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NEW YORK/LONDON, Nov 8 (Reuters) – U.S. drugmaker Pfizer has (PFE.N), opens new tab clinched a $10 billion deal for obesity drug developer Metsera (MTSR.O), opens new tab, capping a fierce biotech bidding war between the New York-based pharma giant and Danish rival Novo Nordisk (NOVOb.CO), opens new tab. Metsera accepted a sweetened offer from Pfizer late on Friday, citing U.S. antitrust risks in Novo’s bid that it had previously called superior. The Danish obesity drug behemoth said on Saturday it would exit the race. The bidding war win hands Pfizer a way into the lucrative obesity drug market, even if Metsera’s treatments remain years from hitting the market. It marks a blow for Novo as it tries to claw back lost ground against U.S. rival Eli Lilly (LLY.N), opens new tab. TWISTS AND TURNS IN A BIOTECH BIDDING WAR Pfizer appeared to have locked up the deal in September before Novo jumped in last week with an unsolicited offer, sparking a fight for a coveted asset in the growing weight-loss market. Pfizer is trying to gain a toehold in obesity to overcome past in-house stumbles in developing weight-loss drugs. Pfizer has agreed to pay $86.25 per share in cash, a premium of 3.69% to Metsera’s Friday close, Metsera said in a statement. The offer includes $65.60 per share in cash and a contingent value right entitling holders to additional payments of up to $20.65 per share in cash. Novo Nordisk on Saturday said it would not be making an increased offer. “Following a competitive process and after careful consideration, Novo Nordisk will not increase its offer to acquire Metsera,” the Danish drugmaker said in a statement. Novo added that it is advancing its own pipeline of treatment options for obesity, and that it would “continue to assess opportunities for business development and acquisitions … that further its strategic objectives.” A source close to Novo said that its last unsuccessful bid had been the “maximum value” of Metsera and that the firm remained confident in its own obesity drug pipeline. The deal was never “do or die” for Novo. “This was always a bolt-on acquisition for Novo,” the person said. The escalating M&A game sent Metsera’s shares surging over the last week. From just before Novo stepped in with its bid through Friday’s close, Metsera shares gained nearly 60%, sending its market value to $8.75 billion. For a time, it appeared Novo had the inside track. Novo has been trying to recover its once-commanding position in obesity drugs that it lost to Eli Lilly. Metsera, in its Friday statement, said Novo’s proposal presented “unacceptably high legal and regulatory risks” compared to the proposed merger with Pfizer, citing a call from the U.S. Federal Trade Commission to discuss the risks of a transaction with Novo. The regulator sent a letter earlier this week to Novo and Metsera, saying their proposed deal ran the risk of violating U.S. antitrust laws. Novo said in its statement that it believed that the structure of its offer was “compliant with antitrust laws”. In a statement, Pfizer said it was pleased to have reached a revised agreement with Metsera, and expects to close the merger soon after Metsera’s November 13 shareholder meeting. ‘GAME OF THRONES’ STYLE BIDDING WAR FOR METSERA Bernstein analyst Courtney Breen said the $10 billion price rested on optimistic assumptions about the future performance of Metsera, saying Pfizer would need to assume $11 billion in revenue by 2040, nearly double Metsera’s current projections. She pointed to growing scepticism around long-term GLP-1 pricing, which could compress margins. Metsera’s board recommended its shareholders approve the amended Pfizer offer. The biotech company currently loses money and analysts expect additional losses while its drugs are still in development. The bidding war between Pfizer and Novo lifted the price from Pfizer’s $7.3 billion offer in September. Former Pfizer research-and-development chief John LaMattina told Reuters the battle was reminiscent of Pfizer’s 2000 hostile takeover of Warner-Lambert for $90 billion in an effort to gain control of Lipitor, a cholesterol-lowering drug. “While this is a smaller deal, Pfizer must believe that Metsera’s pipeline is key for its future,” he said. Analysts and investors pointed to the unusually fierce fight to gain control of Metsera, whose early-stage obesity treatments remain unproven but could be key in a market some analysts estimate will hit $150 billion by early next decade. “This is a Game of Thrones-level of play,” Peter Kolchinsky, managing partner at RA Capital, a top-20 Metsera shareholder, before the final bid was accepted. Metsera’s experimental obesity drugs, MET-097i, a GLP-1 injectable, and MET-233i, which mimics the pancreatic hormone amylin, are projected to reach $5 billion in combined peak sales, according to Leerink Partners analyst David Risinger. Source: https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-sweetens-offer-metsera-bidding-war-against-novo-bloomberg-news-reports-2025-11-08/

