Breakfast Deals: Packer to the rafters

James Packer moves into online US real estate classifieds, while the clock ticks down on Perpetual's response to IOOF's Trust Company bid.

James Packer has used some of the proceeds from his recent Seek and Magellan stock sales to make a major, and so far very profitable, investment in an online US real estate group. It’s the latest sign of where his investment interest lies. Elsewhere, Perpetual has three business days to respond to IOOF’s bid for The Trust Corporation, Perilya gets a healthy $270 million takeover offer, Woolworths makes a smart political move and mining M&A hits a wall. 

James Packer, Zillow, Seek, Crown, REA Group

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