Daily Brief Australia: RPMGlobal Holdings Limited, BHP Group Ltd, Webjet Group, Guzman Y Gomez, Island Pharmaceuticals and more

• Back on the 13th October, RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, entered into a Scheme with Caterpillar Inc (CAT US).
• Caterpillar offered A$5/share (the same as in the previously announced NBIO), a 32.8% premium to undisturbed. FIRB and ACCC approvals are conditions. FIRB won’t be an issue. 
• The Scheme Booklet is now out, with a Scheme Meeting on the 19th December, and expected implementation on the 18th Feb 2026. The IE (Grant Thornton) says “fair & reasonable“. 

• Context: The BHP Group (BHP AU) vs. Rio Tinto (RIO AU) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
• Highlights: Going long BHP Group (BHP AU) and short Rio Tinto (RIO AU) targets a 4% return.
• Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.

• In Webjet (WJL AU): Undisclosed Buyer Buying,  rumours surfaced earlier this year of an undisclosed buyer with ~5%. On the 12th May, Helloworld (HLO AU) emerged with a 5.015% stake.
• On the same day, Gary Weiss/BGH, collectively holding 10.76%, launched a A$0.80/share NBIO, which was subsequently rejected. Undeterred, Weiss/BGH has called for an EGM (21st November) to spill the board.
• Helloworld has now tabled a A$0.90/share non-binding Offer, by way of Scheme. The 1H26 dividend of A$0.002/share will be added. Helloworld currently holds 17.27%. Weiss/BGH hold 17.75%.

• Guzman Y Gomez is a high-growth, Mexican-themed Quick Service Restaurant (QSR) chain with a rapidly expanding store network, primarily in Australia, and ambitious long-term growth targets.
• The company has demonstrated strong financial performance, with significant revenue growth and a recent shift to profitability, driven by new store openings and robust comparable sales growth.
• Valuation appears stretched compared to peers, and key risks include intense competition, execution on aggressive expansion plans (particularly in the US), and a potential share overhang from the expiry of IPO lockups.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• RPMGlobal is the subject of a binding acquisition proposal from Caterpillar at A$5.00 per share, representing a significant premium and a strategic move by Caterpillar to enhance its mining technology ecosystem.
• The company has successfully transitioned its business model to focus on high-margin, enterprise software solutions, divesting its advisory division to streamline operations and improve revenue predictability.
• While the acquisition offers an attractive valuation, the deal is subject to regulatory and shareholder approvals, with a high retail shareholder base posing a potential risk to the shareholder vote headcount test.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

• Island Pharmaceuticals Ltd (ASX:ILA) is an antiviral therapeutics company targeting infectious diseases.
• The company on 17 November 2025 released a presentation in which it detailed the much-anticipated feedback from the Food and Drug Administration (FDA) on its Galidesivir programme for Marburg.
• The feedback was very positive for ILA in that two outstanding matters were resolved: 1.