UAE and Greece announce $14.3bn in deals alongside further €15bn investment plan. (Reuters)
The UAE and Greece have announced 18 agreements and commercial partnerships worth €12.75bn ($14.3bn), alongside Abu Dhabi's plans to invest a further €15bn ($16.8bn) in Greece.
The planned investment builds on a €4bn ($4.5bn) joint initiative established in 2022, with potential cooperation spanning energy, infrastructure and healthcare.
BASF raises Evonik takeover offer to $12.5bn. (Reuters)
BASF has increased its takeover offer for German chemicals manufacturer Evonik Industries to €24 ($27) per share, up from approximately €22.15 ($24.86) per share.
The revised offer values Evonik at approximately €11.18bn ($12.5bn), following the company's rejection of BASF's earlier €10.3bn ($11.6bn) bid in September as too low.
Shell and ExxonMobil explore $8bn sale of Infineum. (FT)
Shell and ExxonMobil are exploring an $8bn sale of UK-based chemicals company Infineum, which they own through a 50:50 joint venture.
The sale process has recently launched as Shell seeks to refocus on its core oil and gas operations by divesting non-core assets. Bank of America is acting as financial advisor to the sellers.
EU regulators to decide on Deutsche Boerse's $6bn Allfunds acquisition by November 27. (Reuters)
EU antitrust regulators will decide by November 27 whether to approve Deutsche Boerse's €5.35bn ($6bn) acquisition of fund trading platform Allfunds.
Deutsche Boerse submitted its request for EU approval on October 22. The acquisition supports its strategy to become a major European provider of financial market infrastructure.
Smith & Nephew's merger talks with J&J's orthopaedics division collapse over leadership dispute. (Reuters)
Smith & Nephew held talks to merge with Johnson & Johnson's orthopaedics division, but discussions collapsed over who would lead the combined group.
The negotiations had reportedly reached an advanced stage, with both parties aligned on the main financial terms and transaction structure.
Frasers Group takes control of Hugo Boss with 50.08% stake. (Press Release)
Frasers Group has increased its stake in German apparel brand Hugo Boss to 50.08%, making it a subsidiary of the UK retailer.
The move follows months of stakebuilding and an unsuccessful initial takeover bid. Frasers CEO Michael Murray was appointed Hugo Boss chairman last month.
Dalmore Capital, Apax Partners and Nordic Capital pursue Cinven-owned JLA. (Bloomberg)
Dalmore Capital has expressed interest in acquiring UK commercial equipment supplier and services provider JLA Group from buyout firm Cinven.
Apax Partners and Nordic Capital are also pursuing a potential acquisition of JLA, joining Dalmore among the interested parties.
Moneyfarm rejects eToro takeover bid of up to €300m. (Bloomberg)
European digital wealth manager Moneyfarm has rejected a takeover approach from trading platform eToro valued at between €250m ($280m) and €300m ($337m).
eToro submitted the offer in recent months, but Moneyfarm decided against pursuing a transaction after determining that the proposed valuation was too low.
Armenia's largest lender Ardshinbank weighs London IPO. (Bloomberg)
Armenia's largest lender Ardshinbank is exploring a potential IPO, with London among the listing venues under consideration.
The bank has approached investment banks to evaluate strategic options, while focusing on strengthening its domestic position and expanding internationally.
Swiss drug developer Windward Bio files for US IPO. (Reuters)
Swiss biotechnology company Windward Bio has filed for a US IPO, seeking to capitalise on renewed investor interest in biotechnology listings.
The company has secured up to $365m from investors including OrbiMed, Novo Holdings, Omega Funds and Blue Owl Healthcare Opportunities.
Jefferies, TD Cowen, Piper Sandler and UBS Investment Bank are acting as underwriters for the offering.
