Latest Takeovers News

Cue Energy delivered $19.8 million in operating cash flow and maintained its dividend in FY2026, despite lower profit, shrinking reserves and asset impairments. With Horizon Oil now controlling 57.03% of the register, the company enters FY2027 with a new board and an unusually busy drilling schedule.

SkyCity has signed a conditional agreement to sell The Grand Hotel and its business assets for $221 million, converting a previously proposed transaction into a binding deal. The proceeds are intended to repay debt, although completion still depends on Overseas Investment Office consent and other conditions.

Cygnus Metals’ takeover by Central Asia Metals has become effective after the Supreme Court of Western Australia approved the scheme and the court orders were lodged with ASIC. Trading in Cygnus shares is being suspended ahead of implementation scheduled for 27 October.

Warburg Pincus has refined its non-binding $5.25-per-security proposal for Ingenia, allowing securityholders to retain up to 5 cents of the next half-year distribution. The offer now hinges on exclusive due diligence and a board confirmation due by 19 October, but Ingenia has not endorsed it.

Crimson Consulting Australia has passed 50% voting power in Kip McGrath, triggering an automatic eight-day extension to its A$0.75-a-share takeover offer. The target’s directors continue to recommend acceptance in the absence of a superior proposal.

CZR Resources has declared its all-scrip offer for Zuleika Gold best and final after lifting voting power to 72.45%, while confirming the structure of a proposed $15 million buy-back. The takeover consideration will not increase unless a competing proposal emerges, leaving the 6 November closing date as the next key deadline.

Mayfield Childcare has reset FY26 underlying EBITDA guidance to $2.4 million-$2.7 million after occupancy weakened and fee increases arrived late. A completed head office restructure is expected to deliver $1.5 million in annualised savings, mostly from FY27.

The Supreme Court of Western Australia has approved Central Asia Metals’ scheme to acquire 100% of Cygnus Metals, moving the transaction into its final procedural phase. Cygnus expects the scheme to become effective on 15 October, with implementation scheduled for 27 October.

Javelin Minerals has advanced its proposed all-scrip takeover by FirstAU while securing Eureka’s final mining approval and reporting further gold intersections. The deal offers a broader exploration portfolio, but the loss of Eureka’s processing pathway and a cash runway of about 2.57 quarters remain material constraints.

Central Asia Metals has secured the Kazakhstan regulatory approval required for its proposed acquisition of Cygnus Metals, removing a key condition before tomorrow’s Second Court Hearing. The scheme remains subject to the court process and any remaining conditions, with implementation still targeted for 27 October.

Zenith Minerals has reaffirmed its support for Forrestania Resources’ takeover, arguing that the completed Edna May acquisition and A$310 million capital raising outweigh a sharply lower implied offer value. The recommendation comes with a clear split: long-term shareholders may favour the combination, while shorter-term holders may reasonably reject it.

Forrestania Resources has extended its takeover offer for Zenith Minerals to 12 November after Takeovers Panel findings forced corrective disclosure and new shareholder protections. The bidder says it has 49.43% acceptances and a 58.54% relevant interest, but restrictions will limit its voting and control rights even if the offer succeeds.