In today’s briefing:
- Steadfast (SDF AU): Suitors Circle As Share Price Languishes After Internal Complaint
- Australia Single Stock Options (Dec 01 – 05): Narrow Range and Mixed Implieds
Steadfast (SDF AU): Suitors Circle As Share Price Languishes After Internal Complaint
- First, EQT, then CVC joined, in a A$45/share NBIO for AUB (AUB AU), an insurance “matchmaker”: CVC Joins EQT In Pursuit Of AUB Group (AUB AU). Talks ceased this week.
- Reportedly, AUB’s larger insurance rival, Steadfast (SDF AU), is now attracting PE interest, such as Blackstone.
- Steadfast is down ~25% from its recent high following a workplace complaint towards CEO/MD/founder Robert Kelly – now concluded on “a confidential basis”, with Kelly resuming his roles.
Australia Single Stock Options (Dec 01 – 05): Narrow Range and Mixed Implieds
- Very quiet trading this week with a weekly closing range near the lows for the year.
- Breadth deteriorated from last week’s elevated readings as the market tries to push higher.
- Quiet earnings calendar with only six companies issuing earnings reports in the coming week.
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