Frydenberg defends rejecting investment deals from ‘a different China’
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Treasurer Josh Frydenberg is rejecting Chinese investment deals he would have approved in previous years because Australia is dealing with “a different China” under President Xi Jinping.
Mr Frydenberg said his approach to foreign investment had changed to reflect the federal government’s stronger stand on the national interest, in the wake of China’s more assertive position on foreign policy.
Treasurer Josh Frydenberg
Credit:Alex Ellinghausen
He made the comments after a Chinese foreign ministry spokesman warned of damage to Australia because it was a “cat’s paw” for another country, making it clear restrictions on trade were linked to Chinese foreign policy objectives.
Jul 06 2021
As Sydneysiders brace for another week of lockdowns a bidder has emerged for Sydney Airport, surprising the market and sparking speculation aplenty
-Highly conditional cash offer of $8.25 a share considered reasonable by brokers
-Timing of an earnings recovery for Sydney Airport remains highly uncertain
-Competing bids cannot be ruled out, given appeal of long-duration infrastructure assets
By Eva Brocklehurst
A bidder has rattled the cage of Sydney Airport ((SYD)), disturbing the solitude imposed by the pandemic, although it is unlikely to bring on a rush of international passengers.
Ord Minnett suspects the offer caught management off guard but at first glance it appears to be fair. Sydney Airport is an irreplaceable infrastructure asset and the broker points out
Sydney Airport caught up in global M&A boom afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
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Rhipe confirms Crayon buyout bid
Crayon offers A$2.50 per share, equating to roughly A$402.69 million.
Dominic O Hanlon (Rhipe) Credit: Rhipe
Publicly listed cloud software distributor Rhipe has confirmed it has received an indicative, non-binding takeover offer from Norwegian headquartered IT consultancy Crayon, offering A$2.50 per share, valuing the deal at roughly A$402.69 million.
“There is no certainty that Crayon will submit a binding proposal. However, Rhipe and Crayon are continuing to work together collaboratively to facilitate a satisfactory outcome, Rhipe told shareholders on 1 July.
Global IT consultancy Crayon has offered to acquire Australian distributor Rhipe for $2.50 per share or $402.7 million.
The company sent an indicative, non-binding takeover offer, which does not guarantee Crayon will eventually offer a binding proposal, but Rhipe said it is working with Crayon to get to a satisfactory outcome.
Headquartered in Norway, Crayon specialises in delivering software asset management, cloud/volume licensing and consulting services. Its services focus on cloud adoption, governance and lifecycle management framework, data and AI adoption.
Crayon’s proposal said that any final, binding offer would be subject to the following conditions:
the satisfactory completion of confirmatory due diligence and negotiation of a Scheme Implementation Deed