Daily Roundup

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Peter Warren Charts New Course on Wakeling Acquisition

Peter Warren Automotive Holdings has shifted strategy on its proposed acquisition of Wakeling Automotive following feedback from the Australian Competition and Consumer Commission. Rather than proceeding to a Phase 2 review, the company has withdrawn its original application and plans to submit a fresh Phase 1 application that includes a remedy proposal. The company has been working with Wakeling Automotive vendors to refine the deal structure, signaling a more collaborative approach to addressing regulatory concerns. Further updates are expected as the process moves forward.

Monash IVF Navigates Softer Market Conditions

Monash IVF Group is adjusting expectations for FY26, forecasting underlying net profit after tax between $17 million and $18 million as Australian fertility treatment activity continues to disappoint. Stimulated cycle volumes have declined 4.7% as of April, with the slowdown persisting through May and June. The silver lining? The company has actually grown its national market share to 20.1% despite the broader market headwinds, capturing ground from competitors in several states. International operations are firing on all cylinders, and management is rolling out operational efficiency initiatives that should deliver more substantial benefits next financial year.

Vita Life Sciences Stays on Track

Vita Life Sciences is guiding for solid half-year results, with sales expected to land between $46.3 million and $47.3 million and pre-tax profit between $6.8 million and $7.3 million. The nutritional products company is seeing steady growth from its established markets in Australia and Malaysia/Singapore, though Chinese exports remain under pressure due to regulatory shifts and channel changes. With no debt, substantial cash on hand, and ongoing cash generation, Vita is in a strong position to fund strategic investments while maintaining disciplined cost management.

Woodside Doubles Down on Browse

Woodside Energy has exercised its pre-emption right to acquire PetroChina's 10.67% stake in the Browse Joint Venture, paying US$225 million upfront plus reimbursement of cash contributions, with a further US$175 million contingent on a final investment decision by mid-2032. The move consolidates Woodside's control over Australia's largest undeveloped conventional gas resource, which could produce 11.4 million tonnes annually of LNG, LPG, and domestic gas. CEO Liz Westcott framed the acquisition as a disciplined, capital-efficient way to unlock long-term cash flows from a world-class asset.

Horizon Oil Tightens Grip on Cue Energy

Horizon Oil has freed its takeover bid for Cue Energy from virtually all conditions, leaving just one remaining hurdle. Already holding 52.46% of Cue's shares—representing 368.2 million shares of the 701.9 million on issue—Horizon is in a commanding position as it pursues full control. The removal of conditions including material adverse change clauses and litigation provisions signals confidence in closing the deal.