Investors have welcomed news this morning that Programmed Maintenance Services will be purchased by a Japanese staffing company for about $780 million in cash.
Navitas managing director Rod Jones has described the company's latest profit report as a good, solid set of results, despite being adversely affected by the closure of two colleges.
Programmed Maintenance Services has returned an annual net loss as a result of lower demand for marine services following the steep drop in oil and gas prices.
Former Skilled Group boss Angus McKay has been named chief executive of convenience store chain 7-Eleven, replacing Warren Wilmot who resigned from the role last September after revelations of franchise staff being underpaid.
Former Skilled Group executive David Timmel has been appointed to the top job at Perth Markets, the newly formed company that has acquired the Perth Market Authority's Market City.
Programmed Maintenance Services has flagged a $75 million impairment resulting from poor performance in its marine services division, but expects to lift earnings to over $100 million by FY17 as it benefits from growth in other sectors of the economy.
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Programmed Maintenance Services is among five companies to be added to the S&P/ASX200 in changes to the market indices set to occur after market close on December 18.
Perth-based Programmed Maintenance Services has flagged a $28 million impairment in its first-half result, on the back of a depressed marine services market.
Programmed Maintenance Services' $424 million takeover of its larger competitor Skilled Group is a step closer to fruition, after Skilled shareholders voted in favour of the scheme of arrangement today.
Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.
Programmed Maintenance Services' six-month pursuit of its larger competitor, Skilled Group, has paid off, with the Melbourne-based company backing a $424 million takeover offer.
Perth-based Programmed Maintenance Services is set to strike a long-awaited takeover deal with labour hire company Skilled Group, with both companies entering into trading halts this morning ahead of a formal announcement.
Programmed Maintenance Services managing director Christopher Sutherland says it's too early to speculate on what price will be put on its proposed merger with Skilled Group, after announcing a 16 per cent slide in net profit to $25.7 million.
Unions claim to have played a major role in ensuring an increase in the number of Western Australia-based workers building a 900-kilometre pipeline for Ichthys liquefied natural gas project off Darwin.
A consortium which includes Perth-based Programmed Maintenance Services has been appointed the preferred bidder for a public private partnership for four new schools in New Zealand.
Australia's biggest workforce provider, Skilled Group, has rejected a takeover offer from rival Programmed Maintenance Services, saying it undervalues the company.
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.
Skilled Group says it will buy-out its partner in the Offshore Marine Services Alliance joint venture for $6.9 million, and plans to merge it with its Broadsword Marine operations to create a single marine services business.
Prominent Perth company director Tracey Horton is among a group of business leaders appointed to a new federal Treasury advisory council designed to replicate the discipline provided by a private sector governance board.
South Korean contractor Samsung C&T has announced it will take over the work previously contracted out to failed construction company Forge Group at Roy Hill.
Just two weeks after joining the board of mining contractor Macmahon Holdings, former WesTrac managing director and CEO Jim Walker has been appointed as a director of nationwide recruitment firm SK
