LONDON: European Assets Trust PLC (“EAT”) and The European Smaller Companies Trust PLC (“ESCT”) have agreed to combine in a deal expected to create one of Europe’s largest small-cap investment trusts, with net assets of approximately £780 million. The transaction, structured as a scheme of reconstruction under the U.K. Insolvency Act 1986, will allow EAT…
PHP outbids KKR-led consortium with £1.79 billion deal for healthcare rival Assura
LONDON: Primary Health Properties PLC (“PHP”) and Assura plc (“Assura”) announced Monday a recommended increased takeover offer for Assura, proposing a combination of cash and shares. The deal, structured under Part 28 of the U.K.’s Companies Act 2006, values Assura at approximately £1.79 billion ($2.27 billion). Under the revised terms, Assura shareholders would receive 0.3865 new…
Advent International to acquire Spectris Plc in £3.8 billion deal
LONDON: Spectris plc, a leading precision measurement company, has agreed to a recommended cash acquisition by MI Metron UK Bidco Ltd, an indirect subsidiary of funds managed by Advent International, the firms announced Monday. The deal, valued at approximately £3.8 billion ($4.8 billion), will see Spectris shareholders receive £37.63 per share, comprising £37.35 in cash…
Dow Jones edges higher as Iran tensions cool; Fed rate cut hopes linger
Fed Rate Cut Speculation and Iran Diplomacy to Dictate Dow Jones Momentum Next Week The Dow Jones Industrial Average (DJI) inched upward Friday, gaining 0.1% as easing Middle East tensions and renewed hopes for Federal Reserve rate cuts provided cautious relief to investors. The blue-chip index narrowly avoided a weekly loss, closing the holiday-shortened week up less than…
Al Borg Scan acquires Cairo Ray for radiotherapy in EGP 400 million deal
LONDON: Integrated Diagnostics Holdings (IDH), a leading provider of diagnostic services in the Middle East and Africa, announced Thursday that its Egyptian subsidiary, Al Borg Scan, has acquired CAIRO RAY for Radiotherapy in a strategic EGP 400 million deal. The acquisition of the East Cairo-based facility marks a key step in IDH’s expansion into radiology…
New World Resources agrees to revised $197 million takeover offer from Central Asia Metals
PERTH:New World Resources Limited (ASX: NWC) announced Friday it has entered into a revised acquisition proposal with Central Asia Metals Plc (LON: CAML), including an increased cash offer and conditional funding. The updated terms value New World at approximately 197 million Australian dollars ($130 million), with CAML raising its offer to A$0.053 per share —…
Which markets are opening up? MSCI’s 2025 accessibility report uncovers critical trends
Ireland, Greece, and Korea show progress, while China and Turkey face persistent barriers MSCI Inc. has released its 2025 Global Market Accessibility Review, highlighting a year marked by significant reforms in market infrastructure, particularly across Emerging and Frontier Markets. The report, published annually, evaluates the investability of equity markets using five core criteria and 18…
Canada threatens escalated counter-tariffs on U.S. steel and aluminum imports
Canada weighs stronger trade retaliation as U.S. steel and aluminum imports face 50% tariffs, industry braces for impact OTTAWA: Canada may impose higher counter-tariffs on U.S. steel and aluminum imports if negotiations with the Trump administration fail to yield a broader trade deal within the next 30 days, Prime Minister Mark Carney said Thursday. The…
CloudKeeper hits $200m revenue, expands cloud cost optimization leadership
SAN FRANCISCO: CloudKeeper, a top cloud cost optimization and FinOps firm, reported $200 million in annualized revenue and $20 million in EBITDA for the last fiscal year, marking 50% year-over-year growth. The milestone solidifies its position as one of the fastest-growing companies in the global cloud cost management sector. The company’s growth was driven by aggressive customer acquisition and expansion into North America, where…
Fox Corp acquires Mexico’s Caliente TV
NEW YORK: Fox Corp. said Thursday it has acquired Caliente TV, a Mexican sports broadcasting platform, in a move aimed at strengthening its sports content and expanding its streaming footprint in Latin America. Financial terms of the deal were not disclosed. The acquisition is part of Fox’s broader push into sports streaming, as the company…
Worthington Enterprises acquires Elgen Manufacturing for $93 million
COLUMBUS: Worthington Enterprises (NYSE: WOR) announced Wednesday it has acquired Elgen Manufacturing, a New Jersey-based producer of HVAC components, for approximately $93 million in cash. Elgen, headquartered in Closter, specializes in steel-based ductwork, framing and HVAC parts used in commercial buildings across North America. The company will join Worthington’s Building Products segment, broadening its offerings…
ArcelorMittal acquires Nippon Steel’s stake in Calvert Steel facility, deepens U.S. investment
CALVERT: ArcelorMittal announced Thursday it has completed the acquisition of Nippon Steel Corporation’s 50% stake in AM/NS Calvert, gaining full control of the Alabama-based steelmaking facility. The deal, finalized under the terms of an Equity Purchase Agreement signed in October 2024, rebrands the site as ArcelorMittal Calvert. The facility, originally built by ThyssenKrupp at a…