Two international companies are locked in a heated takeover battle for control of Australia’s largest locally owned cotton processor, Namoi Cotton, with the bidders leapfrogging each other to dangle a bigger carrot in front of the company’s shareholders. Earlier this month Olam Agri Australia offered 66 cents a share for Namoi, trumping Louis Dreyfus Company…
Optical detection and video imagery company Sentient Vision Systems is to fall into overseas control with a takeover by California-based Shield AI. Sentient previously collaborated with Shield to develop a ViDAR-enabled wide area motion imagery (WAMI) solution called ‘Sentient Observer’, which will fly this year. ViDAR is Sentient’s AI system, which uses an Electro-Optic or…
By Peter Roberts Korean defence group Hanwha has made a bid to buy one of the few Australian-owned defence prime contractors, shipbuilder Austal, and take it into foreign control. The bid was confirmed this morning by the Perth shipbuilder, which has expended from aluminium ferry building to become a major defence shipbuilder in Australia and…
The directors of building products group Adbri have entered into a scheme implementation deed under which a consortium of global building supplies group CRH plc and local premixed concrete supplier Barro Group will acquire the company. The partners made a non-binding offer valuing cement and lime manufacturer Adbri at $2.1 billion. Barro Group already owns…
Mesoblast secures FDA approval for heart disease treatment Biotechnology company Mesoblast has secured US Food and Drug Administration (FDA) approval for its Revascor heart disease treatment. The FDA issued a rare pediatric disease (RPD) designation for Revascor following submission of results from a trial in 19 children with hypoplastic left heart syndrome (HLHS). Revascor is…
Veteran building products supplier Adbri could be the latest Australian manufacturer to fall to overseas control following an offer from a consortium of global building supplies group CRH plc and local premixed concrete supplier Barro Group. The partners have submitted a non-binding offer pitched at 9x EBITDA profit and a 41 percent premium to the…
By Peter Roberts Another day another takeover of an Australian manufacturer, this time of ginning company Namoi Cotton. The directors of the company, which operates 10 cotton gins on the east coast and in Northern Western Australia, have said they intend to recommended shareholders accept a takeover offer from Louis Dreyfus Company Asia Pte Ltd…
One of Australia’s largest plastics groups MM Plastics has acquired Dangenong South, Melbourne injection moulding firm Micro Precision Plastics (MPP). MM Plastics, a division of Metal Manufactures Limited, bought the family-owned maker of components, products, and assemblies serving industries including Automotive, Consumer Goods, Safety, Spa & Pool, Building & Construction, Pharmaceuticals and Housewares MPP houses…
Interests associated with the Chairman of packaging manufacturer and recycler PACT Group Raphael Geminder have moved to take over the ASX listed company and take it private. Privately owned Kin Group through subsidiary Brennamon Industries today launched an unconditional off market offer to buy all the PACT Group shares it does not own at 68…
Rapid welding technology manufacturer K-TIG has failed to meet its planned transaction date for the purchase of UK advanced manufacturer Graham Engineering Limited (GEL). The company’s share purchase agreement (SPA) to acquire the business as an entrée to the UK nuclear decontamination field reached its sunset date of 31 August with a number of conditions…
