Child Care News
Analysts less opposed to G8-Affinity deal
The Australian - Michael Roddan - July 7, 2015While Affinity Education has slammed G8 Education's acquisition approach as hostile and opportunistic, equity analysts are less opposed to the idea, saying that a takeover would compliment G8's portfolio, and lead to synergies across a post-merger group. On Friday, G8...
G8 Education says lower Affinity Education bid reflects poor earnings update
Financial Review - Jessica Gardner - July 6, 2015Childcare operator G8 Education has hit back at a revelation by its takeover target Affinity Education that its recent $162 million bid for the smaller rival was a fraction of a confidential approach it had made in April. G8 confirmed a report in The Australian Financial Review...
Affinity slams G8 bid, complains to ASIC
The Australian - Mitchell Bingemann - July 6, 2015Affinity Education is hitting back at the hostile takeover attempts from rival childcare provider G8 Education, appointing legal advisers and lodging a formal complaint with the corporate regulator ASIC. On Friday G8 launched a hostile takeover bid for its smaller rival Affinity Education...
G8 Education offer for Affinity Education is not its first, or best
Sydney Morning Herald - Stephen Cauchi - July 6, 2015The latest bid, which Affinity chairman Stuart James has rejected as "opportunistic and highly conditional", is based on a share price of 69ยข. It is understood Affinity said it would consider the proposal and both parties agreed to meet again on June 24. Sources said that at the next...
Childcare package will put Australia behind: researchers
Sydney Morning Herald - Judith Ireland - July 6, 2015The Abbott government's childcare package is "decades out of date" and will put Australia behind other developed nations when it comes to early childhood reform, a new McKell Institute report says. University of New South Wales researchers Deborah Brennan and Elizabeth Adamson argue...
Australia lagging developed world on early-childhood education
Sydney Morning Herald - Deborah Brennan and Sam Crosby - July 5, 2015Yet Australia, somehow, missed the memo. Here, childcare policy is still seen as something of a regrettable necessity, required mainly to get women back into the workforce. Reflecting a philosophy that is decades out of date, the Abbott government's package is focused on boosting...
Takeover targets: childcare back in fashion
The Australian - Rebecca Urban - July 4, 2015Big business is quietly snapping up childcare centres across the country, as rising operating costs and increasing regulation continue to place pressure on independent operators. Yesterday's announcement of a $160 million-plus takeover bid by Australia's largest private-sector childcare...
G8 Education lines up Affinity
The Australian - Bridget Carter and Gretchen Friemann - July 3, 2015Childcare group G8 Education is expected to launch a formal takeover bid of its smaller rival, Affinity Education, after taking a 16 per cent stake in the company last night. As reported on The Australian's BusinessNow blog, fund manager sources said a buyout offer was "imminent"...
David Leyonhjelm thinks childcare subsidies are a mistake
Financial Review - David Leyonhjelm - July 2, 2015Over the past decade or so, subsidies for childcare have grown continuously and rapidly to the point where they now pose a real threat to long-term budget sustainability. The main reason for this is the increased credentialism and regulation that pervades the sector. Whereas childcare...
Affinity Education investors spit the dummy
The Australian - Tim Boreham - July 2, 2015Childcare provider Affinity Education's earnings update and "positive" operational outlook today looks like it was meant to be as soothing as Daktarin cream on a chafed rear, but investors have spat the dummy anyway. Affinity shares (AFJ, 53c) were birched by 29c, or 35 per cent, after...
New child protection laws designed to hold more people to account
Herald Sun - Eddie Morton - July 1, 2015Organisations responsible for supervising children will now be required to actively manage the risks of sexual offences being committed against children in their care and "further protect them from harm". Failure to do so could result in the organisation or person in authority going to jail for up...
The industries set to fly and fall in 2015-16
Smart Company - June 30, 2015Growth in female workforce participation and strong government support for childcare providers are projected to support industry revenue growth of 12.2% in 2015-16, continuing a robust growth trend. Demand for childcare services continues to expand, as more and more families become...
NSW Government accused of underspending on early childhood education in budget
ABC News - Brigid Glanville - 25 June 2015Initial reaction to the Government's $2.1 billion surplus has been positive but some cracks are starting to appear. In the budget forecast for the current financial year 2014/15 spending on childhood education was set down at $361 million. However, only $263 million was spent...
Preschool is most expensive in NSW
Sydney Morning Herald - Sam Buckingham-Jones - June 24, 2015Parents in NSW are paying almost $20 more each day for preschool than other states and territories as the state government continues to underspend its allocated early childhood education budget. At the same time, figures show that almost 30 per cent of the state's children are not...
Donations by childcare union United Voice subject of inquiry
Daily Telegraph - Simon Benson & Daniel Meers - June 23, 2015THE peak childcare union poured more than $1 million into Labor campaign coffers in return for a $300 million taxpayer-funded scheme to give pay rises to union-aligned childcare centres. The Daily Telegraph can reveal the United Voice union almost tripled its donations to the ALP in the same...
