The Defence Ministry approved the procurement of military equipment worth Rs 84,560 crore, including new planes, radar systems, torpedoes, and anti-armour munition, to enhance the combat capabilities of the Armed Forces and strengthen maritime surveillance and air defence capabilities.
The delay in FTC approval for Occidental Petroleum's acquisition of CrownRock has pushed the deal's closure to the second half of the year, impacting asset sales and buyback plans, though Occidental's Q4 results exceeded expectations, leading to a 4.9% stock increase.
Manchester United's (NYSE: MANU) stock fluctuated as billionaire Jim Ratcliffe's tender offer was extended until Friday, resulting in an initial 8.7% rise on Tuesday and a subsequent 13% slump as Wednesday marked the last day for investors to participate in the offer, amidst approvals from the Premier League and the Football Association for Ratcliffe's purchase of a 25% stake in the club at $33 a share.
Penn Entertainment (NASDAQ:PENN) is acquiring Wynn Interactive Holdings' mobile sports wagering licenses for $25M, providing access to the New York sports wagering market. Pending regulatory approval, Penn will launch its online betting product, ESPN BET, in New York this year. Despite the potential benefits, PENN shares fell by 4%, while WYNN shares dropped by 2.8% on Monday.
Flame Acquisition Corp. gains stockholder approval for its merger with Sable Offshore Holdings and Sable Offshore Corp., facilitating the creation of Sable Offshore Corp. slated to debut on the NYSE as "SOC" and "SOC.WS" on February 15, 2024, with Flame reporting approximately $62.2 million in its trust account pre-merger.
HighRadius, a leader in Autonomous Finance software, acquired Cforia Software, a prominent provider of Billing and Collections automation, expanding resources and support for over 100 global customers.
The Federal Trade Commission is poised to assess Eli Lilly (LLY) and other drugmakers' ability to secure alternative suppliers amid Novo Nordisk's (NVO) acquisition of Catalent (CTLT) and its plants, potentially raising antitrust concerns if viable alternatives aren't found, as reported by CTFN and Reuters.
Adani Power clarifies submission of resolution plan for Lanco Amarkantak Power acquisition, awaiting communication from Resolution Professional, amidst emerging as winning bidder for Rs 4,101 crore amid Reliance Industries Ltd. and Power Finance Corp. consortium withdrawal from the auction.
CCI approved Zurich Insurance's acquisition of a 70% stake in Kotak Mahindra General Insurance, alongside other transactions involving Interise Investment Managers Limited and Shadowfax Technologies Private Limited.
Australian energy majors Woodside and Santos have ceased discussions on an A$85.7bn ($55.9bn) merger, citing a lack of identified combination benefits and maintaining a disciplined approach to mergers and acquisitions.
