Philip Morris Holland Holdings B.V., an affiliate of Philip Morris International Inc. (PMI), a New York-based tobacco company on Monday announced completion of the offer to the shareholders of Swedish Match AB following its decision to waive the acceptance level condition and to acquire all shares in Swedish Match that have been tendered in the offer. Shares tendered in the […]

Waste Management Inc. (WM) announced Tuesday that it has agreed to acquire a controlling interest in Avangard Innovative’s U.S. Business. The financial terms of the deal were not disclosed. The transaction is expected to close in late 2022, subject to the satisfaction of customary closing conditions, including regulatory approvals. The newly-formed company will operate as Natura PCR, which is expected […]

Tesla CEO Elon Musk, who is tangled in a legal battle with his efforts to buy Twitter, has subpoenaed Twitter co-founder and former CEO Jack Dorsey to collect documents regarding the buyout deal. Dorsey, who stepped down from the CEO role last year and left the board in May this year, had announced his support for Musk’s $44 billion acquisition […]

Canada’s Toronto-Dominion Bank (TD.TO,TD) announced Tuesday its definitive agreement to acquire investment bank Cowen Inc. (COWN) in an all-cash transaction valued at $1.3 billion, or $39 for each share of Cowen stock. In pre-market activity on Nasdaq, Cowen shares were gaining around 6.8 percent to trade at $37.91. The transaction is expected to be modestly accretive to TD’s 2023E adjusted […]

Vista Outdoor Inc. (VSTO), a manufacturer of outdoor sports and recreation products, announced Wednesday that it has entered into a definitive agreement to acquire Irvine, California-based Fox Racing for $540 million. The deal also has the potential for an additional $50 million earnout based on Fox Racing’s financial performance, achieving certain EBITDA targets. Fox Racing provides performance motocross, mountain bike […]

Ice Cream maker Ben & Jerry’s reportedly filed a lawsuit against parent and British consumer giant Unilever to stop the sale of its Israeli business to a local license-holder Avi Zinger. The company alleged that the decision was made without the approval of its independent board. The judge reportedly denied Ben & Jerry’s application for a temporary restraining order against […]

Chubb Limited (CB), a property and casualty insurance company, announced Friday that it has completed its acquisition of Cigna Corp.’s (CI) certain life, accident and supplemental benefits businesses in Asia-pacific in a $5.36 billion deal. The acquisition includes the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific […]

Regeneron Pharmaceuticals, Inc. (REGN) announced Thursday its intent to purchase French drug major Sanofi’s (SNYNF,SNY) stake in the Regeneron and Sanofi collaboration on Libtayo (cemiplimab), providing Regeneron with exclusive worldwide development, commercialization and manufacturing rights to the medicine. Libtayo, which was invented using Regeneron’s proprietary VelocImmune technology, is a fully human monoclonal antibody targeting the immune checkpoint receptor PD-1 on […]

What was the trigger for the sheer drop in shares? Is the Metaverse not profitable? The story so far: The shares of Meta Platforms, the parent company of social media giant Facebook, crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. The crash came after Meta on Wednesday announced its earnings […]

A similar amendment has been issued for licence issued to BSNL for providing satellite phone calls and data services. The government has mandated storage of international calls, satellite phone calls, conference calls and messages made over normal networks as well as on the internet for a period of at least two years, according to circulars issued by the telecom department. […]