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PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Lynas Rare Earths (LYC AT) agreed to acquire Meteoric Resources (MEI AT) in an all-share deal valuing Meteoric at AUD 968mln

All-share offers in the rare earths space have historically clustered around periods when strategic supply-chain security is politically salient, with acquirers paying large premiums in paper rather than cash because funding conditions for junior developers are tight and scrip avoids balance-sheet strain.

Newsquawk StaffPublished On the live feed at , 20 minutes before this page
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PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Lynas Rare Earths (LYC AT) agreed to acquire Meteoric Resources (MEI AT) in an all-share deal valuing Meteoric at AUD 968mln

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AUSTRALIA

APA Group (APA AT) - Co. announced an AUD 1.3bln majority stake in the Brigalow Peaking Power Plant, which is set to provide 400MW of dispatchable energy in Queensland and is underpinned by a 25-year inflation-linked agreement with CS Energy. (Motley Fool)

Ampol (ALD AT) - Co. agreed to acquire EV-charging platform Evie Networks for AUD 225mln, adding more than 1,030 charging bays, with the fully debt-funded deal expected to deliver AUD 10mln in mostly cost synergies within three years and the charging business targeted to reach EBITDA breakeven in 2028. (Dow Jones Newsplus)

Domino's Pizza Enterprises (DMP AT) - Co. renewed its Belgium master franchise agreement until October 1, 2041, while extending its France agreement to October 31, 2026 to finalise definitive legal agreements and comply with local pre-signing disclosure requirements. (Dow Jones Newsplus)

Lendlease (LLC AT) - Co. has appointed Savills and CBRE to sell its Victoria Cross office skyscraper in North Sydney for about AUD 1.2bln as CEO Nick O’Neil moves to improve the Co.’s financial position. (The Australian)

Lynas Rare Earths (LYC AT) - Co. agreed to acquire Meteoric Resources (MEI AT) in an all-share deal valuing Meteoric at AUD 968mln, with shareholders to receive 0.0207 Lynas shares per share, representing a 68% premium to Meteoric's last close, with the target's board unanimously recommending the deal. (Dow Jones Newsplus)

Service Stream (SSM AT) - Co. has moved ahead of private equity firms including Carlyle and EQT in the race to acquire Japanese-owned Programmed, with final bids being prepared for the AUD 1bln business. (The Australian)

Suncorp Group (SUN AT) - Co. confirmed it is not in takeover discussions and has not received an offer, following a media report that Tokio Marine Holdings (8766 JT) had held preliminary takeover talks. (Newswires)

Transurban (TCL AT) - Co. agreed to acquire Canada Pension Plan Investment Board's stakes in major Sydney toll roads for AUD 4.5bln cash, including 25% of NorthWestern Roads Group and 10.5% of Sydney Transport Partners, lifting its respective ownership to 75% and 60.5%, with no equity funding required and no expected impact on FY27 free cash or distributions. (Dow Jones Newsplus)

Yancoal Australia (YAL AT) - Co. and Glencore have received NSW approval for a roughly AUD 3bln expansion of their Hunter Valley coal mine, clearing a major state hurdle to keep the operation running until at least 2045. (The Australian)

JAPAN

Kirin Holdings (2503 JT) - Co. is beginning to realise benefits from its acquisition of Australian supplement maker Blackmores as it expands its health products business across Asia. (Nikkei)

Mitsubishi Heavy Industries (7011 JT) - Co. plans to invest around JPY 100bln to expand commercial vessel capacity at its Shimonoseki shipyard by 25% in FY28 amid rising global demand. (Nikkei)

Nidec (6594 JT) - Co. is racing to strengthen governance and avoid delisting risk after its auditor declined to sign off on the accuracy of its delayed financial report. (Nikkei)

Toyota Motor (7203 JT) - Co. temporarily shut four plants in Thailand after flooding disrupted parts deliveries, with efforts underway to restart operations. (Nikkei)

SOUTH KOREA

Hyundai Mobis (012330 KS) - Co. signed a KRW 600bln deal to sell its lamp unit to France's OPmobility following the unit's spin-off in April. (Yonhap)

LG Electronics (066570 KS) - Co. plans to invest KRW 150bln in AI data centre cooling. (Newswires)

LG Energy Solution (373220 KS) - Co. announced a partnership with Indigotech to supply batteries for vans in the US. (Newswires)

Other News

US President Donald Trump unveiled plans for South Korea to invest USD 200bln in energy projects in the US under last year's bilateral trade agreement, including a gas-fired power plant in Texas, eight large-scale nuclear power plants and an LNG project in Alaska. (Yonhap)

South Korean authorities sold a net USD 9.6bln in Q2 to stabilise the FX market, according to central bank data. (Yonhap)

Context

A premium of the size quoted here, with a unanimously recommended board, follows the standard scheme-of-arrangement sequence under Australian takeover practice: a target shareholder vote, court approval, and a long tail of conditions precedent, with foreign-investment review an occasional feature given the sector's sensitivity. The distinction worth drawing is that Lynas is buying resource inventory rather than operating capacity, so the deal's economics rest on permitting and development timelines at the target's deposits, which in this sector have tended to run longer and cost more than initial plans. Precedent in comparable junior-miner takeovers is for the target to trade toward the implied offer value at the open while the acquirer softens modestly on dilution, the magnitude depending on arbitrage appetite and any speculation of interlopers. The follow-ons are the scheme booklet, the exchange ratio's sensitivity to Lynas's share price between now and the vote, and any rival interest given the scarcity of ex-China rare earths assets.

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