FleetPartners Attracts Global Bidders in High-Stakes Acquisition Battle

FleetPartners has received competing takeover bids from Japan's ORIX and SG Fleet, boosting its stock to an eight-year high. The offers highlight international interest in Australian financial services firms. While ORIX proposed A$3.80 per share, SG Fleet offered A$4, valuing FleetPartners at over A$844 million.

In a sign of growing global interest in Australia’s financial services sector, FleetPartners has emerged as the focal point of a high-stakes acquisition contest. The vehicle lease provider has received bids from Japan's ORIX and Pacific Equity Partners-backed SG Fleet, causing its stock to surge to an unprecedented eight-year high.

The Melbourne-based firm saw its shares climb 6.7% at one point, closing 5.9% higher at A$4.1, marking its best performance since December 2017. Market interest has pushed the stock up by over 40% since the first takeover propositions surfaced last week, highlighting the continued attractiveness of Australian-listed companies to international acquirers.

The fresh bids include ORIX's A$3.80 per share offer, alongside SG Fleet’s bid sweetened by 20 cents to A$4, valuing FleetPartners at A$844.8 million ($596.09 million). Despite multiple suitors, FleetPartners’ board is yet to confirm a transaction, reminding investors that the process might invite even higher offers.