Whatever the sound of champagne being re-corked is, that was
what reverberated around Patrick Corporation on Saturday, says Matthew Stevens
in The Australian – after a stunning
back-flip with triple pike by Graeme Samuel, who gave transport giant Toll Holdings the ACCC’s blessing to go ahead with its revised
takeover offer for Patrick.

Meanwhile, Australia’s
traditional preference for a two-airline system has proven too tough for OzJet
to crack, says the budget business class airline’s chairman Paul Stoddart.
Insufficient business forced the newcomer to suspend its scheduled flights
between Melbourne and Sydney after just four months of operation and to
foreshadow “50 or 60” redundancies.

In The Sydney Morning Herald, Jamie Freed investigates BHP
Billiton’s very own special code of corporate conduct (especially in matters Iraq
and Oil).

New resource projects are popping up all over the place in
Victoria, says Barry FitzGerald in The
Age – including Panaegis Gold Mines which, as a pure Victorian exploration
play, is one of the biggest ever seen.

In other news, Coles Myer will today officially unveil the consortium of
Newbridge Capital, Texas Pacific Group and the Myer family as the new owners of
the Myer department store… What next month’s $1.68 billion listing of explosives major Dyno Nobel means for Orica’s own larger explosives
business… More of Tattersall’s deep dark secrets – including
details of sensitive political conversations – set to be revealed… And the London Stock Exchange spurns its third takeover
approach in 15 months, this time rejecting a 2.4 billion pound offer from the
American Nasdaq market.