiances?

IPH lifts takeover bid: Is Xenith shifting allegiances?

Shares in intellectual property company Xenith (ASX: XIP) have risen 8.85 per cent this morning after suitor IPH (ASX: IPH) increased its takeover bid for the company to an implied value of $2.15 per share. For months Xenith has stood by its proposed merger with QANTM Intellectual Property (ASX: QIP), but now it is giving the group until ...

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Inside Australian Family Lawyers' $6.5M IPO

Inside Australian Family Lawyers' $6.5M IPO

At the completion of Australian Family Lawyers' (AFL) IPO it will become the latest Australian law firm to list on the ASX. Following yesterday's extraordinary general meeting when Navigator Resources Limited (ASX: NAV) shareholders gave AFL the greenlight for a reverse takeover of the mining company. The firm is joining the l...

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Saudi company buys 200,000ha of Australian farmland

Saudi company buys 200,000ha of Australian farmland

The Nicoletti family in Western Australia has sold 200,000ha of farmland to the Saudi Agricultural and Livestock Investment Company (SALIC) in a deal the ABC reports to be worth around $60 million. The buyer, which is a joint stock company owned by Saudi Arabia's Public Investment Fund, received approval for the transaction last ...

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Flight Centre bets on corporate travel tech with US investment

Flight Centre bets on corporate travel tech with US investment

Brisbane-based travel agency Flight Centre (ASX: FLT) is raising its forward-thinking profile on the world stage today after securing a 25 per cent interest in US technology-driven business The Upside Travel. The investment makes Flight Centre the largest single shareholder in the Washington DC-headquartered group that was launched by Pri...

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Ardent Leisure takes out $225M loan to revive theme parks and grow US footprint

Ardent Leisure takes out $225M loan to revive theme parks and grow US footprint

Ardent Leisure (ASX: ALG) has announced the completion of a US$225 million loan facility which it will use to revive its theme parks division, including Dreamworld and WhiteWater World, and grow its presence in the US. The combined facility is made up of a US$125 million drawn term loan, a US$75 million delayed draw term loan and a US$25 ...

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AP Eagers proposes $1.8 billion merger with Automotive Holdings Group

AP Eagers proposes $1.8 billion merger with Automotive Holdings Group

AP Eagers (ASX: APE) has announced its intention to acquire all the remaining shares in Automotive Holdings Group (ASX: AHG) that it does not already own to merge the two automotive retail companies. The proposed deal would mean the merged company would be one of the leading automotive retail groups in Australia representing 33 car b...

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NBN competitor Spirit Telecom buys LinkOne Group for $5.7M

NBN competitor Spirit Telecom buys LinkOne Group for $5.7M

Spirit Telecom (ASX: ST1), internet service provider and popular alternative to the NBN, has acquired LinkOne Group for $5.7 million. LinkOne is a telecom carrier across hardware platforms including fibre, copper and broadband which has a significant footprint in Melbourne, Sydney and Brisbane. Spirit's aim is to give more east co...

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30 witnesses for lengthy GetSwift trial

30 witnesses for lengthy GetSwift trial

The corporate watchdog has flagged that it intends to throw 30 witnesses at software company GetSwift in its now delayed trail. The large number of witnesses, expected to take around six weeks to get through, has compelled Federal Court judge Michael Lee to delay the trial until 2020 to allow GetSwift to prepare for the bout with the Aust...

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Aussie cannabis blooms in Asia as THC paves inroads with Malaysian Government

Aussie cannabis blooms in Asia as THC paves inroads with Malaysian Government

Sydney-based medical cannabis grower and manufacturer THC Global (ASX: THC) is buddding in Asia through a new partnership with Malaysian bio-tech company Heleogenics. Through the partnership, THC's main goal is to liaise with the Malaysian government and push for its legalisation of medicinal cannabis as well as the development of pol...

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Retail Food Group fails to sell Donut King

Retail Food Group fails to sell Donut King

Negotiations to divest the Donut King and quick service retail (QSR) divisions of Retail Food Group (ASX: RFG) have ended without a sale for the embattled company. RFG says that a formal binding agreement could not be reached with the party interested in taking the two divisions off RFG's hands. "Our Donut King and QSR brands...

