Deals

Independence Group is planning to take advantage of nickel miner Panoramic Resources’ operational issues and boardroom changes by launching a hostile scrip takeover bid.

Silver Lake Resources has substantially improved the terms of its scrip takeover bid for EganStreet Resources, which disclosed today it had been approached by Adaman Resources with a competing cash offer.

A new sponsorship deal between Canon Foods and Perth Scorchers women’s cricket team ticked a number of boxes for Canon principal Arthur Abrahams.

Oil and gas explorer Strike Energy announced today it has raised $30 million through a share placement and is seeking an additional $5 million through a share purchase plan, primarily to fund the company’s exploration and appraisal programs in the Perth Basin.

A recycling and waste management business led by Bob McKinnon and Tom Rudas has kicked off plans for a stock market listing, with the company hoping to “supercharge” its growth and turn recent loss

Biotech company Phylogica has announced plans to raise $26.8 million through a rights issue, fully underwritten by chairman and major shareholder Alan Tribe, with the proceeds used primarily to fund preclinicial studies for its leading drug molecule.

Nickel-explorer St George Mining has completed an institutional-led placement to raise $5.8 in funding for its flagship project at Mt Alexander, in the north-eastern Goldfields of Western Australia.

Bibra Lake-based Aurora Labs has announced plans to raise $4 million through a placement, primarily to accelerate the commercialisation of its 3D printers.

Azumah Resources’ firm rejection of Ibaera Capital’s initial takeover offer has paid dividends, with the private equity group agreeing to increase its offer for the West Perth-based miner.

ASX-listed Rural Funds Group has made its first investment in Western Australia, striking a $22 million deal to purchase three cattle stations that will be leased to Wagyu beef producer Stone Axe Pastoral Company.

Junior gold explorer Carawine Resources has announced a $6 million farm-in and joint venture agreement with Rio Tinto to explore its tenements in the Paterson province in the Pilbara.

Matrix Composites & Engineering announced it has signed a contract with Australasian Property Investments for the sale and leaseback of its Henderson facility.

Subiaco-based Tao Commodities has added to the growing interest among junior mining companies in the Western Australian iron ore sector, after it signed a binding term sheet to buy DSO Mining in a scrip deal worth at least $3.27 million.

Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.

Printing and IT services provider CSG is set to be acquired by Japanese firm Fuji Xerox in a deal worth $140.8 million.

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Geopacific Resources has completed a $40 million share placement, and aims to raise a further $5 million via a share purchase plan to fund its $198.5 million Woodlark gold project in Papua New Guinea.

Seven West Media has struck a deal to sell its magazine assets, which include Marie Claire, Men's Health and New Idea, to Bauer Media for $40 million in cash.

Seven West Media has announced an agreement to acquire regional TV broadcaster Prime Media, while the Kerry Stokes-chaired company will also divest its radio assets in Western Australia to Southern Cross Austereo.

Perth-founded online design platform Canva has raised $US85 million ($125 million), which it said had boosted its value to $US3.2 billion.

AusQuest is set to raise $2.4 million to advance exploration projects in Western Australia and Peru, while Sagon Resources tapped the market for $1.25 million.

Northern Star Resources has surpassed a 50 per cent stake in takeover target Echo Resources, and has moved swiftly to change the board of the gold junior.

Perth-based Diamond Cyber Security and Asterisk Information Security will be two of at least 12 Australian cyber security firms bought out by BGH Capital and merged into a new entity to compete with the larger US-based vendors.

IMF Bentham has struck an agreement to acquire Omni Bridgeway for up to €87.5 million ($A141 million), which will be a tie-up of two of the biggest players in the litigation funding industry.

A summary of last week's smaller deals that did not get included in our daily news coverage.

Perth-based Merchant Group is now the largest shareholder of medical cannabis company AusCann Group Holdings, after it acquired an 11.43 per cent stake worth around $11.6 million.

Gold and copper hopeful Stavely Minerals has tapped investors for $19.6 million via a share placement, as it seeks to take advantage of its surging share price to advance its exploration projects.

Santos has struck a deal to pay up to $US1.44 billion ($A2.12 billion) for ConocoPhillips' interests in northern Australia, including its majority stake in the Darwin LNG plant and its interest in three major gas fields off the coast of Western Australia and the Northern Territory.

Perth-based BDO partner Todd Grover has had a key role in navigating the sale of Sydney-based Comsec TR to a European prison media and communications provider.

Smart Marine Systems has acquired fellow WA-based ocean technology business Advanced Offshore Streaming in a deal potentially worth over $5.5 million.

Orora shareholders are in line to pocket $1.2 billion after the company decided to offload its cardboard packaging unit to Japan's Nippon Paper for $1.7 billion.

Perth-based Zelda Therapeutics has struck an agreement to merge with Ilera Therapeutics that could potentially be worth more than $65 million, as it seeks to grow in the heavily regulated global medical cannabis market.