After five months of pursuit, the board of Estia Health have agreed to the revised offer of $838 million from US private equity firm Bain Capital. The deal, subject to shareholder approval, will see the firm buy Estia for $3.20 per share, a 50% premium from the initial time of the offer.
By Charlie Ormond,
Former Twitter founder Jack Dorsey’s fintech baby Block Inc has seen its shares tumble by 10.16% today, despite beating quarterly earnings and raising its forecasts for the year.
By Charlie Ormond,
Link Administration Holdings shares are down by 3.85% after releasing preliminary FY23 results showing a loss of $418 million from a £235 million UK settlement related to its soon-to-be ex-British company’s involvement with a failed equity fund.
By Charlie Ormond,
DroneShield shares are up by 7.5%, trading at 32 cents after the company announced the launch and initial order of its targeted area-specific Satellite Denial Systems by a Five Eyes alliance member.
By Charlie Ormond,
Credit Corp group released its FY23 results showing the company had an NPAT of $91.3 million, down by 5% from last year, despite growth in its books. It seemed like sluggish US collections, and a rising headcount dragged the debt company down.
By Charlie Ormond,
The ASX 200 Energy (XEJ) Index was up 4.7% this week, bringing its last 12 months’ gains to 15.42%. This has occurred as Brent Crude edged above $84 a barrel yesterday for the first time since April, while WTI Crude also crossed $80 per barrel.
By Charlie Ormond,
WA shipbuilder Austal released an updated earning guidance that slashed its forecasted earnings from $58 million to a potential loss of $10 million after slower production at its new steel manufacturing line in the US.
By Charlie Ormond,
Woodside Energy shares were up by 1% today after both oil crude benchmarks passed their 52-week average. Brent crude is currently at US$ 82.85 as supply remains constrained by OPEC for the foreseeable future.
By Charlie Ormond,
Micro-X shares were up by 28.57% after the announcement today of the extension of its contract with the DHS to build and test a self-screening airport module. The contract is worth up to AU$21 million and will see testing that will eventually progress to a pilot program in one or more US airports.
By Charlie Ormond,
Flight Centre posted improved earnings estimates for FY23 after travel demand regained its pre-pandemic footing. Shares were up by 4.95% today after the announcement, signalling further optimism by investors for a return to regular travel.
By Charlie Ormond,
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