Latest Foreign Investment Review Board News

Abacus Storage King has received a revised acquisition proposal from a consortium led by Ki Corporation and Public Storage, increasing their cash offer by 15% to A$1.65 per security. The independent board committee is opening a six-week due diligence window but urges securityholders to hold off on any action.

Finbar Group has acquired the Palmyra development site from its JV partner, transforming it into a wholly-owned project valued at $88 million with settlement expected in early 2026.

TPG Telecom has received Foreign Investment Review Board approval to sell its fibre and fixed Enterprise, Government and Wholesale assets to Vocus for $5.25 billion, marking a pivotal step in its strategic reshaping.

The Australian Competition and Consumer Commission has signaled no opposition to DP World Australia’s acquisition of Silk Logistics, advancing the deal but leaving key approvals pending.

AVJennings Limited has secured crucial approvals from Australian and New Zealand regulators for its proposed acquisition by PM Nominees C Pty Ltd, moving the deal closer to completion.

Mandalay Resources Corporation has agreed to a plan of arrangement to be acquired by Alkane Resources Limited through its wholly owned subsidiary. Mandalay shareholders will receive 7.875 Alkane shares for each Mandalay share held, creating a combined gold and antimony producer with a strong balance sheet and diversified operations across Australia and Sweden.

Alkane Resources has secured key regulatory approvals from FIRB and ASIC, paving the way for its planned merger with Mandalay Resources. This milestone brings the companies closer to creating a diversified Australian gold and antimony producer.

TPC Consolidated Limited has extended critical deadlines for its acquisition scheme with Wollar Solar Holding, awaiting Foreign Investment Review Board approval. The move delays the scheme's completion but keeps the deal alive for now.

Duxton Farms Ltd is set to transform its agricultural portfolio through a strategic merger with four private companies, alongside a $4 million placement and a special dividend, aiming to boost scale and diversification.

MIXI Australia has launched a recommended all-cash takeover offer for PointsBet at $1.20 per share, significantly outpacing rival Betr Entertainment’s scrip proposal. The PointsBet board unanimously supports MIXI’s bid, highlighting its certainty and premium value.

Alkane Resources has moved forward with its planned merger with Mandalay Resources, scheduling shareholder meetings for late July to approve the deal that would create a diversified Australian-focused gold and antimony producer.

PointsBet shareholders have voted in favour of the proposed $1.20 per share acquisition by MIXI, Inc, marking a significant premium and clearing a key hurdle ahead of court approval.