LONDON: Baker Steel Resources Trust Ltd. said Wednesday that it expects to receive approximately $5.16 million in cash in the third quarter, following the divestment of a key royalty interest in a Russian silver project. The company announced that PAL, in which it holds a 49.99% interest, has signed a binding agreement to sell its…
KKR to acquire Spectris in £4.1 billion deal
LONDON: Private equity firm Kohlberg Kravis Roberts & Co. (KKR) has agreed to acquire British precision measurement company Spectris plc in a recommended cash deal valued at approximately £4.1 billion ($5.2 billion). Under the terms of the acquisition, Spectris shareholders will receive £40.00 per share, comprising £39.72 in cash from KKR’s acquisition vehicle, Project Aurora…
Banco Sabadell to sell TSB to Santander for £2.9 billion
BARCELONA: Banco Sabadell’s board agreed Tuesday to propose the sale of its British subsidiary, TSB, to Banco Santander for £2.9 billion (€3.4 billion) in cash, with the deal expected to close in the first quarter of 2026. The Spanish bank said it will recommend an extraordinary cash dividend of €0.50 per share, totaling about €2.5…
Figma files for IPO, reports strong growth after failed Adobe deal
SAN FRANCISCO: Figma, a design software company, has filed for an initial public offering on Tuesday, marking one of the most anticipated market debuts in recent years as it prepares to list on the New York Stock Exchange under the ticker symbol “FIG.” The San Francisco-based company, known for its collaborative design tools, reported a…
Euronext’s Athens Stock Exchange acquisition on the cards
Euronext is in discussions to purchase up to 100% of the Athens Stock Exchange in a 399 million euro ($470 million) all-share deal, according to Reuters. The move would mark the latest expansion for the pan-European exchange operator, which already runs markets in France, the Netherlands and other countries. On Tuesday, Euronext announced plans to…
Intralot to acquire Bally’s International Interactive business in €2.7 billion deal
ATHENS: Intralot S.A. (ATSE: INLOT) and Bally’s Corporation (NYSE: BALY) announced Tuesday that their boards have approved a definitive agreement for Intralot to acquire Bally’s International Interactive business in a cash-and-stock transaction valued at €2.7 billion ($2.9 billion). The deal, expected to close in the fourth quarter of 2025, will see Intralot pay €1.53 billion…
U.S. stocks mixed as tech weighs on market; Dow hits 5-month high
Tech slump offsets Dow gains as Trump-Musk feud, tariff worries rattle investors U.S. stocks were mixed in afternoon trading Tuesday, with the Dow Jones Industrial Average climbing to a five-month high while tech stocks dragged on the broader market. The S&P 500 edged up 0.1%, while the Dow gained 452 points, or 1%, to 44,500—its highest level since early…
Grammarly acquires Superhuman to expand AI productivity offerings
SAN FRANCISCO: Grammarly has acquired email productivity startup Superhuman, the latest move in its broader effort to build an artificial intelligence-powered workplace suite, Reuters reported Tuesday. Financial terms of the deal were not disclosed. Superhuman, once an invite-only platform for high-efficiency email communication, was last valued at $825 million in 2021 and generates roughly $35…
Hawkins Inc. completes acquisition of PhillTech LLC
ROSEVILLE: Hawkins, Inc. (Nasdaq: HWKN), a leading water treatment and specialty ingredients company, announced Tuesday it has completed the acquisition of PhillTech, LLC, an Alabama-based manufacturer of coagulants and corrosion control products for water treatment. The acquisition aligns with Hawkins’ strategy to expand its water treatment business. PhillTech has been a long-standing strategic partner of Hawkins,…
Limbach acquires Pioneer Power in $66.1 million deal to expand upper Midwest footprint
PITTSBURGH: Limbach Holdings, Inc. (Nasdaq: LMB), a provider of building systems solutions, announced Tuesday it has acquired Minnesota-based Pioneer Power, Inc. for $66.1 million in a strategic move to strengthen its position in the Upper Midwest market. The acquisition was funded through a combination of cash on hand and borrowings under Limbach’s recently expanded revolving…
CVC DIF, Tabreed to acquire PAL Cooling from Multiply Group in AED 3.8 billion deal
ABU DHABI: CVC DIF, the infrastructure investment strategy of global private markets manager CVC, and National Central Cooling Company PJSC (Tabreed) have announced a strategic partnership to acquire PAL Cooling Holding from Abu Dhabi’s Multiply Group, in a deal valued at approximately AED 3.8 billion. The transaction—subject to customary regulatory approvals—includes eight long-term concessions currently…
AppLovin sells mobile gaming business to Tripledot Studios for $400 million
PALO ALTO: AppLovin Corp. (NASDAQ: APP), a leading marketing platform, has completed the sale of its mobile gaming division to Tripledot Studios in a deal valued at $400 million in cash and an equity stake of approximately 20% in Tripledot’s fully diluted shares. The transaction, initially announced May 7, closed June 30 after meeting all…