Deals

Engineering firm RCR Tomlinson has secured new contracts worth a combined $100 million, including $48 million in water infrastructure projects in Western Australia.

The competition watchdog has given the go-ahead for Vocus Communications to merge with M2 Group in a $3 billion deal that will create Australia's fourth largest telco.

Perth company Minemakers has struck a deal with an African investor that will deliver new funding of $28 million for its Baobab phosphate project in Senegal.

An independent expert’s report commissioned by Aspen Group has concluded that its takeover of the Aspen Parks Property Fund is fair and reasonable and superior to a competing proposal.

Takeover target Asciano is hopeful Canada's Brookfield Infrastructure can still pull off its $8.9 billion bid, despite local logistics firm Qube moving to block the marriage.

Perth companies Valmec and Northern Minerals have struck agreements to raise up to a combined $8.2 million through the issue of convertible securities.

Wave technology companies Stonehenge Metals and Carnegie Wave Energy have released details of their plans to raise up to a combined $7.5 million.

Balcatta-based Orbital Corporation has sold its stake in engine management systems supplier Synerject to partner Continental Automotive Systems for $US17.8 million ($A24.9 million).

Santos and Quadrant Energy have signed a deal for the sale of the Stag oil project in the Carnarvon Basin to Malaysian company Sona Petroleum for $US50 million ($A70 million).

Monadelphous Group has been awarded a number of new contracts and extensions from clients including Woodside Petroleum, worth a combined $150 million.

A joint venture between UGL and UK company Cape has won a contract to provide services to the Woodside Petroleum-operated Karratha gas plant for an undisclosed sum.

The ownership of railways and stevedoring operations across Australia has been thrown into further doubt after logistics group Qube Holdings revealed plans for a break-up of Asciano, after teaming up with two big international investors to acquire a 19.9 per cent stake in the takeover target.

Norwegian company Yara International has moved to full ownership of the giant ammonia plant built by Pankaj Oswal in the Pilbara, paying a price that reflects the expected impact of higher gas prices in future.

Private equity group Auctus Chillagoe looks set to gain control of Atherton Resources, after major shareholders said they would vote in favour of the improved $56 million offer.

Local explorer Black Rock Mining has received firm commitments for a $5 million capital raising, including from an entity associated with its chairman, Stephen Copulos.

Engineering contractor Calibre Group has announced a radical restructuring that includes a partial buyout of minority shareholders, delisting from the ASX, and the purchase of Sydney-based company Diona for $45 million.

Uranium hopeful Bannerman Resources is looking to take full ownership of the Etango project in Africa and become debt free, through a deal with its two major shareholders.

Local explorers Burey Gold and Excelsior Gold a raising a combined $6.7 million to fund ongoing work at their respective gold projects.

MZI Resources will raise up to $45 million to repay loans and fund ongoing work, as its Keysbrook mineral sands project moves into production.

Oil and gas company AWE has sold its stake in the Cliff Head offshore oil project to Elixir Petroleum, for an upfront payment of $1 million.

Aspen Group’s battle for ownership of Aspen Parks Property Fund has intensified, after Discovery Holiday Parks put forward a $135 million takeover offer for the business.

Metals X’s $82 million takeover offer for embattled copper miner Aditya Birla Minerals won’t succeed after the target’s largest shareholder said it wouldn’t be accepting the offer.

Australia’s competition watchdog believes the planned global merger of oilfield services companies Halliburton and Baker Hughes could give the combined group, and current market leader Schlumberger, too much power.

A consortium including Programmed Maintenance Services has been named the preferred bidder for the ACT’s $150 million Law Courts Public Private Partnership, while the state government has signed a contract for Western Australia’s first schools PPP.

Oil and gas producers Drillsearch Energy and Beach Energy plan to create a $1.2 billion company with the backing of major shareholder Kerry Stokes.

Subiaco-based Nemex Resources has abandoned plans to wholly acquire Wavefront Biometric Technologies, but will instead raise capital and secure a majority stake in the target.

Local explorer RNI has sold its shareholding in Metals X for $23.4 million to pay off all its debt and fund new drilling work on its copper tenements in the Bryah Basin.

The competition watchdog has given pay-TV giant Foxtel the thumbs up in its attempt to buy up to 15 per cent of Network Ten television.

Shares in Santos have jumped after the struggling energy giant revealed it has rejected a $7.1 billion takeover bid this week.

South African fishing company Sea Harvest Group has committed to take its maximum possible entitlement under a planned $16 million-plus capital raising by Perth company Style.

Investors have welcomed news that engineering and contracting firm Monadelphous Group has teamed up with a family-owned company in the US to target work in the shale gas industry.

The competition watchdog has raised concerns regarding Automotive Holdings Group’s $43 million sale of its Covs Parts business to GPC Asia Pacific, which already operates the Repco chain.