Daily Brief Australia: AUB Group Limited, WRKR, Qube Holdings and more

In today’s briefing:

Merger Arb Mondays (01 Dec) – AUB, Qube, NSR, Dongfeng, ENN, Jinke, ANE, Canon Electronics, Low Keng
WRKR Ltd – Solid Q1 FY26 with investment to ramp up
(Mostly) Asia M&A, Nov 2025 Wrap: Qube, Forum Engineering, National Storage REIT, Star Micronics

Merger Arb Mondays (01 Dec) – AUB, Qube, NSR, Dongfeng, ENN, Jinke, ANE, Canon Electronics, Low Keng

Wrkr Ltd (ASX:WRK) offers compliance solutions for Australian superannuation contributions and payroll including member onboarding, super payments, messaging and employee validation.
WRK has delivered a record cash receipts quarter ($4.0m), +74% on the previous corresponding period (pcp) and +30% on Q4 FY25, aided by milestone payments and some overdue receipts from Q4 FY25 ($0.4m).
Total costs increased 24% on Q4 FY25 as WRK prepares for client onboarding and continues product development.

For November 2025, eight new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$10bn.
The average premium for the new transactions announced (or first discussed) in November was ~31%, with a year-to-date average of ~48%.
The average premiums for transactions in 2024 (129 transactions), 2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.

💡 Before it’s here, it’s on Smartkarma

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