Visitors from the US and Europe who engage a group of Australians in the game of “football” soon discover that the Aussies have their own rules.
The situation is no different in Australia's growing leveraged buyout market. A number of large international private equity firms have attempted to apply tried-and-trusted take-private strategies to the Australian stock market recently, only to end up seeing a dismaying percentage of these deals “kark it”, as the locals might say.