Billionaire businessman David Teoh’s $1.7 billion buyout of Singaporean telecoms group M1 is facing a major new hurdle after the takeover target’s biggest customer asked the country’s regulator to allow it to tear up its contract as a condition for allowing the deal to proceed. Tuas is a mobile and broadband provider spun out of Teoh’s TPG Telecom business when it merged with Vodafone in 2020. The billionaire is the company’s executive chairman and, in August, announced the company would acquire M1, a rival owned by investment giant Keppel. However, M1 is embroiled in a worsening dispute with its largest customer, Liberty Wireless, which buys access to its mobile infrastructure. Liberty Wireless and its subsidiary Circles.Life want M1 to be forced to renegotiate the contract, a move that would significantly cut into the company’s earnings. The matter is now before the High Court of Singapore. The disclosure of the filing sent Tuas shares diving last month. In a submission to the Infocomm Media Development Authority, which oversees the industry in Singapore, Liberty Wireless is arguing that it should be allowed to terminate or renegotiate its contract with M1 as a condition for allowing the transaction to proceed. It argues that the combination of M1 and Tuas’ Simba brand could create an uneven playing field. In a statement, Circles.Life said it had requested the regulator allow it to renegotiate or exit its contract with M1 and urged it to “take strong action in protecting the competitiveness of the Singapore market”. “Given the merged entity will control 77 per cent of the wholesale market and have a postpaid retail market share exceeding 38 per cent, the need to retain competition for consumers is a central focus of this regulatory process,” Circles.Life said. “We firmly believe that if necessary protections are not put in place, Singaporean consumers will suffer.” Tuas’ acquisition comes at a fraught time for the industry. Singtel is under significant scrutiny over its ownership of Optus after a failure of its Australian network left three people dead from not being able to call Triple Zero. Hundreds of others were unable to call the emergency number during an outage that is now the subject of a parliamentary inquiry. Communications Minister Anika Wells has ordered Singtel to engage independent external advisers to scrutinise the outage. Former NBN Co director Kerry Schott will review how the company manages Triple Zero calls, while the Australian Communications and Media Authority is separately investigating the failure. Tuas’ buyout of M1 would bring together Singapore’s third and fourth-largest mobile operators and challenge Singtel and StarHub, the second most popular. To buy M1, Tuas raised $385 million from institutional investors and $50 million from retail shareholders at $5.15 a share in August. Tuas, in which Teoh has a 32 per cent stake, had its shares jump to $8.32 in September. Since then, they have slid to $6.90, where they closed on Friday. The company has long been a favourite among fund managers, who are betting Teoh can recreate the successful growth of TPG in the Singaporean market. Tuas did not respond to requests for comment. Some analysts are increasingly sceptical about the acquisition, particularly if M1 is forced to renegotiate its contract with Liberty Wireless. The contract is significant because, as analysts from Singaporean bank DBS told clients, the bulk of M1’s profits come from its Circles.Life brand. “Our channel checks indicate that Circles.Life contributes up to 50 to 60 per cent of M1’s earnings before interest, tax, depreciation and amortisation and up to 60 to 80 per cent of M1’s net profit, despite comprising just 15 to 25 per cent of M1’s service revenue,” DBS analyst Sachin Mittal wrote. “We conclude that there is substantial pressure … due to intense competition. With consumer revenue shrinking each quarter, we believe M1’s market value could diminish with more delay in sector consolidation.” The Singaporean regulator must approve the deal, and has asked the industry to provide its views about the effects on competition. M1, which did not respond to requests for comment, has previously said it rejects Liberty Wireless’ demand that it enter into “good faith negotiations” to change the mobile network services agreement entered into in 2019. M1 was founded in 1994 as MobileOne and has more than 2 million mobile customers. Once the deal closes, Tuas will control 38 per cent of the postpaid market – almost equal to Singtel. However, the larger company has almost a two-thirds share of the prepaid mobile market. Source: https://www.afr.com/technology/teoh-s-1-7b-singapore-takeover-play-faces-fast-mounting-roadblocks-20251109-p5n8v5

