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Horizon Oil Launches Takeover Bid for Cue Energy Resources

Horizon Oil Limited (ASX:HZN) has announced an off-market takeover offer to acquire all of the shares in Cue Energy Resources Limited (ASX:CUE) that it does not already own. Under the offer, Cue shareholders will receive a combination of $0.008 cash and 0.5625 Horizon shares for each Cue share held.

The offer represents a 10% premium to Cue's closing price on the last trading day and a 16.3% premium to its 30-day volume-weighted average price. If successful, the transaction will result in existing Cue shareholders holding 16.31% of the combined group.

Horizon believes the combination may deliver strategic and financial benefits, including increased scale, an expanded asset portfolio, and potential synergies of up to $2 million per year. The offer is subject to several conditions, including a 50.1% minimum acceptance threshold and regulatory approvals.

Vysarn Reports Record 1H FY26 Earnings, Reaffirms FY26 Guidance

Vysarn Ltd (ASX:VYS) has delivered a record half-year earnings result, with NPBT of $10.05 million, up 92% year-on-year. Revenue increased 63% to $66.81 million, while EBITDA grew 71% to $13.87 million.

The company reaffirmed its FY26 NPBT target of $20 million, based on its current work in hand and anticipated project awards. Vysarn is expanding its national footprint and targeting accretive organic and acquisition growth opportunities in the water industry.

The company highlighted its strong funding capacity, with net tangible assets of $59.1 million and cash of $13.8 million, providing material capacity for future growth.

Red Hill Minerals Reports Successful Half Year, Declares Interim Dividend

Red Hill Minerals Ltd (ASX:RHI) has reported a statutory profit before tax of $15.2 million for the half year, up from $5.3 million in the prior corresponding period. The company's Onslow Iron Ore Project royalty revenue was $14.9 million.

Red Hill also continued its exploration efforts, spending $4.6 million on key projects. The company paid a fully franked interim dividend of 11.6 cents per share and ended the half year with a cash balance and receivables of $69.9 million.

Magellan and Barrenjoey to Merge, Creating Diversified Financial Services Group

Magellan Financial Group (ASX:MFG) and Barrenjoey Capital Partners have announced a proposed merger, creating a diversified financial services group with $40 billion in assets under management.

The combined entity will have a proven talent base across investment management, corporate finance, equities, fixed income, and capital markets. The merger is expected to improve business diversification and resilience, enhance the client proposition, and provide opportunities to retain and attract top talent.

The transaction implies a value of $1,616 million for Barrenjoey, representing a 15.0x P/E on a last twelve-month basis, prior to synergies. The merger is subject to shareholder and regulatory approvals.