Latest news with #L1Capital
AU Financial Review
06-05-2025
- Business
- AU Financial Review
Regal says Platinum business a ‘melting ice cube'
Regal Partners said it walked away from its attempt to buy Platinum Asset Management last year because the struggling global equities manager wanted too high of a price for a business that was in rapid outflows. The comments made by chief executive Brendan O'Connor at the Macquarie Australia Conference follows last week's move by rival hedge fund L1 Capital which bought a large chunk of Platinum founder Kerr Neilson's stake and confirmed merger talks between the two asset managers.
Wall Street Journal
01-05-2025
- Business
- Wall Street Journal
Shares in Australia's Platinum Surge on Merger Talks
SYDNEY–Shares in Australia's Platinum Investment Management surged after the fund manager entered merger talks with privately owned L1 Capital. The stock rose as much as 16% Thursday after Platinum said it was speaking with shareholders of Melbourne-based L1 over a merger that would create a business with funds under management of about 18 billion Australian dollars, or $11.5 billion.
AU Financial Review
01-05-2025
- Business
- AU Financial Review
L1 proposes Platinum merger; Tesla seeks Musk successor; Bonkers rally
Want to get this in your inbox at lunchtime every weekday? Financial Review subscribers can sign up for The Brief newsletter here. Plus start your day with our Before the Bell newsletter and read a full wrap of the day's news in Market Wrap. In today's news, L1 Capital buys Kerr Neilson's Platinum stake and proposes a merger, Tesla seeks a successor to take over from Elon Musk, and a market rally looks bonkers as the US economy shrinks.
Bloomberg
01-05-2025
- Business
- Bloomberg
L1 Capital and Platinum Asset Are in Preliminary Merger Talks
Platinum Asset Management Ltd. is in discussions with L1 Capital over a possible merger of the two Australian investment firms. Talks are at a preliminary stage and there is no guarantee that any transaction will eventuate, according to a Platinum statement Thursday.
AU Financial Review
01-05-2025
- Business
- AU Financial Review
L1 Capital buys Kerr Neilson's Platinum stake, proposes merger
L1 Capital says it is in discussions to merge with Platinum Asset Management, the high-profile global investment firm founded by billionaire stockpicker Kerr Neilson more than three decades ago. The Melbourne-headquartered hedge fund took a significant stake in Platinum from Neilson on Thursday. It is proposing to merge the companies, with L1 shareholders to own 75 per cent of the combined business.