Kimberly-Clark has placed an ambitious bet on a troubled counterpart, agreeing to buy out Johnson & Johnson’s consumer health spinout Kenvue for $48.7 billion. While the deal creates a consumer health conglomerate that the companies expect will generate annual revenue of $32 billion, it also brings concerns for Irving, Texas-based Kimberly-Clark, as Kenvue’s top-selling product, Tylenol, faces an uncertain future. Another issue clouding the transaction is Kenvue’s responsibility for talc litigation outside of the U.S. and Canada. As for Tylenol, President Donald Trump has made unfounded claims that the pain-relief medicine has been linked to autism when used during pregnancy. Meanwhile, Kenvue is contesting a petition for the FDA to include a notice on its label warning pregnant women that use of Tylenol can increase the risk of “developmental problems” for their children. “We reviewed this transaction in the same way that we run the business—with incredible rigor, thoughtfulness and discipline,” Kimberly-Clark CEO Mike Hsu said during a conference call when asked about the talc and Tylenol issues. “The board carefully considered all the risks and all the opportunities. We had multiple sessions with the board with the world’s foremost scientific, medical, regulatory and legal experts. Going through that process multiple times, I think the work affirmed that this is a generational value creation opportunity for both companies.” Kenvue CEO Kirk Perry added that his company “stands firmly behind the science and the safety of our products.” As part of the deal, Kenvue investors receive $3.50 per share, as well as 0.14625 of Kimberly-Clark shares for each Kenvue share held at closing. The total consideration to Kenvue investors is $21.01 per share based on the closing price of Kimberly-Clark shares from Friday, the companies explained. The buyout gives Kenvue a value of roughly $48.7 billion, according to the Monday press release. Upon close of the deal—which is expected to come in the second half of next year—Kimberly-Clark shareholders will to own roughly 54% of the combined company, while Kenvue shareholders receive 46%. By mid-morning on Monday, Kenvue’s share price increased by 15% while Kimberly-Clark’s shares were down by 13%. The buyout reverses Kenvue’s skid this year, in which its share price had fallen by 33%. Source: https://www.fiercepharma.com/pharma/kimberly-clark-buys-out-kenvue-487b-consumer-health-merger

Italian energy giant Eni and Malaysian national energy behemoth Petronas on Monday signed a binding agreement to establish a 50:50 joint venture to manage certain key high-impact upstream assets in Indonesia and Malaysia.The new entity NewCo will manage 14 assets in Indonesia and five in Malaysia. Future plans for the joint venture also include the development of at least eight new projects and the drilling of 15 exploration wells, with the aim of exploiting approximately 3 billion barrels of oil equivalent of discovered reserves and unlocking an estimated 10 billion boe of unrisked exploration potential. NewCo will operate as a financially self-sufficient entity, expected to be established by 2026, which plans to invest more than $15 billion over the next five years. “By leveraging existing production assets and developing material initiatives in both the Kutei basin and in Malaysia, we expect to deliver over 500,000 barrels of oil equivalent per day in the mid-term,” commented Eni chief executive Claudio Descalzi. Upstream earlier reported that initial production from the proposed joint venture is expected to come from Eni’s under-development Kutei North Hub project offshore Indonesia. “This historic partnership between Petronas and Eni is envisaged to set a new benchmark for more efficient, cost-effective and responsible upstream development,” said Petronas chief executive Tengku Muhammad Taufik. “Adopting this innovative and proven business model reinforces Petronas’ firm commitment to support national and regional energy aspirations, as it paves the way for us to deliver greater and more sustainable value to our customers, host nations, the greater upstream sector, as well as our stakeholders.” The joint venture supports both companies’ broader gas aspirations and complements Petronas’ other established businesses in Indonesia outside of the joint venture scope, enabling new opportunities for growth and innovation in the sector, added the Malaysian company. The co-venturers noted that NewCo would focus on gas projects — both new and existing — including the Kutei basin, an area considered relatively low-risk and high-potential thanks to existing production, transport and liquefaction infrastructure and a mature geological understanding of the subsurface. Recent milestones include the Geng North discovery and the approval of the Geng North–Gehem integrated development (Northern Hub), both in the Kutei basin.  The assets included in the transaction will retain their current operating set-up, with a strong focus on health, safety and environment, and on time-to-market. Eni noted the creation of a NewCo with Petronas brings to life a new energy player with a key role in Asia Pacific, particularly in the burgeoning liquefied natural gas market. Subject to the necessary regulatory approvals in Malaysia, Indonesia and other relevant jurisdictions, as well as partners’ consent requirements and/or pre-emption rights, the new joint venture company is expected to be established in 2026. The agreement signed on 3 November formalised a process that commenced with a memorandum of understanding in February and the framework agreement that was signed in June during Energy Asia 2025 in Kuala Lumpur.The NewCo applies the principles of Eni’s satellite model, establishing dedicated, financially self-sufficient entities designed to accelerate industrial growth and value creation — which the company already implemented in previous transactions with Vaar Energi in Norway, Azule Energy in Angola and Ithaca Energy in the UK. Source: https://www.upstreamonline.com/field-development/petronas-and-eni-merger-creates-new-energy-player-with-focus-on-gas-lng/2-1-1895138

