Automotive Holdings Group Ltd (AHG):
Automotive Holdings Group has recommended shareholders take no action on the merger bid from AP Eagers, as it works to assess the “highly conditional” bid. This morning, AP Eagers lobbed an all-scrip offer to create a $2 billion merged entity, what AHG chair John Groppoli said the board would assess “in the context of the fundamental value of our business”. He highlighted the groups automotive retail business as the largest franchised network across Australia and New Zealand, and its refrigerated logistics business as a highly strategic asset. “The AHG board strongly believes in the underlying growth prospects and strengths of each of our businesses,” Mr Groppoli said. “We are undertaking a strategic review of Refrigerated Logistics and continue to explore our options in relation to this asset.” The company noted the deal was contingent on ACCC approval, an ASX market fall condition and third party consents.
Capitol Health Ltd (CAJ) & Integral Diagnostics Ltd (IDX):
Shares in imaging players Capitol Health and Integral Diagnostics have shot up on Friday on the back of Labor's planned $2.3 billion cancer program flagged in its budget reply. Opposition leader Bill Shorten on Thursday night promised, if elected, he would make the most important investment in Medicare since its creation in 1984. Mr Shorten - who said "all too often treating cancer is impoverishing" - would guarantee free or low-cost treatment for all cancer sufferers. He pitched that if Labor wins the planned May election, 6 million cancer scans over 4 years, including MRIs, will be paid for. And 3 million appointments with specialists, like oncologists, will also be covered.
Domino's Pizza Enterprises Ltd.(DMP):
Domino’s Pizza has outlined plans to go big in Japan, using the ASX announcement platform to unveil 11 new pizzas at its franchises across the country. New products include an American Classic range aimed to overturn the traditional view in Japan that pizza was expensive, and only for special occasions, Domino’s says. The new pizzas, launched this week, include American flavours such as Philly Cheese Steak in Philadelphia, BBQ chicken from New Orleans, and flavours from California’s West Coast. Here the play for Domino’s is to target the 50 per cent of office workers who buy lunch at convenience stores and supermarkets. At the same time Domino’s is set to launch new “Super Star” range which includes premium wagyu and Italian Bocconcini on the pizzas.
Downer EDI Limited (DOW), Cimic Group Ltd (CIM) & Sydney Airport Holdings Pty Ltd (SYD):
Downer EDI, CIMIC and Sydney Airport could receive a boost this year depending on who takes government in the next few months. With both the Coalition and the Labor party pledging to spend billions of dollars on new road and rail projects around Australia as well as schools and hospitals, infrastructure and transport companies will be well-positioned whichever party wins the election. Unlike several years ago, when the Coalition favoured road over rail projects, both parties are now firmly committed to funding more rail lines to take cars off roads and ease congestion, helping people move around more quickly. But there is one key difference: the Coalition wants to put money into fast regional rail links with trains running at about 160 kilometres per hour, including a tunnel through the Blue Mountains from Sydney to Parkes, and create a National Faster Rail Agency.
IOOF Holdings Limited (IFL):
IOOF's new chairman Allan Griffiths says the abrupt exit of the chairman and chief executive, both facing possible disqualification by APRA, should ease concerns of ANZ's pensions and investments business OnePath which the wealth giant is trying to buy.Both IOOF chief executive Chris Kelaher and chairman George Venardos have moved on under mututal agreement it was revealed yesterday with current board member Allan Griffiths becoming wealth giant's new chairman. IOOF drew the ire of the Hayne royal commission and the prudential regulator last year when Mr Kelaher said during a dramatic series of hearings that he was indifferent about potentially breaching superannuation laws. This resulted in the Australian Prudential Regulation Authority making a shock move in the Federal Court to try to disqualify Mr Kelaher, Mr Venardos and three other executives of IOOF as super trustees for failing to act in the best interests of super members. Mr Griffiths told The Australian Financial Review on Thursday that he was hopeful the leadership change will make it easier for IOOF's acquisition of OnePath to go ahead. "We still remain committed to the ANZ deal and we're working very hard with ANZ to try to make that happen," Mr Griffiths said.
