The Tesla CEO’s Nevada-based artificial intelligence startup is in talks to raise funding for his newly combined AI company and social media business, in a transaction that would value the company at more than $120 billion.
THE LATEST NEWS ON MERGERS & ACQUISITIONS, CAPITAL MARKETS AND TECH TRENDS
PHOTO: FREEPIK
Elon Musk’s xAI Holdings in talks
to raise $20B from investors
The Tesla CEO’s Nevada-based artificial intelligence startup is in talks to raise funding for his newly combined AI company and social media business, in a transaction that would value the company at more than $120 billion. Read here
Merck in $3.9B deal to buy biotech SpringWorks
The German pharmaceutical has struck a deal to buy the Connecticut-based biopharmaceutical company, as the European group seeks to acquire treatments for rare tumours to boost its cancer drugs business. Read here
PHOTO: MERCK
Deliveroo soars after $3.6B DoorDash approach
Shares in the British meal delivery company jumped 17% in early deals, the first trading session after it said it had received a cash buyout proposal from the California-based food ordering and delivery service. Read here
PHOTO: MISSVAIN
NEWS WORTH NOTING
NEWS WORTH NOTING
Global stocks reject news of import trade collapse
The S&P 500 had a particularly good 5-day streak, rising 6.4%, while early trading in Europe and Japan was robust as investors brushed off a swathe of reports showing dramatic declines in the US import trade. Read here
$28B Toyota Industries rises on Toyota Motor buyout bid
Shares of the Japanese manufacturer were set for their biggest daily jump on record after the automaker said it was considering a potential buyout of the key parts supplier. Read here
India signs $7.4B deal to
buy 26 Rafale fighter jets
New Delhi has inked and agreement with Paris to buy 26 Rafale fighter aircraft for its navy, after the purchase was approved earlier this month by the country’s security cabinet. Read here
Mediobanca in bank M&A war with $7B Banca Generali bid
The Italian investment bank struck back in its fight for independence with an offer for the wealth manager to be financed through its stake in insurer Generali. Read here
Private equity firms target European defence assets
Tikehau Capital, CVC Capital Partners, and Weinberg Capital Partners are ramping up investments in defence sector amid a historic rearmament drive across Europe. Read here
