Thursday, November 21

Tag: mergers

Iberdrola’s Avangrid Ends $4.3 Billion Deal With PNM Resources
2Jan By adminNo Comments
World

Iberdrola’s Avangrid Ends $4.3 Billion Deal With PNM Resources

Updated Jan. 2, 2024 3:55 am ETIberdrola’s U.S. renewables subsidiary Avangrid has ended a merger agreement with power company PNM Resources after rejecting a bid to extend the deadline of the $4.3 billion deal reached in October 2020.The Spanish energy company said Tuesday that Avangrid—which is 81.5%-owned by Iberdrola and houses its U.S. renewable-energy assets as well as electric and natural-gas utilities—terminated the deal after conditions for closing it weren’t met in the timeframe the parties agreed to.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business
2Jan By adminNo Comments
Technology

Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business

Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China.As of the end of December, the closing conditions for the share purchase agreement had yet to be fully satisfied, Baidu said in a filing late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Xenophobia Drives Foes of Nippon Steel’s Deal
1Jan By adminNo Comments
Health

Xenophobia Drives Foes of Nippon Steel’s Deal

Election-year jitters have the Biden administration and a few swing-state members of Congress from both parties parroting union concerns about Nippon Steel’s takeover of U.S. Steel. The United Steelworkers union favored Cleveland-Cliffs’s offer, which was almost 50% lower than Nippon’s $14.1 billion bid. There is no real cause for concern other than xenophobia and the damage it could do to Cleveland-Cliffs’s position as the sole U.S. producer of electrical steel for transformers and electric vehicles. The rest is imported.Nippon’s steelmaking is at least as advanced as U.S. Steel’s, so technology export control isn’t an issue. National security could be a concern if American mills were shutting down due to unfairly subsidized Japanese exports to the U.S. But Nippon never used gimmicks to ...
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‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament
31Dec By adminNo Comments
Money

‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament

Private-equity firms usually drive dealmaking on Wall Street. In 2023, they sat it out.High interest rates put many new deals out of reach. Shaky market conditions made it hard for firms to cash out of current investments. And some of their investors have been pulling back. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Carmakers Are Drowning in Cash
29Dec By adminNo Comments
Money

Carmakers Are Drowning in Cash

Most carmakers are ending the year with lots of cash and lots of worries. Share buybacks are an antidepressant, not a cure, but they are better than nothing.It has been a highly profitable year for the traditional car industry. Production recovered following the microchip-related supply constraints of 2021 and 2022. Having previously been starved of inventory, consumers and fleet owners bought new vehicles despite higher interest rates. Globally, sales are on track to rise 10% this year, according to forecasting firm GlobalData.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia
29Dec By adminNo Comments
World

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia

Suntory Beverage & Food is exiting its nonalcoholic beverage business in Indonesia after 12 years of selling bottled tea, jelly drinks and other products in the Southeast Asian country.The Japanese company will transfer its 75% stake in Suntory Garuda Beverage to Garudafood, it said in a statement on Thursday. After the transfer, Suntory’s main focus in Indonesia will be the health-enrichment product category.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion
28Dec By adminNo Comments
World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion
27Dec By adminNo Comments
World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Bristol-Myers Squibb to Buy RayzeBio for $4.1 Billion
27Dec By adminNo Comments
World

Bristol-Myers Squibb to Buy RayzeBio for $4.1 Billion

Updated Dec. 26, 2023 12:33 pm ETDrug company Bristol-Myers Squibb struck a $4.1 billion deal to buy RayzeBio, in a bet on a re-emerging cancer drug technology. RayzeBio develops radiopharmaceutical drugs, which use targeted forms of radiation that are delivered directly to cancer cells. Earlier products using the technology struggled commercially, but further research led to another wave of promising therapies that can attack tumors while limiting damage to surrounding healthy cells. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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