The traditionally quiet time for businesses in the days before Christmas has been set aside as six Western Australian companies today unveiled merger and acquisitions plans valued at over $506 million.
The traditionally quiet time for businesses in the days before Christmas has been set aside as six Western Australian companies today unveiled merger and acquisitions plans valued at over $506 million.
Firms with predominant interests in the coal seam gas, recruitment, financial and health sectors today announced plans that will bolster their company's resources in the new year.
The largest known takeover of the day is of South Perth-based coal seam gas explorer Pure Energy, will merge with Queensland company Arrow Energy in a cash and scrip deal valued at $479 million, based on today's value of shares.
Pure Energy directors have unanimously accepted the offer in the absence of a superior offer.
The offer comprises $2.70 cash for each share in Pure Energy plus 1.2 Arrow Energy shares for every share in the target. For more details, check the story out at http://www.wabusinessnews.com.au/en-story/1/69341/Pure-Energy-to-merge-with-Arrow-Energy
Meantime, Patersons Securities announced it will acquire West Perth-based Montagu Stockbrokers for an undisclosed sum.
The Montagu acquisition comes as no surprise with reports surfacing last month that the broker was in merger talks with DJ Carmichael and Co.
Montagu will integrate into Paterson's existing Perth operation and trade under the Paterson name. Check the story out at this link: http://www.wabusinessnews.com.au/en-story.php?/1/69339/Montagu-merges-with-Patersons-Securities
Meantime, Advanced Ocular Systems will complete its transformation into a scaffolding company following a $22.5 million merger deal with Singapore-headquartered International Formwork & Scaffolding.
The deal is effectively a backdoor listing for IFS, with AOS management and board control to pass to existing IFS directors and the AOS office relocating to IFS' Malaga base.
The offer consists of AOS issuing 1.575 billion shares at 1.43 cents each to IFS and 787.5 million options with an exercise price of 2.5c.
Following the issue, AOS will consolidate its issued capital on a 1 for 14 basis. The story can be seen at this link: http://www.wabusinessnews.com.au/en-story.php?/1/69337/Advanced-Ocular-Systems-in-22m-merger
Finally Total Staffing Solutions has announced it will acquire Ultimate Skills in a $5 million scrip deal.
The merger is subject to due diligence by both companies. For further details of the deal, check the story out at: http://www.wabusinessnews.com.au/en-story.php?/1/69347/Total-Staffing-in-5m-acquisition-deal-
