When Spotless Group announced a partial engagement with private equity suitor Pacific Equity Partners with a management presentation to shareholders, chairman Peter Smedley won praise across the board for his practicality and transparency. Now that the presentation is out in the open, directors will be watching to see whether it can successfully coax a predator into putting up more money, or convince shareholders that such a thing should be expected. Meanwhile, in Australia’s white-hot coal sector, reports are pointing towards a very quick agreement between Gloucester Coal and Yancoal Australia, and major shareholder Noble Group is ripe for a deal. In media, Nine Entertainment has a new chairman at an interesting time in the company’s history, to say the least, while Fairfax Media is said to be about to deal with an old friend. Finally, CSG Limited shares have been smashed after the company called off takeover talks, while Arrow Energy has finally hit the bullseye.
Spotless Group, Pacific Equity Partners