Good morning and happy Monday, it’s Ainsley here with the news you need to help fill the World Cup-shaped hole in our lives. We’re kicking off the week with an exclusive deals story from Sydney…
Today’s must-reads:
• US insurance giant nears deal to buy Honan
• LNG workers give Woodside an ultimatum
• World Cup legacy lives on after Spain’s victory
US insurance giant Marsh & McLennan is set to buy Australian peer Honan Insurance, my colleagues in Sydney have exclusively revealed. Marsh and TA Associates, Honan’s private equity owner, are finalizing details of a transaction that could value Honan at about A$700 million, according to people familiar with the matter. A deal may be announced as soon as today, they said.
Westpac said it was seeing a modest increase in customer stress when it reported a third-quarter profit of A$1.8 billion this morning. The lender also said that inflationary pressures were causing its expenses to rise.