The merger of South Korean shipbuilders HD Hyundai Heavy Industries and HD Hyundai Mipo has been approved by shareholders, paving the way for the launch of the combined company, HD Hyundai Heavy Industries, on December 1. The merger plan passed with 98.54 per cent and 87.56 per cent approval respectively from shareholders attending the extraordinary general meetings of each company on October 23. Both companies announced their intention to merge in August, with aims to secure advanced technologies, and expand their market presence, among others. South Korea’s Fair Trade Commission approved the merger in September, determining it would not impact competition as it was between affiliates. The integrated company anticipates the merger will significantly enhance its competitiveness, particularly in the defence sector. The company plans to expand its defence market offering and increase orders for special-purpose vessels by combining HD Hyundai Heavy Industries’ naval shipbuilding expertise with HD Hyundai Mipo’s facilities and resources. It added that it also aims to integrate research and development capabilities to reduce development risks and costs and respond faster to environmental regulations. The combined entity plans to achieve sales of KRW37 trillion ($26.8 billion) by 2035, including KRW10 trillion in the defence sector, nearly doubling the KRW19 trillion recorded in 2024. An HD Hyundai Heavy Industries official stated, “Shareholders have also recognized the necessity and strategic effectiveness of this merger.” Source: https://www.bairdmaritime.com/shipbuilding/shareholders-approve-merger-of-hd-hyundai-heavy-and-hd-hyundai-mipo

Life sciences group Thermo Fisher has sealed an all-cash takeover of drug trial software maker Clario in a deal that values the technology group at up to $9.4bn. The acquisition gives Thermo Fisher access to a platform that is playing a critical role in managing the clinical data essential to drug trials. Clario’s software has been deployed across 26,000 trials playing a role in 70 per cent of US drug approvals. As part of the deal, Thermo Fisher will pay Clario’s private equity owners just under $8.9bn upfront in cash and an additional $525mn, largely dependent on performance milestones being hit, the Massachusetts-based life sciences group said on Wednesday. The deal is one of the biggest full private equity exits of the year, generating a huge payday for Clario’s co-controlling investors Stockholm-based private equity group Nordic Capital and Luxembourg-based Astorg Partners, which created it from a merger of two software companies in 2021. The Financial Times first reported that Thermo Fisher was nearing a deal on Tuesday. As drug trials increase in complexity and the number reach an all-time high, driven by a surge in innovation, the acquisition of Clario will allow Thermo Fisher to better serve its pharmaceutical and biotech client base with a platform that provides data essential to the regulatory approval process. Thermo Fisher has historically been an active acquirer but it has focused on smaller deals in recent years. The deal is Thermo Fisher’s biggest acquisition since 2021 when it bought contract research organisation PPD in a deal worth $17.4bn. Marc Casper, Thermo Fisher’s longtime chief executive, said Clario was “very complementary to what we do today” and would increase the life sciences group’s “large presence in software that serves our biopharma customers”. Underpinning the deal was “the digital transformation that’s going on in clinical research using these technologies and software to streamline the drug approval process”, said Casper. Clario’s platform “ultimately means better returns for pharma companies and more innovative medicines for patients”, he added. The deal, which is expected to close by the middle of next year, is a big coup for Clario’s private equity backers. Until recently they had been considering a public listing for the group in a dealmaking market where sponsors are struggling to exit assets. Clario’s current owners Nordic and Astorg oversee €34bn and €23bn of assets under management, respectively. Clario also counted Novo Holdings and Cinven as minority investors. In 2022, Nordic sold medical diagnostics group The Binding Site to Thermo Fisher for $2.6bn. The acquisition comes amid a volatile period for Thermo Fisher and the wider healthcare sector. Shares in Thermo Fisher dropped earlier this year as investors fretted over the impact of US President Donald Trump’s cuts to the National Institutes of Health on its sales, but they have since rallied. Thermo Fisher shares are up 6 per cent this year, giving it a market capitalisation of $210bn, as of Tuesday’s close. WilmerHale provided legal counsel to Thermo Fisher, while Evercore and Latham & Watkins advised Clario. Source: https://www.ft.com/content/2d12fd44-dd56-4c77-a9b8-ca20c277bb66

