ASX-listed accounting platform Xero has more than doubled its net loss on the previous year to the chagrin of investors who wiped more than $1 billion from the company’s valuation following the announcement and news that CEO Steve Vamos is stepping down after nearly five years at the helm. The New Zealand tech company’s half… Read more »
Shares in ASX-listed Elmo Software (ASX: ELO) soared on Wednesday after the company confirmed it was in potential takeover talks. After stories emerged in the financial press that Accel-KKR was once again back in discussions with the HR, payroll and expense management, the company issued a “Response to Media Speculation” statement to the ASX mid-morning… Read more »
The Australian Securities and Investment Commission has launched Federal Court legal action against ASX-listed tech company Nuix and its board for alleged breaches of disclosure laws, as well as misleading or deceptive conduct around growth predictions, in the wake of the company’s IPO in December 2020. ASIC alleges that Nuix (ASX:NXL) made misleading or deceptive… Read more »
Atlassian billionaire Scott Farquhar and his venture capitalist wife Kim Jackson look set to win control of ASX-listed Genex Power after upping its takeover bid for the renewable energy company. The Genex (ASX: GNX) board rejected a $0.23 cents per share offer made in late July on August 1, but left the door open for… Read more »
Mapping software company has seen its shares pop by a third on Monday after revealing that it had been in takeover talks with US private equity company Thoma Bravo. The takeover price of $2.10 cash per share values the business at around $1.055 billion and is an 83% premium to Nearmap’s closing price of $1.15… Read more »
Nine years after it listed on the ASX as one of the 2013’s biggest floats, the board of comparison website iSelect has agreed to sell the business to rival Innovation Holdings Australia (IHA), owner of Compare the Market, in a deal that values the business at $72 million. Startup investor Thorney Investment Group, which has… Read more »
Two months after Mike Cannon-Brookes made an audacious but ultimately doomed takeover bid for AGL, his Atlassian co-founder and co-billionaire Scott Farquhar is making his own energy play with a $320 million tilt at ASX-listed Genex Power Limited (ASX: GNX). Genex shares jumped as much as 50% on the news on Monday before closing 45%… Read more »
Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »
Tech billionaire Mike Cannon-Brookes has spend $650 million via his family investment firm, Grok Ventures, for his stake in AGL, including $600 million in cash and $50 million in debt. The Atlassian co-founder and co-CEO is waging a public campaign to stop a demerger plan for Australia’s biggest energy company. While the initial stake was… Read more »
ASX-listed gig economy marketplace Airtasker is acquiring services platform Oneflare for $9.8 million. The company (ASX:ART) will help pay for the acquisition by raising $6.25 million via an underwritten placement of approximately 14.5 million new fully paid ordinary shares at $0.43 cents. Airtasker shares have been placed in a trading halt at $0.51 cents. Oneflare… Read more »
Atlassian co-founder Mike Cannon-Brookes has wasted no time in becoming an activist shareholder after taking an 11.3% stake in energy giant AGL. The billionaire launched a campaign with the slogan “Keep it together” to oppose AGL’s plans for a demerger, creating two separate ASX-listed companies, just hours after news emerged that he’d become AGL’s largest… Read more »
Billionaire Mike Cannon-Brookes has picked up his pen once again, looking to take a minority stake in ASX-listed AGL Energy through his family investment firm Grok Ventures. In an announcement via JP Morgan’s equities desk after the market closed on Monday, the broker said Grok Ventures and its affiliates are looking to acquire a combined… Read more »
Buy now, pay later market leader Afterpay posted a staggering $345.5 million loss after tax for the six months to end 2021, a 336% increase on the $79.2 million loss the fintech posted in the corresponding period in 2020. The figures are the first published by the BNPL since Jack Dorsey’s US payments platform Square… Read more »
Digital broker Stake is joining competitors such as Superhero and the Commonwealth Bank to offer cryptocurrency investing on its platform. The move to embrace crypto follows research commissioned by the platform last year that revealed crypto was second only to stocks in the portfolio for Australian investors under 40. Last November, CBA announced plans to… Read more »
AGL has rejected a revised takeover bid from Mike Cannon-Brookes and Brookfield The $8.25 a share bid was a 10% increase on their first bid two weeks ago and worth $5.5 billion Cannon-Brookes said their consortium won’t make a further bid AGL is planning a demerger that it says will offer better value Atlassian billionaire… Read more »
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