The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, according to futures trading in Sydney.
Here are the data points:
Australian Dollar ($A) (AUDUSD): 70.36 US cents
Dow Jones (DJI): down 1.8%
Oil (WTI): $US45.42 per barrel
Gold: $US1,255 per ounce
Sharemarket News
In sharemarket news, the board of directors at accounting group Myob Group Ltd (ASX: MYO) have recommended the new — but lower — takeover offer from private equity firm KKR.
As Rask Media reported last week, the private equity buyer reduced the amount of money it was willing to pay to take control of MYOB.
A few months back, KKR lobbed an unsolicited, indicative and non-binding proposal to acquire Myob for $3.77 per share through a ‘scheme of arrangement’. However, after completing its research and finalising its debt funding, KKR reduced the offer by 10% to $3.40 per share.
“The Directors of MYOB unanimously recommend that shareholders vote in favour of the transaction in the absence of a Superior Proposal and subject to an independent expert concluding the transaction is in the best interests of shareholders,” Myob’s public announcement read.
On Friday afternoon, embattled financial services business IOOF Holdings Ltd (ASX: IFL) announced its progress on implementing the changes required by the bank regular, APRA. IOOF shares have more than halved in 2018 on continued bad news and revelations.
Read the update here: Is It Time To Buy IOOF Shares?
Finally, Flight Centre Travel Group Ltd (ASX: FLT) announced it will make further investments in the large USA travel market.
Flight Centre revealed it will acquire Silicon Valley’s Casto Travel Inc’s US operations and it will sign a 10-year lease for the Bali hotel Camakila Legian.
“Looking ahead, we see great opportunities for Casto to grow as part of our FCM Travel Solutions business,” Flight Centre CEO Graham Turner said.
Flight Centre didn’t disclose the prices or costs associated with either the acquisition or the decade-long lease, instead, it chose to tout the massive potential of the markets and inject lots of positive statements into its update to investors.
Looking for 3 Dividend + Growth Shares To Watch In 2019?
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