Deals

Perth-based mining services company Imdex today announced two capital raisings with a $28 million placement and $7 million share purchase plan.

Willis is set to become one of the largest insurance brokers in Western Australia after buying CKA Risk Solutions, which was established in Perth 11 years ago.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

The corporate watchdog has warned that a future merger between any two of the remaining fixed broadband suppliers would raise serious concerns, while also giving the go-ahead for TPG Telecom’s $1.6 billion takeover of iiNet.

Balcatta-based drilling services company Imdex has confirmed reports it is seeking to undertake a $35 million capital raising to pay off debt, while also announcing a net loss of $22.5 million for the 2015 financial year.

Shares in VDM Group were up 125 per cent on news it had attracted a new cornerstone investor for an $18 million capital raising, highlighting the company’s planned shift from construction to mining.

Naracoota Resources has announced plans to exit mining and enter the tech sphere through the reverse takeover of a health informatics company backed by Perth technology entrepreneur Nathan Buzza, in a deal worth $12.4 million.

National rail and freight operator Asciano has agreed to a $12 billion takeover by Canada's Brookfield Infrastructure Partners, which is planning to seek a listing on the ASX.

Welshpool-based logistics company Jolly & Sons has sold its John Deere dealerships in Dalwallinu and Wongan Hills to AFGRI Equipment Australia, the Midland-based subsidiary of South African agricultural services company AFGRI.

Perth-based Viburnum Funds looks set to receive roughly $31.4 million for its shares in Australian ophthalmology company Vision Eye Institute after Vision announced an agreed takeover bid by Chinese firm Jangho.

Perth-based precious metals companies Black Mountain Resources and Torian Resources both announced capital raisings today.

A planned backdoor listing by technology company Yatango, which was backed by top-shelf advisers and boasted iiNet founder Michael Malone as one of its directors, has fallen through after being hit by tough market conditions and a run-in with the corporate regulator.

Fitzroy Resources has announced plans to wholly acquire Californian technology company 4D-S, in a backdoor listing valued at about $7.7 million.

Bankwest has announced an 11 per cent rise in cash net profit to $752 million for the year to June 30, while its parent company Commonwealth Bank of Australia unveiled a record $9.15 billion cash profit.

A listed company led by Forge Group founder Peter Hutchinson and former AFL footballer James Clement has announced its second acquisition this year, adding Craig Mostyn Group’s food services division to an earlier seafood deal.

Mongolia-focused miner Tian Poh Resources has announced plans to buy a thermal coal project from Modun Resources for $US2.21 million ($A3 million) and undertake a capital raising to fund the acquisition.

Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining’s recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

WorleyParsons has sold subsidiary company Exmouth Power Station to Canadian asset management company Fengate Capital Management in a $19.6 million deal.

Brisbane-based law firm Shine Corporate has made its second acquisition in Western Australia, paying $13.3 million for personal injury specialist Bradley Bayly Legal, after paying a higher price last year for Stephen Browne Personal Injury Lawyers.

Perth-based Indian sandalwood company TFS Corporation has completed its purchase of US-based pharmaceutical companies Viroxis Corporation and Santalis Pharmaceuticals.

Perth companies MCS Security Group and Intiga Security are planning to list on the ASX through a reverse takeover of Red Gum Resources, following a similar move by Threat Protect Australia, which is also pursuing a backdoor listing.

Skilled Group is facing a writedown of up to $67.4 million in relation to its takeover by rival labour hire business Programmed Maintenance Services.

Boutique law firms Borrello Legal and Graham & Associates have joined forces, with principal partner Mark Borrello saying the merger would provide a solid platform to establish the company as a leader in property, commercial law, and dispute resolution.

Perth-based telecommunications business Vonex’s backdoor listing through acquisition by Aleator Energy has received a big boost after the Aleator share purchase plan closed 374 per cent oversubscribed.

A Singaporean supplier of cranes and heavy machinery has emerged as a substantial shareholder of mining services player McAleese Group, spending over $3 million to acquire more than 9 per cent of the company.

Shares in technology hopeful Oz Brewing jumped 33.3 per cent after it concluded a reverse takeover deal with 3D printing company 333D, which was more than a year in the making.

Subiaco-based Lucapa Diamonds raised $4 million from a placement of shares to grow cash flows at its Lulo Diamond Project in Angola.

Atrum Coal shares almost halved in price after the company announced a heavily discounted entitlement offer to raise $5 million.

Shareholders of internet services provider iiNet have overwhelmingly approved a proposed $1.6 billion takeover of the company by TPG Telecom.

Heron Resources has announced an equity funding package with London-based private equity fund Greenstone Resources of up to $20 million.

iiNet shareholders have shown their continued interest in the business, with a large number choosing to take TPG’s share offer rather than cash.

Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.