As it stands two unnamed firms have been given access to Roc’s accounts in order to assess whether they will put a final bid through to the target’s board. The Australian Financial Review reported that the latest bidder is a private equity firm, while the former is believed to be an Asian-based firm.
Given the potential for shareholder backlash, it’s no surprise that rumours in The Australian Financial Review suggest the airline is now strongly considering a demerger of the business, which would allow shareholders to retain a stake in both the airline and the loyalty division.
In retail, the sale of women’s sportswear maker Lorna Jane has drawn first-round bids from Foot Locker and private equity firms Advent International and Bain Capital, among others.
Elsewhere, the race for SAI Global has only one contender at the moment, with a joint bid from KKR and Pacific Equity Partners, potentially around the $1. 1bn-$1. 2bn mark, the only confirmed offer ahead of a bid deadline next week, the AFR reports.
According to the AFR, the KingGee, Stubbies and Hard Yakka brands could be on the block, with UK-based Bunzl, private equity firm Champ Ventures and local conglomerate Wesfarmers considered prospective bidders.
Also in retail, the Macquarie Capital-led review of Pacific Brands is progressing rapidly, with the advisor believed keen to press for a sale of Pac Brands’ workwear division.
Read more here: Business Spectator