30/05/2008 - 06:41

Today's Business Headlines

30/05/2008 - 06:41

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ANZ's $350m to settle Opes; Tycoon bets $120m on Mid-West union; Nickel miner Sally Malay in play, says MD; Well heeled jump into revamped Repcol; Brierty downgrades fuel litigation threat


ANZ's $350m to settle Opes
ANZ is looking to put an end to the damage it has incurred from the fallout from the collapse of Opes Prime Stockbroking by paying the broker's clients $350 million in compensation for liquidating their share portfolios. The Fin Review

Tycoon bets $120m on Mid-West union
Harbinger Capital chairman Philip Falcone, the New York fund manager who turned a $155 million investment in Fortescue Metals Group into a $4.7 billion fortune, has bt $120 million on the merger of Murchison Metals and Midwest Corp creating Australia's fourth-biggest iron ore producer. The West

Nickel miner Sally Malay in play, says MD
Australian nickel producer Sally Malay is in play and considers itself an attractive takeover target, but has not had an approach from potential suitors, according to managing director Peter Harold. The Australian

Well heeled jump into revamped Repcol
Debt collector Repcol completed its recovery from last year's near-death experience when it resumed share trading yesterday after 15 months, supported by a who's who of Perth's financial community that belied its status as $16 million minnow. The West

Brierty downgrades fuel litigation threat
The litigation seagulls are flying over beleaguered civil construction group Brierty in the search for any evidence that may exist to show that the company failed to keep the market fully informed about the extent of its financial woes over the past two months. The West

THE WEST AUSTRALIAN

Millionaire prospector Mark Creasy is free to develop his family's historic Peppermint Grove property which has been at the centre of a 13-year battle after the Upper House yesterday upheld an unprecedented move to take it off the heritage register.

Business: Harbinger Capital chairman Philip Falcone, the New York fund manager who turned a $155 million investment in Fortescue Metals Group into a $4.7 billion fortune, has bt $120 million on the merger of Murchison Metals and Midwest Corp creating Australia's fourth-biggest iron ore producer.

Debt collector Repcol completed its recovery from last year's near-death experience when it resumed share trading yesterday after 15 months, supported by a who's who of Perth's financial community that belied its status as $16 million minnow.

Ownership of Queensland's burgeoning coal-seam gas industry is set to swing decisively into foreign hands in two deals worth a combined $16.6 billion.

The litigation seagulls are flying over beleaguered civil construction group Brierty in the search for any evidence that may exist to show that the company failed to keep the market fully informed about the extent of its financial woes over the past two months.


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