KARACHI, PAKISTAN: Pakistan Automotive Manufacturing Association (PAMA) has released the sales and production data for the month of Feb’23, where car sales are down by 40% MoM to clock in at 3,642 units. The decline in sales is mainly due to supply side constraints along with muted demand which has led automobile players to close…
PPK Group to acquire majority interest in lithium battery manufacturer, PowerPlus Energy
SYDNEY, AUSTRALIA: PPK Group Limited (ASX: PPK) has entered a series of conditional transactions to acquire a material interest in PowerPlus Energy Pty Ltd, Australia’s largest privately owned lithium battery manufacturer. PowerPlus Energy specialises in supplying reliable, long-lasting modular battery storage solutions for on-grid and off-grid homes and businesses. PowerPlus Energy, based in Melbourne, Victoria…
U.S. average mortgage rate drop to 6.57%
The U.S. average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday. U.S. mortgage rates loosely follow the yield on the 10-year Treasury, which fell to a one-month low in…
Silver Lake and CPP Investments to acquire Qualtrics for $12.5 billion
Silver Lake and CPP Investments announced plans to acquire Qualtrics for $12.5 billion. Shares of Qualtrics were up more than 6% Monday, CNBC reported. Qualtrics is a web-based software platform that provides a range of research tools for businesses, academic researchers, and other organizations. The platform allows users to design and distribute surveys, collect and…
Pfizer acquires Seagen for $43 billion to produce record scale cancer drug
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…