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Former Blue Sky investment director's fund receives backing from Pinnacle

Former Blue Sky investment director's fund receives backing from Pinnacle

Pinnacle Investment Management Group (ASX: PNI) has put its weight behind a food, agriculture and water fund founded earlier this year by a former investment director at Blue Sky Alternative Investments (ASX: BLA) The partnership with Riparian Capital Partners (RCP) provides the new company with capital to invest in the business alon...

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Maurice Blackburn is coming at Lendlease with potential class action

Maurice Blackburn is coming at Lendlease with potential class action

Australian class action law firm Maurice Blackburn is investigating a potential shareholder class action against Lendlease Group (ASX: LLC) after the construction group allegedly misled the market. The investigation arises from alleged misleading behaviour from Lendlease who Maurice Blackburn say failed to adequately disclose the long-run...

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CIMIC tapped to lead $5.4 billion Brisbane underground rail project

CIMIC tapped to lead $5.4 billion Brisbane underground rail project

Three global consortiums will lead the build of the $5.4 billion Brisbane Cross River Rail Project. The project will see a 10.2 kilometre rail line from Dutton Park to Bowen Hills built, a 5.9 kilometre tunnel under the Brisbane River and CBD, and four new underground stations plus upgrades to existing infrastructure. The Cross River ...

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Vita Group acquires Bradford Clinic, continues ambitious cosmetics rollout

Vita Group acquires Bradford Clinic, continues ambitious cosmetics rollout

Vita Group (ASX: VTG) has continued its expansion into the field of medical cosmetics, adding The Bradford Clinic in Toowoomba to its burgeoning portfolio. Spearheaded by CEO Maxine Horne, Vita Group began its rollout of a national network of cosmetic clinics under the Artisan Aesthetic Clinic brand in November last year. This latest ...

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SEEK nabs former CommBank CEO Ian Narev

SEEK nabs former CommBank CEO Ian Narev

Former Commonwealth Bank boss Ian Narev, who left Australia's biggest bank in the wake of its 2018 money laundering scandal, has joined jobs site SEEK (ASX: SEK) in the newly created role of group chief operating officer and Asia Pacific and Americas CEO. Narev will work in partnership with SEEK Group CEO and co-founder Andrew Bassat ...

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Smiles Inclusive all frowns as board decay sets in

Smiles Inclusive all frowns as board decay sets in

Opposing camps on the Smiles Inclusive (ASX: SIL) board are trying to wrench one another from their posts in a scramble for leadership of the embattled dental aggregator. Founder, major shareholder and former CEO Mike Timoney issued a press release today claiming attempts from "renegade directors" to prevent a requisition notice...

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Doubts linger as Blue Sky issues debt update

Doubts linger as Blue Sky issues debt update

Following a tumultuous 2018 and what has been a tough start to this year, Blue Sky Alternative Investments (ASX: BLA) has informed the market compliance with covenants to its US-based saviour Oaktree Capital remain in limbo. After posting a net loss after tax of $25.7 million for H1FY19 on 28 February, the Brisbane company announced its c...

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Bubs acquires Melbourne dairy producer for $35M

Bubs acquires Melbourne dairy producer for $35M

Infant formula producer Bubs (ASX: BUB) is making yet another bold move, acquiring a Melbourne dairy producer for $35 million. Bubs will purchase Australian Deloraine Dairy for $25 million in cash plus $10 million worth of Bubs shares. If certain performance targets are met there will be further payments of up to $15 million to the De...

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Woolies to close 30 Big W stores

Woolies to close 30 Big W stores

Australia's largest retail group Woolworths (ASX: WOW) will be shutting down one in every six of its Big W stores over the next three years along with two distribution centres (DC), following a review of the division's outlook amidst challenges from online shopping.  Big W recorded 6 per cent comparable sales growth in the th...

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Zuckerberg calls for more regulation over the Internet

Zuckerberg calls for more regulation over the Internet

Facebook has clearly grown bigger than founder Mark Zuckerberg ever imagined. In just a few short years he's gone from Silicon Valley darling to the scapegoat for the world's ills. He copped the brunt of the blame for Brexit and Trump, and more recently has received a fair share of criticism for Facebook's handling of the ...

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