Sany Group to go public in Switzerland
Sany Group announced that in order to broaden its international financing channels, to meet the company’s international business development needs, further strengthen its global brand influence, and unswervingly promote its internationalization strategy, the company plans to issue global depositary receipts overseas. and listed on the SIX Swiss Exchange. It is reported that Sany also revealed the purpose of this listing, including promoting the internationalization strategy, making full use of capital market support and improving the level of corporate governance. #A Shares
Norton’s $8.6 billion takeover of Avast is blocked, and UK antitrust authorities raise concerns
NortonLifeLock (Norton)’s $8.6 billion acquisition of Avast (AVST.L) hit a snag after Britain’s antitrust watchdog said it would conduct a deeper probe into a proposed cybersecurity industry merger due to competition concerns. NortonLifeLock proposed in August 2021 to buy London-listed rival Avast in a cash-and-stock online deal to create a leader in consumer security software that caters to more than 500 million customers. #Global M&A Market
Investment firm Mill Road urges Big Lots for company sale
Investment firm Mill Road Capital urged the board of discount home chain Big Lots Inc BIG.N to sell the company. Mill Road, which disclosed its 5.1 percent stake in Big Lots, said the sale would maximize shareholder value. Big Lots declined to comment on the sale of the company pushed by Mill Road. #Global M&A Market
e& proposes to increase its stake in Saudi Arabia’s Mobily
Mobily said Emirates telecommunications company e& (ETISALAT.AD) has offered to increase its stake in Saudi Arabia’s Mobily to 50 percent and one share. Mobily is the second-largest telecom operator in Saudi Arabia and the second operator to receive a Saudi GSM license.
TuSimple to sell China business for $1 billion
According to market sources, autonomous driving company TuSimple is selling its business in China and focusing on the US market. The decision comes after it reached an agreement with the U.S. government to restrict Chinese access to data due to U.S. security concerns. A source who confirmed that TuSimple is about to sell its China business in the future said that under strict supervision from China and the United States, TuSimple plans to sell its China business for $1 billion in the future. TuSimple has approached several Chinese investors, including private equity firm Boyu Capital, to find potential buyers. It further stated that after TuSimple solves “security issues” in the future, TuSimple’s future business is expected to develop independently. In this regard, TuSimple responded to the Financial Associated Press in the future: the information is not true.