Deals

A new supply deal struck this week by Western Australia’s largest buyer of domestic gas, Alcoa of Australia, has confirmed the availability of gas for customers prepared to pay the going price.

Oil and gas company Zeta Petroleum has launched a proposal to acquire full ownership of Sydney-based Pan Pacific Petroleum by buying all the shares it doesn’t already own in the company, in a deal worth $29.4 million.

Window blinds manufacturer and retailer Kresta Holdings has backed out of its proposed $10 million acquisition of Queensland-based Franklyn Blinds Awnings Security.

Pioneer Credit has taken a 14.1 per cent stake in Kalgoorlie-based financial institution Goldfields Money for $2.3 million as the two companies make plans for a joint working relationship.

Perth-based gold miner Minera Gold has raised $US1.55 million ($A2 million) from existing shareholders and a new investor, while also announcing a number of board changes that includes the retirement of both its chairman and chief executive.

Metals X has issued a stern warning to Tanami Gold claiming it would be financially unwise to accept Northern Star Resources' bid for the Central Tanami gold project over its own proposal.

Macquarie Capital and Brookfield Asset Management have agreed to buy Apache Corporation's Australian oil and gas operations for $US2.1 billion ($A2.7 billion), with the deal underpinned by a long-term gas sale agreement with Alcoa.

The federal government has approved the $1.15 billion sale of construction giant John Holland to Chinese interests.

Shares in gold explorer Rubianna Resources skyrocketed on news it plans to exit the resources industry by acquiring a young cloud-based retail finance business.

The takeover negotiations facing mining equipment supplier Emeco Holdings got more complex today after it received a merger proposal from Queensland-based competitor Orionstone, which has also pushed for Emeco to scrap its planned purchase of truck rental company Rentco.

Select Exploration has brought in a new broking firm to support a $5 million capital raising, ahead of its planned reverse takeover of rent.com.au, after Bailleau Holst backed out of its appointment as joint lead manager.

Osborne Park-based contractor Otoc is continuing its east coast expansion plans with a proposal to buy a Queensland surveying and planning firm for a cash and share package worth up to $4.4 million.

The growing number of backdoor listings in WA has highlighted the best, and worst, of the capital markets.

The March quarter was a quiet period for M&A transactions in WA, although the deals that were announced attracted their fair share of controversy. Click through to see details on 78 WA deals worth $2.4 billion.

Woodside Petroleum has completed the purchase of Apache Corporation’s interests in the Wheatstone and Balnaves projects, as speculation continues over the ownership of Apache’s remaining Australian assets.

Mining equipment supplier Bradken has rejected a takeover offer from private equity group Pacific Equity Partners and US-based Koch Industries, which valued the company at $427 million.

An independent expert says Japan Post's proposed $6.5 billion takeover of transport and logistics group Toll Group is fair and reasonable.

Investors have welcomed news that Claremont-based Segue Resources has signed a joint venture agreement with Port Exploration at its Pardoo nickel and iron project in the Pilbara.

James Packer has finally managed to offload his family's stake in Australia's biggest ski resort, with Perisher set to fall into American hands.

Automotive Holdings Group has splashed $5 million on an acquisition of the Paceway Mitsubishi dealership in Osborne Park and another dealership in Brisbane.

Accounting software giant MYOB is preparing to raise more than $800 million by returning to the stock market after a six-year absence.

New Standard Energy has secured $US3 million ($A3.9 million) from its existing debt facility with Credit Suisse to provide working capital while it continues transaction discussions with unnamed parties.

Emeco Holdings has postponed the $75 million purchase of truck rental business Rentco, as it seeks to address criticism of the deal from some of its biggest shareholders.

Shares in thermal energy company Enerji surged on news it will be collaborating with Perth-based technology firm Panorama Synergy to develop a hydrocarbon monitoring system.

Perth technology entrepreneur Nathan Buzza has added to his investment in health informatics company Alcidion Corporation, which has raised $1.5 million to fund the expansion of its Miya platform.

Slater and Gordon has struck a $1.2 billion deal to make it the UK's top personal injury lawyer.

Shares in gold and copper miner PanAust have rocketed after a heavily reduced takeover bid by Chinese company Guangdong Rising Assets Management.

US energy giant Chevron is narrowing its Australian focus onto its Gorgon and Wheatstone gas projects, by selling its $5 billion stake in Caltex Australia and exiting an onshore gas project wh

Evolution Mining has confirmed media reports that it is in discussions on the potential puchase of La Mancha Resources' gold mine in Kalgoorlie, for a price understood to be around $400 million.

Shares in Ruwan Weerasooriya’s Rewardle Holdings closed on a low today following news it was seeking to raise $5 million in a discounted placement.

Greater scrutiny by corporate regulators of backdoor listings on the ASX is not slowing the flow of new transactions, with six Western Australian companies announcing transformational deals in the past fortnight.

Shares in Perth-based Kibaran Resources surged on news it had received an offer from an unnamed institution to co-finance the company’s Epanko graphite project in Africa, with a loan of up to $28 million.