DataRoom AM: Tempting Treasury Wine

By Daniel Palmer

According to Bloomberg, analysts at Morgans and Credit Suisse both see Atlas as a likely candidate for M&A activity given its valuation is the lowest among its peers relative to profit.  Fortescue Metals Group and Chinese steelmakers were seen as likely candidates, though Fortescue appears more likely to continue its push to reduce debt rather than chase takeovers.

In retail, the number of firms in the running for womenswear business Lorna Jane has thinned as private equity firms decide not to pursue a bidding war with trade buyers.  Under Armour, Advent International and Foot Locker are among the prospective buyers of the $400 million business.

Treasury Wine Estates’ private equity suitor, KKR, has lifted its conditional takeover offer for the wine giant by 6 per cent, according to The Australian Financial Review.

Read more here: Business Spectator


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