DataRoom AM: Stokes in the spotlight

Billionaire Kerry Stokes has a busy start to the week as Seven Group tightens its grip on Nexus Energy, while investors hope a higher bid for Treasury Wine Estates is on its way.

Billionaire Kerry Stokes appears desperate to be at the centre of oil and gas consolidation in Australia as Seven Group strikes its first big blow in the sector, but it isn’t the only non-media industry in which he is playing a major role in M&A action.

Elsewhere, a bidding battle stirs for Treasury Wine Estates, RetireAustralia opts to hold off on an IPO, Macquarie Group pushes back against a sale of a major Brisbane toll road and Frasers Centrepoint holds firm in negotiations with Stockland.

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