Market News

Woodside Energy (ASX:WDS) and Santos (ASX:STO) have officially confirmed media reports that both companies are engaged in preliminary discussions regarding a possible merger. While it’s important to note that these discussions are in their early stages and may not necessarily lead to a merger, the potential combination of these energy giants, with a combined market […]

The Australian sharemarket saw minimal gains as metals and oil stocks fluctuated throughout the day, with the S&P/ASX 200 closing just 4.1 points higher at 7199. Mining stocks, particularly gold miners, suffered a 0.6% decline due to a drop in the price of gold, influenced by strong US jobs data. Conversely, energy stocks rose by

Australia’s stock market saw an increase in midday trading driven by several merger and acquisition deals and a rise in energy sector stocks. Sigma Healthcare announced a significant merger with Chemist Warehouse, creating an $8.8 billion retail powerhouse. Additionally, Kin Group increased its buyout bid for Pact Group, leading to a 23% surge in Pact

Grand Gulf Energy (ASX:GGE) has announced that the Jesse-1A well unexpectedly flowed significant helium to the surface during initial re-entry operations. Managing Director Dane Lance commented, “In the event of a successful flow-test Grand Gulf has the potential to quickly move to production, potentially within 6 months, requiring minimal capex given the existing gathering infrastructure

Even hard-nosed billionaires can yield to minority shareholders in takeover situations, as seen last Monday. Melbourne billionaire Ralph Geminder has been compelled to raise his bid for Pact Packaging (ASX:PGH), a company under his control. The board of the Melbourne-based packaging company has now recommended that shareholders accept the billionaire’s new proposal, after previously advising

According to US media reports, Arkhouse Management and Brigade Capital have recently submitted a proposal to acquire the chain for $21 per share, compared to Friday’s closing price of $17.39. This represents a more than 2% increase for the day and a 1.8% increase for the week, valuing Macy’s at $4.77 billion. The Wall Street

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events. Investment markets and key developments over the past week Share markets were mixed over the last week with US shares up 0.2% for

Private-owned Chemist Warehouse is set to become an ASX 200 top company through its backward takeover of Sigma Healthcare (ASX:SIG), creating a company valued at an estimated $8.8 billion. Sigma announced on Monday that it plans to raise $400 million as part of the merger, bringing together its wholesale and franchise pharmacy business with Chemist

The possible sale of major US independent energy group Endeavor Energy Partners provides a timely yardstick for the pricing of the potential takeover of Santos by Woodside Energy. Analysts suggest that Woodside’s offer will likely consist of an all-paper bid, offering a modest 12% premium at best. Endeavor stands out as a relatively more affordable

The S&P 500 rose on Friday to hit a new high for the year after the November jobs report and University of Michigan consumer survey data signalled a resilient economy and cooling inflation, fuelling hopes for a so-called soft landing scenario. The S&P 500 added 0.41 per cent to settle at 4,604.37, while the Nasdaq