In a significant development for the pharmaceutical industry, the Competition Commission of India (CCI) has given its approval for Torrent Pharmaceuticals’ proposed acquisition of J B Chemicals and Pharmaceuticals . This decision marks a crucial step forward in the consolidation process within the Indian pharma sector. Implications of the DecisionThe CCI’s green light for this takeover is noteworthy, as it comes with certain conditions attached to the transaction. While the specific details of these conditions have not been disclosed, such stipulations are typically aimed at ensuring fair competition in the market and preventing any potential monopolistic practices. Industry ImpactThis acquisition could potentially reshape the competitive landscape in the Indian pharmaceutical industry. Torrent Pharma, already a significant player in the market, stands to strengthen its position further with the addition of J B Chemicals and Pharmaceuticals to its portfolio. Next StepsWith the CCI’s conditional approval in place, the next phase will likely involve Torrent Pharmaceuticals and J B Chemicals and Pharmaceuticals working towards meeting the stipulated conditions. The companies will need to navigate these requirements carefully to successfully complete the acquisition process. As this story develops, stakeholders in the pharmaceutical industry will be keenly watching how this merger unfolds and its potential impact on market dynamics, product offerings, and competitive strategies in the sector. Source:https://scanx.trade/stock-market-news/corporate-actions/torrent-pharmaceuticals-issues-corrigendum-for-6-842-80-crore-open-offer-to-j-b-chemicals-shareholders/18531257

Samsung Electronics finalizes Xealth acquisition for digital health app Xealth’s platform permits physicians and care teams to order, deliver and monitor digital health tools from the EHR. Consumer electronics giant Samsung Electronics announced that it has concluded its acquisition of Xealth, a digital health prescription platform that helps doctors prescribe digital health apps. Samsung signed an agreement to acquire Xealth back in July. Xealth will continue its operations under its existing brand, and its leadership team will remain in place. Xealth integrates digital health offerings into the clinical workflow, allowing health systems to improve patient care and drive clinical efficiency. According to the company, the offerings include multimedia patient education, digital clinical assessments, remote patient monitoring programs, virtual care referrals and other ancillary services that help prepare, assess and support patients before, during and between appointments. Xealth’s Digital Care SMART on FHIR app allows physicians and care teams to order, deliver and monitor digital health tools from the EHR, with clinical decision support that matches patients to pertinent answers. The app can be downloaded from the EHR’s app stores and configured by the health system team to launch directly in the provider’s charting workflow. According to the company, the integration provides Xealth the ability to leverage data in the EHR to suggest and automatically enroll patients into various programs. “Samsung and the Xealth team will engage, learn and support health systems, consumers and digital health partners in creating a healthcare ecosystem that aims to improve the health of everyone,” Dr. Hon Pak, senior vice president and head of digital health team, mobile eXperience business of Samsung Electronics, said in a statement. ​​Mike McSherry, CEO and cofounder of Xealth, asserted that the company’s mission is to reinforce the bond between medical care teams and their patients through familiar technologies. “That driving force is supported and propelled through Samsung in a way that will bring truly connected care and add fresh context to the patient experience in a way not possible before,” McSherry said in a statement. “Together with Samsung and our network of healthcare leaders, we will design a bridge between home health monitoring and clinical decision-making, with provider workflows and the patient-provider relationship at the core.” THE LARGER TREND In 2024, South Korean-based medical AI provider Lunit signed a three-year supply contract with Samsung Electronics. The deal was for the integration of Lunit’s two chest X-ray AI solutions, Lunit INSIGHT CXR and Lunit INSIGHT CXR Triage, into Samsung’s line of premium X-ray devices. The AI-integrated X-ray devices were initially rolled out in the United States, Canada and Europe. In 2021, AI developer VUNO closed a deal with Samsung Electronics to incorporate its AI-enabled chest X-ray diagnostic solution with Samsung’s premium mobile digital radiograph system. VUNO’s Med Chest X-ray, which was added to Samsung’s mobile digital radiograph system, was