Grant Thornton Australia’s board has reportedly agreed to a sale to a private equity-backed American counterpart, a move set to reshape the local professional services sector. The transaction, expected to value the prominent advisory, tax, and audit firm at more than $800 million, requires approval from nearly 200 local partners. This significant development underscores a period of dynamic M&A activity within the Australian business landscape.
Meanwhile, the Australian Securities Exchange saw shares fall to a three-week low, with Origin Energy extending its losses following a UBS downgrade. In contrast, European Lithium experienced a substantial surge, with its shares climbing 61 per cent. Sector-specific news included Whitehaven Coal reporting higher coal prices, Capricorn flagging prospects at Mt Gibson, and Beach Energy’s operations facing impacts from adverse weather conditions.
The artificial intelligence space is also generating significant headlines. Anthropic, a leading AI developer, has appointed an Australian managing director to oversee its expanding local commercial agreements. Separately, AI infrastructure start-up Sharon AI successfully raised $487 million from institutional investors, earmarked for the acquisition of AI chips, ahead of its planned ASX listing. These developments highlight the increasing investment and expansion of AI firms within the Australian market.
Rounding out industry news, UBS’s Australian research team, led by Kieren Chidgey and Marcus Curley, once again secured the top spot in investment bank research analyst rankings. Their team achieved the highest blended score, affirming their strong analytical presence in the market.
