Deals

Three weeks after acquiring a strategic blocking stake in Atlas Iron, Fortescue Metals Group has for the first time confirmed that its main interest in the takeover target is the rights to develop new berths at Port Hedland.

Perth-based Pacifico Minerals has announced it will take a 75 per cent stake in the Sorby Hills lead and silver project north of Kununurra in a cash-and-scrip deal worth up to $4.1 million.

Margaret River winery Vasse Felix is set to acquire the principal assets of Watershed Premium Wines, under a $20 million deal that allows Watershed’s cellar door and restaurant to continue operating under a two-year lease agreement.

The battle for Atlas Iron has taken another twist after Fortescue Metals Group submitted an application to the Takeovers Panel questioning the veracity of the $390 million takeover offer by Gina Rinehart’s Hancock Prospecting.

Three junior explorers have announced capital raisings worth up to $29.5 million, with Denis Waddell-led Orion Minerals tapping investors for $17.3 million.

Junior gold explorers Spitfire Materials and Excelsior Gold, which own neighbouring projects north of Kalgoorlie, have agreed to a merger, with the new entity worth about $80 million.

Perth investor Andrew Hopkins’ planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.

Subiaco-based Eve Investments has purchased tea tree oil business Jenbrook in cash and scrip for about $3.4 million.

Marindi Metals has agreed to sell its Bellary Dome conglomerate gold project in the Pilbara to Canada-listed Pacton Gold in a cash-and-scrip deal worth up to $11 million.

Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.

BP Australia has backed out of a deal with Woolworths to buy its petrol business more than six months after the consumer watchdog rejected the deal.

Atlas Iron's board has backed a takeover bid by billionaire Gina Rinehart after rival bidder Mineral Resources pulled out of contention.

Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.

ASX-listed tech company Dreamscape Networks has made its fourth acquisition in the past 16 months, purchasing a domain registration business for $8.5 million.

Atlas Iron has given ASX-listed rival Mineral Resources three days to respond to the $390 million takeover bid by Gina Rinehart's Hancock Prospecting.

Gina Rinehart-led Hancock Prospecting has proposed a $390 million takeover offer for Atlas Iron, less than a week after purchasing a 19.9 per cent stake in the junior miner.

South32 has made a $US1.3 billion ($A1.75 billion) bid to take sole ownership of US-focused Arizona Mining.

Perth investor Tony Grist is set to take charge of US-focused 3D printing company Robo 3D, which has announced the acquisition of a US software company operating in a related field and major cost cuts in its existing business as it seeks to achieve breakeven trading.

Perth-based Ausgold has tapped investors for $2.4 million to fund continued exploration work at the company’s Katanning project.

Mineral Resources has struck a deal to purchase the Koolyanobbing iron ore mine from US-based Cleveland Cliffs, after getting support from the state government and railway owner Arc Infrastructure for a deal that will save up to 400 jobs around Southern Cross and Esperance.

Local telco business Vonex started trading on the ASX today, after the company raised $6 million via an initial public offering.

The ownership of two major gas pipelines in Western Australia could change hands after a Chinese consortium proposed a $13 billion takeover of energy infrastructure giant APA Group, one year after the same consortium bought DUET Group, which owns the Dampier to Bunbury gas pipeline.

Gina Rinehart’s Hancock Prospecting has acquired a 19.6 per cent shareholding in takeover target Atlas Iron, joining Mineral Resources and Fortescue Metals Group in the battle for control of the mid-cap iron ore miner.

WestStar Industrial has secured a design and management contract for a mixed-use commercial property development in West Perth, while also announcing a $1 million capital raising.

West Perth-based Lithium Australia has acquired a lithium-tin project in Germany from its joint venture partner Deutsche Rohstoff in a cash and scrip deal worth about $3.1 million.

Perth companies Global Construction Services and SRG have announced an agreed merger that brings together their contracting, construction and engineering services into a combined group with an expected value of $332 million.

Transport and logistics business Centurion has secured a fuel haulage contract with Viva Energy and acquired contracts and vehicles from Perth-based Fuel Trans Australia.

Local tech company Nuheara has tapped investors for $6 million, with the proceeds set to fund an increase in inventory levels of its noise cancelling earbuds.

Uranium-focused Bannerman Resources has announced an $8 million capital raising to fund further studies on its Etango project in Namibia.

Mineral Resources has agreed to allow takeover target Atlas Iron to enter discussions with other parties, one day after the Andrew Forrest-chaired Fortescue Metals Group purchased a blocking stake in the junior iron ore miner.

Sandfire Resources has reached an agreement to purchase Talisman Mining’s stake in the Springfield joint venture project in the Goldfields region for $72.3 million.

Graphite-focused Hexagon Resources is seeking to raise up to $6 million to progress the company’s McIntosh project in the Kimberley.