BREAKFAST DEALS: Hochtief creep

Hochtief's latest Leighton grab puts an end to its standstill agreement, while Billabong debt attracts a US buyer.

After the close of trading on Friday, as the new prime minister continued to set the headlines, Leighton Holdings announced that the long standstill agreement with Spanish giant Hochtief was history. Meanwhile, now we know one of the buyers of Billabong debt, while Pearson Plc has denied it’s in talks to sell the Financial Times to a News Corp consortium, and Macquarie has bumped up its stake in Yellow Brick Road as part of a capital raising with a big premium.

Leighton Holdings, Hochtief

The grand march up the Leighton Holdings register has begun, with majority shareholder Hochtief increasing its stake in the contractor to 54.96 per cent from 53.5 per cent.

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