5 of the craziest things making news on the ASX this week

ASX investors were kept entertained this week as major news from some of the market’s biggest names hit headlines.

There was jaw-dropping news of a major hacking incident, two dramatic takeovers, earnings from some of the biggest banks on the S&P/ASX 200 Index (ASX: XJO), and a significant block sale.

So, without further ado, let’s take a look at some the craziest announcements to hit the ASX this week.

5 major ASX announcements making news this week

Medibank refuses to pay ransom, hackers publish stolen data

The Medibank Private Ltd (ASX: MPL) cyberattack hit headlines in a big way this week.

Cybercriminals who took off with the personal and sensitive information of nearly 10 million Medibank customers last month published a chunk of the stolen data on the dark web on Wednesday.

The now-public data includes names, birth dates, contact information, Medicare numbers, and in some cases, the healthcare-related information of hundreds of the insurer’s current and former customers.

It followed Monday’s news the company had refused to pay a ransom for the information. Medibank expects more data drops to follow.

Former AGL suitor pops $18.4 billion question to Origin

It looks to be takeover season on the ASX, and Origin Energy Ltd (ASX: ORG) is the latest target.

The company announced it would likely accept a $9 per share bid from Brookside Asset Management and MidOcean Energy on Thursday. That is, if the pair can turn their non-binding offer into a full-blown proposal.

Eagle-eyed market watchers might remember that Brookfield was previously chasing AGL Energy Limited (ASX: AGL). It posted an $8.25 per share bid in collaboration with Grok Ventures in March.

Perpetual’s takeover triangle

More dramatic takeover news from Perpetual Limited (ASX: PPT) also made headlines this week.

The company announced it had rejected yet another takeover offer from a consortium made up of BPEA Private Equity Fund VIII and Regal Partners Ltd (ASX: RPL). This time, the consortium offered $33 per share.

While the bid was rejected, it threw a spanner in Perpetual’s ongoing plan to acquire fund manager Pendal Group Ltd (ASX: PDL). The first court hearing for the pair’s scheme of arrangement was expected to go ahead this week.

However, it’s now been delayed at Perpetual’s request in light of the consortium’s takeover bids. That’s despite Pendal initially assuring it would proceed as planned.

Two ASX 200 big four banks post earnings

It’s also been a massive week of news fans of ASX 200 bank shares. We’ve had earnings announcements from both Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).

Westpac posted a near-$5.7 billion full-year profit on Monday, while NAB’s came in at around $6.9 billion on Wednesday.

The Westpac share price fell 4% on its earnings. That of NAB slipped 1% on its results.

Magellan co-founder sells more than $100 million worth of stock

Finally, investors might have been shocked to hear news Magellan Financial Group Ltd (ASX: MFG) co-founder Hamish Douglass had sold a 13 million-strong parcel of the company’s stock in a block trade this week. The company announced the sale was made for “family diversification purposes”.

Douglass sold the shares for $9.10 apiece – an approximate total of $118 million.

The post 5 of the craziest things making news on the ASX this week appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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