BREAKFAST DEALS: Wesfarmers cover

Wesfarmers may be mulling a bid for IAG, while Nine Entertainment moves closer to banker control.

Depending on your perspective, Insurance Australia Group and Wesfarmers can be considered prime examples of what happens when takeovers go wrong. IAG’s share price has struggled since rebuffing QBE’s Frank O’Halloran, while Wesfarmers boss Richard Goyder famously came under enormous pressure after saddling the WA-based conglomerate with an enormous debt burden to buy Coles – more than it was worth – just before the GFC. You’d have to argue that Goyder’s decision is looking better and better by the day, but speculation has emerged that Wesfarmers is having a look at IAG. If it’s true, has either company learnt from the past? Meanwhile, it appears increasingly likely that Nine Entertainment will end up in the hands of its bankers just like Kerry Stokes foretold, with the latest CVC Asia Pacific debt deal getting another cold reception. Elsewhere, Qantas Airways says its Kuala Lumpur plans are still alive despite new moves from Malaysia Airlines, a TPG Telecom-iiNet merger has a new champion and Austar is getting its papers in order for a Foxtel merger.

Insurance Australia Group, Wesfarmers

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles