Aug 27, 2026 – 5.35pmOceanaGold, capitalised at $9.5 billion in Toronto, has cleared the first hurdle to getting its circa $776 million bid for ASX-listed miner AusGold over the finishing line.AusGold’s major shareholder, L1 Capital, has committed to voting its 40 million shares in the West Australian developer in favour of the bid, Street Talk can reveal.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
L1 Capital backs AusGold’s $776m bid as Jeremy Raper blasts it
Street Talk’s straw poll on Thursday afternoon suggested AusGold shareholders are happy with the proposal, despite a campaign being run by activist investor Jeremy Raper.
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