CORPORATE activity in the energy sector picked up a notch this week when acquisitive BG Group launched a $796 million cash offer for South Perth-based Pure Energy Resources.
The takeover battle for Pure Energy Resources has escalated with first suitor Arrow Energy trumping BG Group's $796 million offer with an $890 million cash and scrip bid.
The state opposition has urged the government to make haste with the awarding of over $9 million of grants to developers of innovative energy technologies.
Property developer Finbar Group has suffered a 51 per cent drop in its interim net profit result but has maintained its full-year forecast, expected to be in excess of last year's record $12.2 million result.
BC Iron has secured its first offtake agreement for its Nullagine project in the Pilbara, with the contract starting from 2010 over a minimum five-year period.
Belmont-based Diploma Group has secured $32 million in new contracts, with work to cover a Riverton shopping centre and a mixed use development in Northbridge.
Shares in Emeco Holdings soared after the earthmoving equipment provider foreshadowed a record interim result and full year earnings in line with expectations.
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Success in attracting students has prompted a Canadian university to call off a deal with Navitas for the establishment of McMaster University College.
The number of corporate insolvencies climbed 27 per cent in calendar 2008 with the growth rate gathering pace in the last quarter, according to new research.
The global economic slowdown has forced engineering company Sedgman to write-off $20 million of goodwill value from its Perth-based subsidiary Intermet Engineering, which it bought less than two years ago for $32 million.
Subiaco-based Global Nickel Investments will branch out into the medical sector following a proposed deal to acquire Minomic International for around $6.4 million in cash and scrip.
Golden Gate Petroleum plans to raise up to $6.32 million through a share purchase plan, with funds to go towards ongoing development work at its Bullseye oil project in the United States.
The privatisation of the state government's 300,000-member superannuation fund GESB remains stalled, with an expanding number of problems - including tax treatments - preventing the state from giving the move the green light.
Perth-headquartered Pure Energy Resources shares have surged as much as 29 per cent after BG Group launched a $796 million takeover bid for the coal seam gas explorer.
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Directors in oil and gas explorer Comet Ridge have unanimously recommended a friendly merger with unlisted public company Chartwell Energy, which has coal seam gas assets in New Zealand.
Industrial software provider ISS Group has signed a $2 million contract with an Egyptian company over its BabelFish Suite of products and associated services.
Agribusinesses in Western Australia are enjoying the flow on effects of better seasonal conditions with the best business performance results nationally, according to latest figures from the the Westpac and Charles Sturt University Agribusiness Index.
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Western Australia's native timber industry has expressed shock at the state government's blanket rejection of requests for financial assistance, predicting job losses and mill closures will result.
iiNet will lodge its defence in the Federal Court today over allegations the internet service provider authorised customers to download films in breach of copyright laws.
Global Construction services plans to raise up to $4.7 million through a placement and has launched a share purchase plan, all in a bid to increase working capital and strengthen its balance sheet.
VDM Group is expecting a better second half performance after forecasting its first half profit to fall to $3 million, prompting its shares to fall by as much as 63 per cent in trade today.
