To The Moon

Mergers and acquisitions (M&A) tend to occur more frequently during periods of economic downturns or when the overall economic conditions are unfavorable. M&A transactions can offer several potential benefits, including synergies, cost savings, market expansion, diversification, and the consolidation of resources.

We consolidated the top 5 M&A cases in ASX.

Source: Reuters and Tiger Trade

1. $FLIGHT CENTRE TRAVEL GROUP L(FLT.AU)$ to acquire Scott Dunn for A$211 million

Flight Centre Travel Group Limited provides travel retailing services for the leisure and corporate sectors in Australia, New Zealand, Americas, Europe, the Middle East, Africa, Asia, and internationally.

Flight Centre Travel Group has signed an agreement to acquire Scott Dunn, a United Kingdom-based luxury travel brand, for A$211 million.

The purchase will be funded through the A$180 million raising and A$40 million in additional cash on the company's balance sheet. The capital raising has been fully underwritten by Macquarie Capital and UBS.

2. $BHP GROUP LTD(BHP.AU)$ plans to acquire $OZ MINERALS LTD(OZL.AU)$ for A$9.6bln

OZ Minerals is an Australian mining company that explores, develops, mines, and processes mining projects.

On 2nd May, BHP has concluded its takeover of Australian copper producer OZ Minerals for A$9.6bn ($6.4bn).

The acquisition was made by BHP’s subsidiary BHP Lonsdale Investments, which has purchased 100% of OZ Minerals’ shares for A$28.25 per share.

In August 2022, BHP offered to buy OZ Minerals for $25 per share in cash. This offer was later adjusted to $28.25 per share in cash, less a $1.75 per share dividend declared by OZ Minerals.

OZL shareholders received total cash consideration of A$28.25 per OZL share.

3. $NEWCREST MINING LIMITED(NCM.AU)$ ‘s $19.2 bln acquisition by $Newmont Mining(NEM)$ gonna be the biggest deal this year

 Newmont, the world’s biggest gold mining company, acquired Australia-based rival Newcrest Mining Ltd. for $19.2 billion in the industry’s biggest deal to date.

Newcrest shareholders will receive 0.4 Newmont shares in exchange for each share of Newcrest and a special dividend of $1.10 per share paid for by Newcrest in the deal

If successful, Newmont’s latest grab for Newcrest would be the largest merger and acquisition deal announced so far this year.

4. $INVOCARE LIMITED(IVC.AU)$ got sweetened proposal of $1.9 billion from TPG

 Invocare, an Australian funeral services company, saw its stock price surge by 37% following a takeover approach.

In March, TPG made an initial proposal to InvoCare, valuing at AUD 12.65 per share, A$1.81 billion in total.

In May, TPG has made a revised proposal to acquire all shares of InvoCare for $13.00 per share in cash. This offer represents an increase of 35 cents per share compared to the initial proposal that was withdrawn on April 24th.

The revised proposal values InvoCare at approximately $1.9 billion in equity and $2.2 billion in enterprise value.

5. $United Malt(UMG.AU)$ agreed the A$1.5 billion offer from Malteries Soufflet

United Malt, Australia's fourth-largest commercial maltster, has agreed a AU$1.5 billion takeover offer from Malteries Soufflet, a subsidiary of French company InVivo. This acquisition has the potential to create the world's largest malt producer.

Malteries Soufflet is the largest commercial maltster in Europe and the second-largest maltster in the world. It has submitted a conditional, non-binding, and indicative proposal to acquire all of United Malt’s stock for $5.00 per share in cash.