The wave of backdoor listings on the ASX in the past year suffered a setback this week, with two deals being cancelled and a third business going into administration.
Lithex Resources has scrapped its planned purchase of internet marketing business Mpire Media, which was the second business Perth entrepreneur Zhenya Tsvetnenko was seeking to list on the stock market.
Liberty Resources is set to proceed with its move into the IT sector, through the acquisition of Cirrus Networks, after taking the extraordinary step of having a board spill to hasten the removal of two directors.
The consumer watchdog is probing Woodside Petroleum's $US2.75 billion purchase of oil and gas assets from US energy company Apache, over concerns the deal could affect the supply of wholesale gas in the Western Australian market and lead to higher gas prices.
West Perth-based junior miner African Energy Resources has farmed out a 51 per cent stake in its Sese coal and power project in Botswana to a Vancouver-based firm for $8 million.
Medical marijuana company Phytotech Medical is set to be the year’s first listing in Western Australia, after taking special steps to deal with last-minute legal concerns by the ASX and keen demand from investors.
Perth-based mining services group Ausdrill has become a substantial shareholder in Titan Energy Services after subscribing for nearly $1 million worth of shares in the Brisbane firm’s capital raising last week.
Perth-based explorer White Star Resources says it has raised about $5.1 million and completed due diligence on its acquisition of unlisted technology business Spookfish.
Workforce provider Skilled Group risks making life difficult for itself if it rejects Programmed Maintenance Services' merger overtures, a brokers report suggests.
Resource Equipment director Andrew Aitken has accepted Pump Services’ $115.5 million takeover offer, giving the US-based firm majority control over the mining equipment provider.
Mineral sands miner Base Resources is pushing on with its takeover bid for World Titanium Resources, despite the target declaring yesterday the bid is not capable of succeeding.
Molopo Energy’s new board, led by Perth-based chair Samantha Tough, has announced the sale of its major asset and commenced a cost-cutting review, following a board shake-up last week.
Angus McKay will begin his new role as Skilled Group’s chief executive and managing director today, more than two weeks earlier than his original start date, to review a merger proposal by Programmed Maintenance Services.
The state government has split the advisory roles for the first tranche of its asset sales program as it starts a sell down process that it hopes will relieve its difficult budget position.
Perth-based Mineral sands miner Base Resources has launched a scrip takeover offer for ASX-listed World Titanium Resources, which owns the Toliara Sands project in Madagascar, after securing extra funds for its Kwale project.
Neon Energy has backed out of a merger agreement with MEO Australia after Evoworld Corporation agreed to make a revised off-market takeover offer for 50 per cent of the shares it doesn't already own in the oil and gas producer.
Two of Perth's top radio stations are under new ownership after Fairfax Media sold 96FM for $78 million and merged its other national radio assets, including 6PR, with Macquarie Radio Network.
The ASX-listed parent company of law firm Rockwell Olivier has been placed in administration, opening up the possibility of its partners buying back the business.
Shares in Perth company Resource Equipment have climbed 85.7 per cent today after the board recommended a cash takeover offer valuing the company at $115.5 million.
Vocus Communications has been successful in its bid to take over Amcom Telecommunications with the pair agreeing to a deal valuing Amcom at $652.7 million.
Local engineering and construction business Valmec will purchase the Australian subsidiary of US oil and gas services giant Exterran, funding the purchase through cash reserves and additional debt.
Engine technology developer Orbital Corporation plans to raise $10 million via a convertible note issue to fund its acquisition of electrical product manufacturer REMSAFE.
Perth-based residential rentals-dedicated website rent.com.au is going public, unveiling a $10 million-plus plan to list on the Australian Securities Exchange via a backdoor listing through Select
