Deals

Leaders of three top performing businesses in vastly different sectors say growing organically has been key to successfully expanding their businesses, rather than mergers and acquisitions, which come at a higher cost and with more risk.

Western Australia's prized AAA credit rating was cut today, with ratings agency Standard & Poor's criticising the Barnett government's "limited political will" to improve its budget.

Bega Cheese has made a $319 million play for fellow dairy producer Warrnambool Cheese and Butter that could create one of Australia's largest listed food companies.

Australia's largest beef cattle producer plans to raise almost $300 million through the sale of new shares.

Westfield Group looks set to offload its stake in two major shopping centres in suburban Perth just days after it was given the green light to increase ownership of the Karrinyup centre.

Quickflix is seeking to raise $5.5 million to increase the content of its online video streaming service and secure more users.

Engineering consulting firm Sinclair Knight Merz has been bought out by global giant Jacobs Engineering in a deal worth around $1.3 billion.

Amcom Telecommunications has snapped up data centre operator aCure Technology for $14.3 million as demand for new information technology services grows.

Minerals explorer Metals X has acquired Rio Tinto's interest in the Mt Davies joint venture in South Australia, which it hopes will add value to its Wingellina nickel project.

Mines Minister Bill Marmion says Toro Energy’s acquisition of a uranium project in close proximity to its proposed yellowcake mine at Wiluna is a significant step forward for the sector.

Paladin Energy has completed a heavily discounted capital raising after scrapping the sale of a stake in its flagship African uranium mine after it failed to attract a high enough bid.

Law firm Slater & Gordon has acquired Perth-based law firm Gibson & Gibson, growing the national firm's Western Australian operations by a third.

South African engineering and construction group Murray & Roberts has made a $430 million offer to win full control of Perth-based Clough, in which it already holds more than 60 per cent of the

Rio Tinto has agreed to sell its majority stake in a New South Wales copper and gold mine to a Chinese firm.

A Perth supplier of industrial water systems backed by local executives Peter Hood, Andy Byk, Gary Steinepreis and Tom Henderson, has continued its rapid growth with an acquisition in Queensland.

Perth mid-tier accounting firm RSM Bird Cameron has increased its focus on the Queensland market by merging with MHM Accountants in Brisbane. The deal which will see 30 staff from MHM join RSM Bird Cameron is the most recent of several acquisitions after RSM acquired businesses in Port Lincoln, South Australia and Ballarat, Victoria.

Australia's biggest owner of natural gas pipelines APA Group has approached leading natural gas distributor Envestra Limited about a merger proposal.

Virgin Australia has completed the purchase of a 60 per cent stake in Tigerair Australia.

Forge Resources has picked up $8.5 million by selling a part of its stake in the Balla Balla magnetite iron ore project in the Pilbara to its joint venture partner, New Zealand’s Todd Corporation.

Charter Hall has bought a shopping centre in Perth’s southern suburbs for $33.2 million.

Paladin Energy shares fell by more than 10 per cent after it delayed until August a deal to sell a stake in an African uranium mine.

A UK-based business has swooped on Cool Clear Water Group, buying the Perth-based water purification and dispensing system distributor for $60 million.

Fast-growing Geraldton business Bhagwan Marine has expanded its service offering and geographical presence through the acquisition of a Northern Territory marine services business.

A further $9 million has been wiped from the market value of Elders after it rejected an offer to buy its rural services business.

Employment services firm Skilled Group will pay $75.5 million for a Darwin-based marine contractor focused on the oil and gas sector.

Three directors of takeover target Firestone Energy have resigned, leading to the withdrawal of a shareholder meeting requisition by bidder Waterberg Coal Company.

Debt-laden Elders has received at least one formal bid for its main rural services business and is working on securing a sale, following eight months of negotiations.

Rio Tinto has agreed to sell its Eagle project in the US to Lundin Mining Corporation for an estimated $US35 million ($A37 million) in cash.

The capital strike hitting the resources sector risks doing long-term damage to the industry’s growth prospects.

Share market operator ASX is raising $553 million to fund growth by issuing new shares to existing shareholders.

Wesfarmers chief executive Richard Goyder is hopeful the conglomerate will seek out new acquisitions offshore in the years ahead.

Peet chairman Tony Lennon has lifted his interest in the land development company to 21.4 per cent after participating in a special placement tied to its takeover of east coast property company CIC