Expertise Archives:

M&A trends in resources and renewables

The Australian M&A market resurged in 2021 with record-breaking deal activity as investors turned their backs on pandemic-induced economic uncertainty. With significant amounts of deployable capital preserved as a result of cost-saving initiatives during the height of COVID-19, this trend continued strongly through the first half of 2022, but trailed off in Q3 as a …

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Post-IPO lock-up: Protecting Australian investors at the risk of global competitiveness

The Australian Stock Exchange (ASX) has made welcome changes to its rules around post-IPO lock-ups. But do they go far enough? While a strong regime benefits new investors and market integrity, is the position globally competitive? Do we risk losing IPOs to other jurisdictions? If Australia’s regime is not globally competitive, we risk losing Australian …

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Key changes to the Queensland Resources Sector – MEROLA heightens requirements for resource authority holders

On 20 May 2020, the Mineral and Energy Resources and Other Legislation Amendment Act 2020 (Qld) (the MEROLA) passed in Queensland Parliament.  The changes introduced by the MEROLA have staggered start dates, with the first provisions already in effect from 1 July 2020. This article explores some of the most significant changes included in the …

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Managing M&A valuation issues in the era of COVID-19

The COVID-19 pandemic has had a profound impact on businesses, both immediate and in terms of their long-term outlook. Whilst hospitality, retail and travel businesses have suffered obvious and acute impacts, there are hidden complexities in the valuation of longer-term assets in the infrastructure, property and agribusiness sectors. Tech-focused company valuations have risen sharply, as …

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Smoke Alarms Holding Limited – Takeovers Panel sounds alarm on disclosure

Following a recent review, the Takeovers Panel (Panel) has affirmed its decision in Smoke Alarms Holdings Limited [2020] ATP 2 (which can be read here), and maintained its firm stance on the disclosure requirements in relation to a section 611 item 7 (Item 7) meeting. Background The takeover provisions in Chapter 6 Corporations Act 2001 (Cth) (Act) apply to companies …

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