Nine Entertainment Co Holdings Ltd (NEC):
Millions of dollars of costs are expected to be cut from Nine Entertainment Co's community and regional newspaper operation as it pushes ahead with its plans to sell the business. Documents provided to bidders as part of the sale process of Nine's Australian Community Media and printing business show a planned $8 million in cost savings will be completed in the 2019 financial year. Several sources, who declined to be named due to confidentiality conditions attached to the sale process, have said the possibility of staff redundancies are being discussed with potential buyers.
Woodside Petroleum Limited (WPL):
Woodside Petroleum has signed a heads of agreement to supply liquefied natural gas to China’s ENN Group for 10 years from 2025. The volume is for one million tonnes per annum from Woodside’s portfolio, the Australian company said in a statement. The HOA was signed at the LNG 2019 conference in Shanghai and follows a cooperation agreement in October last year. “This HOA demonstrates market support for Woodside’s proposals to expand the Pluto LNG facility and develop the Scarborough offshore gas resource as part of our vision for the Burrup Hub in Western Australia,” Woodside chief executive Peter Coleman said in the statement. Woodside added that the HOA remains conditional upon the negotiation and execution of a fully termed sales and purchase agreement, as well as obtaining all necessary approvals and a final investment decision on Scarborough.
Ziptel Ltd (ZIP):
Fintech payment business Zip has been tipped as on its path to unicorn status, with a forecast higher rate of sales than peer Afterpay, according to Shaw and Partners analyst Jonathon Higgins. He says the the stock is at an inflection point, with a network effect beginning to emerge as it shifts focus to everyday purchases and grows its merchant base. “Zip is one of the few rare companies that, as it is getting bigger, is actually nominally accelerating across customer metrics, revenues and earnings,” Mr Higgins says. “Shaw forecasts a higher rate of sales and gross profit growth for Zip than popular ASX tech businesses, including Afterpay, WiseTech, Appen and Xero to name a few. Shaw expects Zip to deliver 1.7x the sectors average gross profit growth with respect to the tech names (all organically) in FY20.” Earlier this week, Westpac exercised its top-up rights in full, taking Zip’s recent placement to a total of $43 million, what Shaw says makes the company fully funded to accelerate its product development and turbocharge its expansion.
(Source: AIMS)
Automotive Holdings Group has recommended shareholders take no action on the merger bid from AP Eagers, as it works to assess the “highly conditional” bid. This morning, AP Eagers lobbed an all-scrip offer to create a $2 billion merged entity, what AHG chair John Groppoli said the board would assess “in the context of the fundamental value of our business”. He highlighted the groups automotive retail business as the largest franchised network across Australia and New Zealand, and its refrigerated logistics business as a highly strategic asset. “The AHG board strongly believes in the underlying growth prospects and strengths of each of our businesses,” Mr Groppoli said. “We are undertaking a strategic review of Refrigerated Logistics and continue to explore our options in relation to this asset.” The company noted the deal was contingent on ACCC approval, an ASX market fall condition and third party consents.
Capitol Health Ltd (CAJ) & Integral Diagnostics Ltd (IDX):
Shares in imaging players Capitol Health and Integral Diagnostics have shot up on Friday on the back of Labor's planned $2.3 billion cancer program flagged in its budget reply. Opposition leader Bill Shorten on Thursday night promised, if elected, he would make the most important investment in Medicare since its creation in 1984. Mr Shorten - who said "all too often treating cancer is impoverishing" - would guarantee free or low-cost treatment for all cancer sufferers. He pitched that if Labor wins the planned May election, 6 million cancer scans over 4 years, including MRIs, will be paid for. And 3 million appointments with specialists, like oncologists, will also be covered.
Domino's Pizza Enterprises Ltd.(DMP):
Domino’s Pizza has outlined plans to go big in Japan, using the ASX announcement platform to unveil 11 new pizzas at its franchises across the country. New products include an American Classic range aimed to overturn the traditional view in Japan that pizza was expensive, and only for special occasions, Domino’s says. The new pizzas, launched this week, include American flavours such as Philly Cheese Steak in Philadelphia, BBQ chicken from New Orleans, and flavours from California’s West Coast. Here the play for Domino’s is to target the 50 per cent of office workers who buy lunch at convenience stores and supermarkets. At the same time Domino’s is set to launch new “Super Star” range which includes premium wagyu and Italian Bocconcini on the pizzas.
