BREAKFAST DEALS: Pacific bunker

Pacific Brands refuses exclusive talks with suitor KKR, while an EGM could be on the cards at Spotless.

Pacific Brands boss Sue Morphet has battled hard – often in the face of undue public criticism – to fortify the walls of the clothing company in the face of a shifting manufacturing landscape. While the unsolicited offer from Kohlberg Kravis Roberts is welcome after a prolonged share price slump, Morphet isn’t going to give the company away and has reportedly declined to give the private equity suitor exclusive discussions. Meanwhile, Spotless Group chairman Peter Smedley might be destined for a showdown with shareholders after Pacific Equity Partners gawks at the standards he’s set for due diligence. Elsewhere, Andrew Michelmore is sticking with his bid for Anvil Mining (with Minmetals extending its offer for a third time), all of the big four banks are reportedly looking at Royal Bank of Scotland’s local investment banking assets and Murchison Metals has been given a crucial green light ahead of a shareholder vote on the Oakajee Port & Rail Project deal.

Pacific Brands, Kohlberg Kravis Roberts

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