Edward Johnson

Vodafone Hutchison to combine Australia biz with TPG Telecom to create $8b entity

The new entity will have the scale and financial strength to compete more effectively with Telstra and Optus.

Out of his father’s shadow, Victor Li mounts $9.8b bid for Australia’s APA

The offer comes just a month after billionaire Li Ka-shing formally stepped down as head of the business empire, handing the reins to his eldest son Victor.

Australian Wesfarmers’ UK retail chain acquisition falls below expectations

Wesfarmers expects the U.K. unit to post a 97 million pound first-half underlying loss when it reports later this month.

Australia’s Boral buys US firm Headwaters for $1.8b

Australia’s Boral Ltd. agreed to buy U.S. building materials company Headwaters Inc. for $1.8 billion in cash as it seeks to benefit from increased infrastructure spending promised by President-elect Donald Trump. Boral will pay $24.25 per share, according to a statement Monday — 21 percent more than Headwater’s closing price… Read more »

Billionaire Rinehart, Shanghai CRED strike deal to buy iconic Australia ranch

Under the agreement announced Sunday, Kidman would be purchased by a venture called Australian Outback Beef Pty., 67 percent owned by Hancock and 33 percent by Shanghai CRED. The privately-held Chinese firm was part of the April bidding group that was blocked.

Telstra completes $1.6b sale of Autohome stake to Ping An

Australia’s Telstra Corp. completed the sale of a 47 percent stake in Chinese website Autohome Inc. to Ping An Insurance Group Co. for $1.6 billion, though it continues to face litigation over the deal. The Melbourne-based phone company will book an accounting gain of A$1.8 billion ($1.4 billion) on the… Read more »

Brookfield, Qube might join hands to buy Asciano

The two groups, which have been dueling over Melbourne-based Asciano for months, are discussing a joint cash offer of A$9.28 per share, according to a statement from the target to the ASX on Tuesday. That’s 4.6 percent higher than the target’s closing price on Monday.