Orica (ASX:ORI) completed the full acquisition of the Nelson Brothers' explosives joint venture business in the US, according to a Monday statement.
The deal expands the firm's manufacturing footprint, downstream distribution capabilities, and access to customers. It also simplifies its business structure in North America.
Its shares fell 1% in recent trading on Tuesday.
Chinese buyers who purchase high-end homes in Hong Kong are expected to be affected by Beijing's new rule to curb illegitimate cross-border funds, Bloomberg News reported Tuesday.Chinese buyers have splurged their wealth on Hong Kong luxury homes, spending a record high of HK$43 billion on the island in the first three months of the year. In the first four months, mainlanders purchased Hong Kong property with a median value of HK$6.95 million, higher than the locals' spending of HK$5.43 million, the report said, citing data from Midland Realty.Data from Bloomberg Intelligence showed that demand and sales of such houses may be negatively affected as the new law targets buyers who can make large cash down payments on deposits. In May, Beijing placed restrictions on banks and global stock trading, according to the media outlet.Despite the new regulations, demand from mainlanders will remain, analysts said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Tourism Holdings (ASX:THL, NZE:THL) appointed Kylie Elsom as chief people and capability officer, effective September, according to a Tuesday filing with the Australian and New Zealand bourses.Elsom most recently worked at Pie Funds New Zealand, the filing added.
Tasmea (ASX:TEA) struck a deal to acquire specialist electrical contractor Maxim Group Australia for up to AU$254 million, according to a Tuesday filing with the Australian bourse.The consideration includes about AU$112 million of upfront cash, AU$72 million in Tasmea scrip with 12 million new shares issued to vendors at AU$6 each, and cash earn-out payments of up to AU$70 million based on profitability milestones, per the filing.Tasmea expects the deal to be immediately accretive to earnings per share, estimating about 31% pro forma EPS accretion in fiscal 2026 excluding synergies and assuming 12-month ownership of Maxim.The company said Maxim has an identified pipeline in excess of AU$1.3 billion, which provided full revenue visibility for fiscal 2027 and about 85% revenue visibility for fiscal 2028.Tasmea reconfirmed its fiscal 2026 guidance for underlying net profit after tax of AU$72.5 million. The company said Maxim will contribute to fiscal 2027 earnings after the deal's expected closing around July 1.Shares of Tasmea jumped 17% in recent Tuesday trade and earlier hit an all-time high.