Downer EDI Limited (DOW), Cimic Group Ltd (CIM) & Sydney Airport Holdings Pty Ltd (SYD):
Downer EDI, CIMIC and Sydney Airport could receive a boost this year depending on who takes government in the next few months. With both the Coalition and the Labor party pledging to spend billions of dollars on new road and rail projects around Australia as well as schools and hospitals, infrastructure and transport companies will be well-positioned whichever party wins the election. Unlike several years ago, when the Coalition favoured road over rail projects, both parties are now firmly committed to funding more rail lines to take cars off roads and ease congestion, helping people move around more quickly. But there is one key difference: the Coalition wants to put money into fast regional rail links with trains running at about 160 kilometres per hour, including a tunnel through the Blue Mountains from Sydney to Parkes, and create a National Faster Rail Agency.
IOOF Holdings Limited (IFL):
IOOF's new chairman Allan Griffiths says the abrupt exit of the chairman and chief executive, both facing possible disqualification by APRA, should ease concerns of ANZ's pensions and investments business OnePath which the wealth giant is trying to buy.Both IOOF chief executive Chris Kelaher and chairman George Venardos have moved on under mututal agreement it was revealed yesterday with current board member Allan Griffiths becoming wealth giant's new chairman. IOOF drew the ire of the Hayne royal commission and the prudential regulator last year when Mr Kelaher said during a dramatic series of hearings that he was indifferent about potentially breaching superannuation laws. This resulted in the Australian Prudential Regulation Authority making a shock move in the Federal Court to try to disqualify Mr Kelaher, Mr Venardos and three other executives of IOOF as super trustees for failing to act in the best interests of super members. Mr Griffiths told The Australian Financial Review on Thursday that he was hopeful the leadership change will make it easier for IOOF's acquisition of OnePath to go ahead. "We still remain committed to the ANZ deal and we're working very hard with ANZ to try to make that happen," Mr Griffiths said.
Nine Entertainment Co Holdings Ltd (NEC):
Millions of dollars of costs are expected to be cut from Nine Entertainment Co's community and regional newspaper operation as it pushes ahead with its plans to sell the business. Documents provided to bidders as part of the sale process of Nine's Australian Community Media and printing business show a planned $8 million in cost savings will be completed in the 2019 financial year. Several sources, who declined to be named due to confidentiality conditions attached to the sale process, have said the possibility of staff redundancies are being discussed with potential buyers.
Woodside Petroleum Limited (WPL):
Woodside Petroleum has signed a heads of agreement to supply liquefied natural gas to China’s ENN Group for 10 years from 2025. The volume is for one million tonnes per annum from Woodside’s portfolio, the Australian company said in a statement. The HOA was signed at the LNG 2019 conference in Shanghai and follows a cooperation agreement in October last year. “This HOA demonstrates market support for Woodside’s proposals to expand the Pluto LNG facility and develop the Scarborough offshore gas resource as part of our vision for the Burrup Hub in Western Australia,” Woodside chief executive Peter Coleman said in the statement. Woodside added that the HOA remains conditional upon the negotiation and execution of a fully termed sales and purchase agreement, as well as obtaining all necessary approvals and a final investment decision on Scarborough.
Ziptel Ltd (ZIP):
Fintech payment business Zip has been tipped as on its path to unicorn status, with a forecast higher rate of sales than peer Afterpay, according to Shaw and Partners analyst Jonathon Higgins. He says the the stock is at an inflection point, with a network effect beginning to emerge as it shifts focus to everyday purchases and grows its merchant base. “Zip is one of the few rare companies that, as it is getting bigger, is actually nominally accelerating across customer metrics, revenues and earnings,” Mr Higgins says. “Shaw forecasts a higher rate of sales and gross profit growth for Zip than popular ASX tech businesses, including Afterpay, WiseTech, Appen and Xero to name a few. Shaw expects Zip to deliver 1.7x the sectors average gross profit growth with respect to the tech names (all organically) in FY20.” Earlier this week, Westpac exercised its top-up rights in full, taking Zip’s recent placement to a total of $43 million, what Shaw says makes the company fully funded to accelerate its product development and turbocharge its expansion.
(Source: AIMS)
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