News Articles for Ashurst

The ranking of Perth's major law firms has changed substantially over the past two years.

AP Eagers has made a takeover bid for Automotive Holdings Group, which values the struggling West Perth-based car retailer at around $635.4 million.

Navitas directors have recommended shareholders accept an increased $2.1 billion takeover proposal by a consortium that includes its founder and former chief executive, Rod Jones, who says the new ownership would boost the company's prospects .

Just hours after the developers of a $670 million waste-to-energy project announced they planned to start construction after obtaining all necessary approvals, the state government disclosed it has asked the Environmental Protection Authority to conduct further investigations.

Construction of Australia's first large-scale waste-to-energy facility will start this month in Kwinana after investment groups Macquarie Capital and DIF bought the Phoenix Energy project. Once completed at a cost of $668 million, the Kwinana facility will transform waste treatment in Perth.

Navitas co-founder and former managing director Rod Jones has backed an indicative takeover bid for the education services company led by Australian private equity giant BGH Capital.

Hume to lead Variety

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.

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.

Perth companies Global Construction Services and SRG have announced an agreed merger that brings together their contracting, construction and engineering services into a combined group with an expected value of $332 million.

Chevron Australia managing director Nigel Hearne has proposed a major shift in the development of WA's offshore gas reserves, suggesting the industry should collaborate to build a multi-user pipeline to be shared by multiple LNG producers.

Allen & Overy has promoted David Jenaway to partner in its Perth litigation team. Dr Jenaway joined A&O in 2014 as a senior associate, after six years with Herbert Smith Freehills.

Perth-based Andrew Hopkins has led a $508 million buyout of national panel beating business AMA Group, with the deal backed by private equity giant Blackstone.

SPECIAL REPORT: There has been a flurry of high-profile moves by senior lawyers in Perth as the sector readies for a pick-up from several quiet years.

SPECIAL REPORT: There have been some big moves among corporate finance dealmakers in Perth, who worked on more than 850 transactions worth nearly $25 billion in 2017.

Kalgoorlie-based bank Goldfields Money has agreed to a scrip-based merger with mortgage aggregator Finsure, valuing the combined group at $97.5 million.

Finders Resources has urged its shareholders to reject a takeover bid from Indonesian group Eastern Field Developments after independent expert Deloitte valued the copper miner well above the 23 cents offer price, despite Finders' share price continuing to hover near that mark.

Brisbane-based Firstmac Holdings said today it would not extend its cash takeover offer for Goldfields Money, which has recommended shareholders support an alternative scrip-based merger with mortgage aggregator Finsure.

Automotive Holdings Group has sold its underperforming refrigerated logistics business to Chinese conglomerate HNA Group for an enterprise value of $400 million.

Halom Investments has asked the Takeovers Panel to revise MMA Offshore's planned $97 million capital raising, claiming the deal is designed to entrench the control held by the incumbent board.

The independent directors of Finders Resources have questioned some of the claims and assumptions used by Indonesian group Eastern Field Developments, which has announced a takeover offer for the West Perth company.

The Supreme Court has ordered privately owned mining company Global Advanced Metals to open its books to a minority shareholder, despite the shareholder being a competitor, a litigation adversary in the US, and having a chief executive who was found to have carelessly handled confidential information supplied earlier this year.

Yindjibarndi Aboriginal Corporation will seek compensation from Fortescue Metals Group after the Federal Court recognised it has exclusive rights over Pilbara land where the company operates the Solomon hub.

SPECIAL REPORT: Perth companies Macmahon Holdings and ASG Group have illustrated how contested takeover deals can deliver unexpected outcomes.

Investors have welcomed news this morning that Programmed Maintenance Services will be purchased by a Japanese staffing company for about $780 million in cash.

Local law firms make moves

SPECIAL REPORT: The mergers and acquisitions market was eventful in the March quarter, with Chinese and private equity investors to the fore, multiple WA businesses on the block, and a surprise advisory switch on a key takeover.

Loss-making livestock exporter Wellard is undertaking a share placement and entitlement offer as part of a $52 million capital raising it hopes will allow it to exploit a predicted improvement in trading conditions.

SPECIAL REPORT: The shake-out in Perth's legal services market is producing some surprising winners and losers, with one of the best performers being a firm many had expected to wither.

Macmahon Holdings has criticised CIMIC Group's proposed $174 million takeover offer, saying its preliminary view was that it does not represent fair value of the business, and has told its shareholders to take no action.

SPECIAL REPORT: There was a big rise in the number and value of completed capital raisings in WA last year, according to data compiled in the BNiQ Search Engine.

SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.

A Federal Court ruling that was the first ever assessment of native title compensation in Australia is expected to lead to more claims by Aboriginal groups.

Iluka Resources has confirmed plans to wholly acquire Africa-focused miner Sierra Rutile in an all-cash deal valued at about $375 million.

Stuart James has been appointed partner in Resources & Utilities team of Ashurst in Perth.

Philip Edmands has been appointed as partner to the Perth office of Gilbert + Tobin, effective 1 June 2016.

Corporate law firm Gilbert + Tobin has recruited former Rio Tinto Australia managing director Philip Edmands as a new Perth-based partner.

SPECIAL REPORT: A flurry of deals over the past fortnight, including four acquisitions by international companies expanding in Western Australia and the year's largest capital raising, has added life to a flat corporate finance market.

SPECIAL REPORT: Local firms Azure Capital and Hartleys punched above their weight in 2015 in what was a lucrative year for a handful of top corporate advisers in WA. Click through to see which corporate advisers, lawyers and brokers managed 470 M&A and capital raising deals.

A recent office leasing deal at Exchange Tower has illustrated the lengths to which landlords are going to attract tenants, as vacancies continue to rise across the CBD.