Deals

Shares in Australian furniture maker and retailer Fantastic have soared on news it has received a $361.4 million takeover offer from larger rival Steinhoff Asia Pacific, the owner of Freedom and Snooze brands.

Global Construction Services will pocket $17.5 million when it completes the sale of its stake in Melbourne-based SmartScaff.

Iron ore miner BC Iron has confirmed a $25.5 million capital raising backed by major shareholder Kerry Stokes to fund work at its Buckland project and pay off debt.

Two well-known Leederville cycling businesses have hit differing problems this week, with retailer Riders Choice going into voluntary administration and accessory manufacturer Cycliq facing a regulatory speed bump on its path to an ASX listing.

Power generation company Pacific Energy’s second-largest shareholder has sold its $50 million stake in the business to a number of undisclosed investors.

AMP Capital has bought the newly built Eastern Goldfields regional prison, joining the likes of Catholic Super, Australian Super and Aberdeen Asset Management as private owners of public infrastructure assets in Western Australia. Click through to see the BNiQ listing of public assets in private hands.

SPECIAL REPORT: Perth’s major business brokers are adapting their strategies to deal with a changing buyer profile and a general softening of prices.

The federal government has promised an "arms-length" decision on Gina Rinehart and Shanghai CRED’s joint $365 million bid for cattle empire S. Kidman & Co, which will still require foreign investment approval.

Troubled iron ore miner BC Iron has sold its majority stake in the Nullagine joint venture to Fortescue Metals Group for just $1, along with some royalty payments.

Spanish-controlled construction giant CIMIC Group has launched a $524 million takeover bid for its ASX-listed rival UGL.

South Australian mining junior Flinders Mines has announced a capital raising of $5 million, with the company to put the cash towards a loan repayment and tenement expenditure commitments at its Pilbara iron ore project.

Subiaco-based minerals explorer Avanco Resources has signed an earn-in agreement with Canadian Jaguar Mining for the Gurupi gold project in Brazil, while Spitfire Materials has acquired 100 per cent of a gold project in Western Australia.

Perth-based Hillcrest Litigation Services is transforming into a baby food company after signing an agreement to acquire the manufacturer of Bubs Organic products.

Perth-based Trident Capital has been brought in to advise an Israeli technology company on its $6 million inital public offering and listing on the ASX.

Perth-based Lithium Australia has announced plans to raise up to $12.6 million to fund ongoing exploration work at a number of its projects.

Pilbara Minerals plans to expand its Pilgangoora lithium portfolio with the acquisition of Dakota Minerals’ Lynas Find project for up to $8 million.

Perth-based surveying and construction contractor OTOC has raised $12 million from investors to fund its future growth plans.

Independence Group has put forward a $20.5 million bid for emerging nickel play Windward Resources, competing against a previous deal put forward by Michael Fotios’s Eastern Goldfields.

Cottesloe-based Quickflix will fall under new ownership when its voluntary administrators sell the business to a US company for $1.3 million.

RCR Tomlinson managing director Paul Dalgleish is no longer a substantial shareholder in the engineering group after selling $5.2 million worth of shares.

The board of national mining equipment supplier Bradken has backed a $688 million cash takeover offer from Japan’s Hitachi Machinery Construction Co.

Perth-based biotechnology company Metavone hopes to list on the ASX next month after raising up to $5 million from investors in an initial public offering.

ASG Group’s board has recommended its shareholders approve a takeover offer from a Japan-based consulting and IT services firm, which values the business at more than double that of a previous bid three years ago.

Shares in technology company BrainChip Holdings have skyrocketed on news the company has landed a deal with an unnamed Las Vegas casino.

Perth-based gold explorer Breaker Resources has confirmed a $12.4 million capital raising to fund ongoing work at its Lake Roe project near Kalgoorlie.

Investors have reacted well to news that gold-focused companies Echo Resources and Metaliko Resources will merge in a deal worth $38.9 million.

MMJ Phytotech has announced plans to spin-out its medical cannabis-focused Canadian subsidiaries onto the TSX Venture Exchange through the reverse takeover of a resources company.

Echo Resources and Metaliko Resources are expected to announce a tie-up this week, after the two ASX-listed companies with assets in the eastern Goldfields region announced trading halts today.

Engineering business VEEM is forecasting strong growth in revenue in the current financial year but a fall in profit, the family owned company has disclosed in the prospectus for its $25 million initial public offering.

Perth-based Crusader Resources has announced a $10 million capital raising to fund ongoing work at its Juruena gold project in Brazil.

Gold miner Resolute Mining has tapped investors for $150 million to fund the restart of operations at its Ravenswood mine in Queensland.

Resource Capital Funds is set to emerge with a near 30 per cent stake in Vimy Resources when the uranium company completes a $22 million capital boost to fund ongoing work at its Mulga Rock project in the eastern Goldfields.