Takeover speculation in the Australian today

https://www.theaustralian.com.au/business/dataroom/after-being-left-at-the-altar-ozforex-back-on-the-takeover-table/news-story/b942961d7087c2422f566c70907dfc3d

Cut and paste in case you can't read behind the paywall.

It was a takeover target five years ago — now some are wondering whether OzForex is back on the agenda for an acquisition by a private equity firm.Western Union offered to buy currency transfer business OzForex for $888m in 2015, but the deal never eventuated after the suitor later walked away.At that time, possible rival buyers were named as Euronet Worldwide, HiFix and Canada’s XE.com, along with possibly American Express, PayPal Australia and private equity firms including US-based Silver Lake and The Carlyle Group. It is understood that all of Australia’s major banks ran an eye over the business when it was subject to a dual track process in 2013.Now it could prove to fit the bill for private equity firms, which have been active in the market of late.Currently, BGH Capital is looking at Village Roadshow and Pacfic Equity Partners is looking at Owens-Illinois’ Australian operations.Last year, listed companies Healthscope, Aveo and Navitas were all purchased by private equity.
The prediction is that more acquisitions by buyout funds of listed companies will be on the agenda this year as the search continues for opportunities to invest large amounts of money amid a low interest rate environment.OzForex was worth about $1bn when it floated on the Australian Securities Exchange — now its value is about $350m.
Its net profit for the six months to September was $8.3m, down on the previous corresponding period, with the company saying it had been operating in a challenging environment, with continued Brexit uncertainty and the ongoing US-China trade wars.The cost of making foreign exchange transactions is far higher with major conventional banks than with outfits such as OzForex, which have capitalised on their banking relationships in major financial centres such as New York.The last time it was subject to a takeover, Western Union was advised by Gresham and OzForex Macquarie Capital.