Deals

Perth's status as a significant outpost in the national information and communications technology sector could be threatened by the likely loss of key major local headquarters following recent mergers and acquisitions activity.

It may seem like an entirely offshore deal, but Japanese tech giant Panasonic’s purchase of US satellite communications provider ITC Global has a strong Western Australian flavour.

With one foot in a Doc Martens boot and the other in a Vans sneaker, the owner of The Athlete's Foot is stepping into new territory.

Doray Minerals has appointed PCF Capital Group as adviser as the company plans to secure funding for the construction and development of its Deflector gold-copper project near Geraldton.

Biotech company Admedus has initiated a capital raising comprising a placement and rights issue, with the hope of generating up to $28 million to fund ongoing development of various health care programs.

Aziana was one of three Perth exploration companies to release details today of plans to leave the resources sector behind, through reverse takeovers of businesses in sectors as diverse as artificial intelligence, medical cannabis and e-commerce.

Technology developer and investor Orbital Corporation has reshaped its board as it implements a new growth strategy, adding investment banker John Poynton as a director and promoting experienced minerals executive John Welborn to chairman.

Galaxy Resources’ $223 million sale of its Jiangsu lithium carbonate plant to a Chinese buyer has received shareholder approval from both parties after multiple delays and timeframe extensions.

Perth-based minerals explorer Talga Resources has received firm commitments for a discounted placement to raise $5.5 million.

Shares in Minbos Resources surged on news it has entered into an agreement to sell half of the company to joint venture partner, Petril Projects, in exchange for full ownership of the Cabinda phosphate project in Angola.

Perth-based mineral sands producer Iluka Resources has created a new senior executive role to focus on two growth opportunities involving new technology in the UK and Brazil.

James Packer's Crown Resorts is seeking to raise around $400 million through an issue of subordinated notes to help fund developments.

Takeover target iiNet has re-signed media consultant OMD WA following a competitive tender process.

Nedlands-based pharmaceutical company PharmAust has raised about $3.1 million in an oversubscribed placement to fund clinical trials for its cancer drug.

Gleneagle Gold announced its intention to exit the resources sector through the back door today, with a proposal to buy a Melbourne-based unlisted biotechnology company for a share package worth $2 million.

Energy giant BP will hold onto its Perth bitumen business but will sell the rest in the country to Puma Energy for an undisclosed amount.

Emeco Holdings has diversified its business outside the mining sector by purchasing truck and trailer rental company Rentco, which was founded in 1994 by Perth brothers Bob and John Shier, in a structured deal worth at least $52 million.

Sydney-based TPG Telecom and its competitor iiNet scored a rare double today after announcing a friendly takeover offer, with shares in both the bidder and its Subiaco-based target rising strongly as investors welcomed the combination as a logical strategic fit.

Shares in technology company Avita Medical tumbled today on news it had closed a heavily discounted placement to raise $5 million.

Oil and gas company Neon Energy has reversed its decision to accept Evoworld Corporation’s takeover proposal, after an independent expert's report found the deal to be unfair.

The companies that run Melbourne’s trams and the Gold Coast’s privately owned light rail service are set to enter the Western Australian market after buying one of Perth’s major bus operators.

Tech companies Dubber Corporation and xTV Networks have announced major new deals after completing backdoor listings on the ASX, with investors in Dubber sitting on healthy gains today.

Shares in Gulf Minerals Corporation surged on news it had signed a $26.3 million equity funding deal with Sigur Holdings to cover development costs at its manganese smelting project in Indonesia.

Iron ore rivals BHP Billiton and Rio Tinto are united in their forecast more high-cost producers will leave the market, but have stopped short of predicting how Western Australia’s higher-cost producers will fare over time.

Perth-based minerals explorer Rift Valley Resources has signed a deal to wholly acquire the Mtemi Resources Group of Companies after completing a $4 million capital raising.

Oil and gas modelling software provider Stochastic Simulation has entered into a $5 million deal to acquire modelling technology from Predrill Stresses International.

Perth-based PLD Corporation will proceed with acquiring three zinc and nickel projects, including collapsed miner Kagara’s Admiral Bay zinc project, now that it has secured about $10 million from two mining finance managers, including Resource Capital Funds.

Viento Group has announced it will attempt to raise up to $7.23 million through a rights issue pitched at less than half its current share price.

CI Resources will investigate new investment opportunities in the palm oil, phosphate and fertiliser industries, following its compulsory acquisition of all remaining shares in Phosphate Resources.

West Perth- based explorer Sheffield Resources will sell its Oxley potash project, near Geraldton, to South Australian Centrex Metals for $2.5 million.

Fitzroy Resources is set for big changes after winning backing from prominent Perth investors Tony Grist and Rod Jones.

Welshpool-based Mount Ridley Mines has announced a $3.24 million placement for exploration at its Fraser Range nickel-copper project, with the company already receiving commitments in excess of this amount.