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Panel dismisses FMG application

The Takeovers Panel has dismissed an application from Fortescue Metals Group questioning the veracity of Hancock Prospecting’s $390 million bid for Atlas Iron.

AHG logistics sale falls through

Automotive Holdings Group has confirmed the proposed $400 million sale of its refrigerated logistics business has fallen through after Chinese conglomerate HNA Group called off the deal due to liquidity issues and approval delays.

Atlas backs revised Hancock bid

The board of Atlas Iron has unanimously recommended a revised bidder’s statement from Hancock Prospecting, while also announcing the suspension of production at its Mt Dove iron ore mine due to challenging market conditions.

Tanami exercises $20m put option with Northern Star

Tanami Gold says it will exercise a put option forcing Northern Star Resources to buy a 15 per cent stake in the junior miner’s Central Tanami project for $20 million, after the Bill Beament-led company said it had not reached commercial production at the joint venture mine.

Talga in $8.5m raising

West Perth-based junior miner Talga Resources has announced an oversubscribed placement raising $8.5 million to fund growth of its graphite and graphene technologies business.

Carnegie sells EMC in merger deal

Carnegie Clean Energy has agreed to sell its battery storage and microgrid business to ASX-listed Tag Pacific as part of an all-scrip merger deal.

AHG flags doubts over $400m deal

Automotive Holdings Group has revealed that the planned $400 million sale of its refrigerated logistics business to Chinese conglomerate HNA Group will not be completed by the specified June 30 deadline, with the company unsure whether a deal will be reached.

FMG confirms Atlas port interest

Three weeks after acquiring a strategic blocking stake in Atlas Iron, Fortescue Metals Group has for the first time confirmed that its main interest in the takeover target is the rights to develop new berths at Port Hedland.

Capitol Health expands into Perth market

Melbourne-based medical services company Capitol Health has acquired six medical clinics in Perth as part of a deal worth up to $20.3 million.

Vasse Felix confirms Watershed purchase

Margaret River winery Vasse Felix is set to acquire the principal assets of Watershed Premium Wines, under a $20 million deal that allows Watershed’s cellar door and restaurant to continue operating under a two-year lease agreement.

Pacifico in $4m purchase

Perth-based Pacifico Minerals has announced it will take a 75 per cent stake in the Sorby Hills lead and silver project north of Kununurra in a cash-and-scrip deal worth up to $4.1 million.

FMG claims Hancock has misled Atlas investors

The battle for Atlas Iron has taken another twist after Fortescue Metals Group submitted an application to the Takeovers Panel questioning the veracity of the $390 million takeover offer by Gina Rinehart’s Hancock Prospecting.

Orion, Kibaran, Flinders raise $30m

Three junior explorers have announced capital raisings worth up to $29.5 million, with Denis Waddell-led Orion Minerals tapping investors for $17.3 million.

Spitfire and Excelsior in $80m merger

Junior gold explorers Spitfire Materials and Excelsior Gold, which own neighbouring projects north of Kalgoorlie, have agreed to a merger, with the new entity worth about $80 million.

ATO ruling halts $508m auto deal

Perth investor Andrew Hopkins’ planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.

Eve in $3m buy

Subiaco-based Eve Investments has purchased tea tree oil business Jenbrook in cash and scrip for about $3.4 million.

Marindi sells Pilbara gold asset

Marindi Metals has agreed to sell its Bellary Dome conglomerate gold project in the Pilbara to Canada-listed Pacton Gold in a cash-and-scrip deal worth up to $11 million.

Fleetwood sells caravan business for $1m

Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.

Local tech firms raise $13m

Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.

Dreamscape makes $8m acquisition

ASX-listed tech company Dreamscape Networks has made its fourth acquisition in the past 16 months, purchasing a domain registration business for $8.5 million.

Rinehart lobs $390m offer for Atlas Iron

Gina Rinehart-led Hancock Prospecting has proposed a $390 million takeover offer for Atlas Iron, less than a week after purchasing a 19.9 per cent stake in the junior miner.

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