SYDNEY: humm Group Limited (ASX: HUM) announced it received a non-binding indicative offer from The Abercrombie Group Pty Ltd (TAG) to acquire all outstanding shares of the company not already held by TAG and its associates. The offer, disclosed after market close on June 23, proposes a cash price of $0.58 per share, a 35%…
SWARM Biotactics raises €13 million to deploy AI-driven insect swarms for mission-critical operations
KASSEL: SWARM Biotactics, a developer of insect-based bio-robotic systems, has raised €10 million ($10.7 million) in seed funding to scale its intelligent swarm technology for use in defense, security and emergency response missions. The latest round brings the German startup’s total funding to €13 million, including a €3 million pre-seed investment. The round was led…
Diversified Energy, Carlyle announce $2 billion partnership for U.S. oil and gas assets
LONDON: Diversified Energy Company (LSE: DEC; NYSE: DEC) and global investment firm Carlyle (NASDAQ: CG) announced Tuesday a strategic partnership to invest up to $2 billion in existing U.S. natural gas and oil assets. The collaboration will combine Carlyle’s asset-backed finance expertise with Diversified’s operational experience in acquiring and managing long-life energy assets. Under the…
Hunting plc completes £50m acquisition of UK-based FES
LONDON: Hunting PLC (LSE: HTG), a precision engineering group, announced Monday it has acquired the entire issued share capital of Flexible Engineered Solutions (FES) Holdings Limited for £50 million in cash. The deal, completed on a cash-free, debt-free basis, includes customary post-completion adjustments. The acquisition supports Hunting’s 2030 growth strategy, expanding its offshore and subsea capabilities…
Rio Tinto, Hancock Prospecting to Invest $1.61 billion in Australian iron ore project
PERTH: Rio Tinto and Hancock Prospecting will invest $1.61 billion to develop the Hope Downs 2 iron ore project in Western Australia’s Pilbara region, the companies announced. Rio Tinto’s share of the investment is $800 million. The project, which has received all necessary state and federal approvals, will mine the Hope Downs 2 and Bedded Hilltop…
Markets shake off U.S.-Iran escalation as oil slips, stocks rally on Fed optimism
Dow, Nasdaq, and S&P 500 rebound as oil prices dip and investors eye July Fed rate cut Global markets on Monday appeared to shrug off rising tensions in the Middle East after the U.S. joined Israel in launching airstrikes on Iranian nuclear facilities over the weekend. Despite fears of regional escalation, both stock and commodity…
Middle east aviation crisis: Airlines reroute flights amid U.S.-Iran tensions
With Hormuz in jeopardy, flight paths shift and policymakers face new economic headaches Aviation networks across the Middle East are navigating a volatile new normal as U.S. illegal strikes on Iranian nuclear sites—and Tehran’s vow to retaliate—have triggered cascading disruptions to global air traffic, rising fuel costs, and a fraught geopolitical climate with no clear…
OXB takes full control of U.S. Subsidiary
LONDON: OXB (LSE: OXB), a leading global cell and gene therapy contract development and manufacturing organization (CDMO), has acquired the remaining 10% stake in its U.S. subsidiary, OXB US LLC, from Q32 Bio, Inc., securing full ownership of the facility. The move, finalized after OXB’s U.S. subsidiary exercised a prearranged call option in March, solidifies…
New deal aims to boost U.S. supply of rare earth materials
LONDON: A British mining company and a U.S.-based refiner are teaming up to help the United States secure a more reliable supply of rare earth elements—critical materials used in electric vehicles, defense tech, and smartphones. Pensana Plc has signed a new partnership agreement with ReElement Technologies and American Resources Corporation. The goal? Build a cleaner,…
Stonewater Funding appoints Jonathan Layzell as new CEO
LONDON: Stonewater Funding Plc has confirmed the appointment of Jonathan Layzell as its new Chief Executive Officer, following Nicholas Harris’s announcement (in April) of his intention to stand down. Mr Layzell has played a key role in shaping Stonewater since its creation, joining its Chief Officer Group in 2016, having previously held various roles with…
Hot Rocks Investments acquires stake in Mendell Helium
LONDON: Hot Rocks Investments Plc announced Tuesday it has subscribed for 7.5 million new ordinary shares in Mendell Helium Plc at 2 pence per share, investing £150,000 ($190,000) as part of Mendell’s £515,000 ($650,000) fundraising round. In addition to the equity stake, Hot Rocks received 7.5 million warrants in Mendell, half exercisable at 4 pence…
Shift4 to acquire Smartpay for NZ $296 million
SYDNEY: Smartpay Holdings Ltd. said Monday it has entered into a scheme implementation agreement to be acquired by U.S.-based Shift4 Payments, LLC for NZ$1.20 per share in cash, valuing the New Zealand payment provider at approximately NZ$296.4 million. The deal, to be executed via a court-approved scheme of arrangement under Part 15 of New Zealand’s…