Pfizer CEO Albert Bourla on Monday said the pharmaceutical giant will be able to deliver Seagen’s cancer therapy to the world “at a scale that has not been seen before” with its $43 billion acquisition, CNBC reported. Seagen, formerly known as Seattle Genetics, is a biotechnology company that specializes in the development and commercialization of…
Australian energy regulator all set to increase prices this week
The Australian Energy Regulator will release its interim decision on Wednesday, where it’s expected to increase the maximum retail electricity fee for homes and small businesses in NSW, South Australia and southern Queensland. The Australian Council of Social Services (ACOSS) is calling on the government to help less-privileged people by wiping off their energy debt. It wants…
United Kingdom will ramp up defense spending by $6 billion
The United Kingdom will ramp up defense spending by $6 billion. In a statement released Sunday, British Prime Minister Rishi Sunak pledged to use the extra spending, spread over two years, to replenish ammunition stocks, modernize the UK’s nuclear submarine program and fund the “next phase” of AUKUS, a security pact struck between the three…
How Ignoring M&A Can Affect a Company’s Growth? Where Do You Need Mergers & Acquisitions Specialists?
Merger and Acquisition (M&A) is a common practice in the corporate world to enhance a company’s growth. It is an efficient way to enter new markets, expand customer base, and acquire new technologies or resources. However, many companies still hesitate to pursue M&A due to various reasons, such as lack of expertise or fear of…
Sovereign Housing Association and Network Homes Limited enter merger talks
LONDON, UK: The boards of Sovereign Housing Association Limited and Network Homes Limited have agreed to enter into formal negotiations with a view to joining together in a merger. The decision was agreed by their respective boards on Thursday 9 March. The target date for the completion of the merger is 1 October 2023. The…
Sanofi agrees to acquire Provention Bio Inc. for $2.9 billion
PARIS, FRANCE: Sanofi has entered into an agreement to acquire Provention Bio Inc., for $25/share in cash, representing an equity value of approximately $2.9 billion. The transaction adds an innovative, fully owned, first-in-class therapy in type 1 diabetes to Sanofi’s core asset portfolio in General Medicines and further drives its strategic shift toward products with…
Ocean Partners UK Limited to acquire Erris Zinc Ltd
LONDON, UK: Zinnwald Lithium plc, the German focused lithium development company, announced the signing of a Heads of Terms Agreement with Ocean Partners UK Ltd, a trader of base metal ores and concentrates and parent company to Shanoon Resources Ltd, owner of the Galmoy Prospecting Licence in Ireland, for it to acquire Erris Zinc Ltd,…
Ricardo plc has acquired 90% of Aither Pty Ltd for £17 million
LONDON, UK: Ricardo plc, a global strategic, environmental, and engineering consulting company, has announced the acquisition of Aither Pty Ltd., a leading water-and-natural-resources advisory consultancy. Headquartered in Melbourne, Australia, Aither’s purpose is to help governments and businesses make better decisions about globally significant issues relating to water and natural resources. Aither’s 51 employees are based…
HSBC UK Bank is acquiring Silicon Valley Bank UK Limited for £1
LONDON, UK: HSBC Holdings plc announced that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1. As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a…
QMines Limited to divest its non-core gold and base metal exploration projects
SYDNEY, AUSTRALIA: QMines Limited has executed an exclusive option agreement with Queensland Critical Minerals Limited (QCML) for the divestment of its non-core gold and base metal exploration projects, Silverwood, Warroo and Herries Range. The projects are all located in South East Queensland. As part of the company’s growth strategy, resources have been directed towards the…
Aramco posts record 46.5% growth in profits to $161.1 billion in 2022
Saudi Arabia’s oil giant Aramco reported a record net income of $161.1 billion for 2022 (46.5% higher than previous year’s $110 billion), the largest annual profit ever achieved by an oil and gas company, CNBC reported. Aramco said net income increased 46.5 percent over the year, from $110 billion in 2021. Free cash flow also…
Auction for Silicon Valley Bank on for a total or partial acquisition by another bank
Federal regulators are conducting an auction for Silicon Valley Bank, with final bids due Sunday, according to a report from Bloomberg News. The bank was closed by regulators on Friday after massive withdrawals a day earlier created a bank run. The Federal Deposit Insurance Corporation (FDIC) took control of the bank on Friday, and started an auction process…