also integrated into its GC85A premium ceiling type digital radiography system The deal allowed Samsung Electronics to provide an advanced system that integrates AI technology into its key premium X-ray devices. In March, Xealth announced a strategic investment from Morningside Ventures. The funding was used to boost Morningside’s digital health portfolio and expand Xealth’s footprint within health systems by helping them to manage and deploy their digital health formularies more effectively. In 2024, Xealth announced that the Froedtert & The Medical College of Wisconsin (MCW) health network leveraged its digital health platform to engage select patient populations with Season Health, a clinical nutrition provider. Via Xealth’s digital health platform, the Froedtert & MCW offered Season Health’s scalable, clinically driven nutrition services to employee and patient populations, with a focus on patients with diabetes. The collaboration aims to improve clinical outcomes by integrating nutrition as a crucial element of chronic condition care. Source: https://www.mobihealthnews.com/news/samsung-electronics-finalizes-xealth-acquisition-digital-health-app

Hino Motors, a truck unit of Toyota Motor, alongside Daimler Truck subsidiary Mitsubishi Fuso Truck and Bus, have outlined plans to consolidate their production facilities in Japan. The move is a preparatory step towards their planned merger and the formation of a new holding company, Archion. The consolidation process will reduce the number of domestic truck production sites from five to three, with operations focusing on the Kawasaki Plant in Kanagawa Prefecture, the Koga Plant in Ibaraki Prefecture, and the Nitta Plant in Gunma Prefecture. As part of this restructuring, Mitsubishi Fuso will shutter its Nakatsu plant in Aikawa, and Hino will transition its Hamura plant in Tokyo to Toyota. Joint investments in next-generation technologies are also on the agenda for Hino and Mitsubishi Fuso, with backing from Toyota and Daimler Truck, each securing a 25% stake in Archion. The integration of operations under Archion is expected to be completed by April. Archion’s leadership has been confirmed, with Karl Deppen of Mitsubishi Fuso set to take on the role of CEO. Hetal Laligi will step in as CFO, and Satoshi Ogiso, currently president of Hino Motors, will become the chief technology officer. Deppen said: “With the strong brands Fuso and Hino, we will provide superior products and solutions for our customers and their needs. Archion will implement an effective governance model to build trust by promoting transparency, compliance and improving financial performance.” The merger is set to leverage Hino’s medium- and heavy-duty truck expertise with Mitsubishi Fuso’s focus on light-duty vehicles. The aim is to create a synergy that will lead to more competitive products, cost-efficient operations, and quicker time-to-market for new launches. The companies intend to reallocate savings from integration and improved efficiencies towards investments in the CASE domain (Connected/Autonomous & Automated/Shared/Electric). Additionally, Archion plans to develop a range of products across all zero-emission vehicle (ZEV) segments, drawing on the technological prowess and scale of the Toyota and Daimler Truck network. Ogiso commented: “By combining the strengths of all four companies, we will accelerate the development of CASE technologies and shape the future of commercial mobility. To achieve this, we will foster a corporate culture that values mutual learning and respects diversity.” Source: https://www.just-auto.com/news/hino-motors-mitsubishi-fuso-japan/?cf-view

The transaction will see Toro shareholders gain exposure to IsoEnergy’s growing uranium portfolio in Canada and the United States. IsoEnergy (TSX:ISO,NYSE American:ISOU) is set to acquire Australia’s Toro Energy (ASX:TOE,OTC Pink:TOEYF) in an all-share deal that will consolidate two uranium developers into a single diversified platform as global nuclear demand surges and uranium prices continue to strengthen. The merger brings Toro’s 100 percent-owned Wiluna uranium project in Western Australia into IsoEnergy’s development pipeline, adding a large, scoping-stage asset to the company’s holdings that already include the high-grade Hurricane deposit in Canada’s Athabasca Basin and several past-producing US mines. Once combined, the pro forma company will hold total measured and indicated resources of 55.2 million pounds U3O8 and inferred resources of 4.9 million pounds. “The Wiluna uranium project strengthens our portfolio with a large, previously permitted asset in a top-tier jurisdiction at a time when global nuclear demand is accelerating,” said Philip Williams, IsoEnergy’s CEO and Director. Toro’s Wiluna project, which comprises the Centipede-Millipede, Lake Way, and Lake Maitland deposits, sits about 30 kilometers south of the town of Wiluna and represents one of Western Australia’s most advanced undeveloped uranium assets. The merger will also broaden IsoEnergy’s presence in Australia, which ranks first globally in uranium resources and was among the top five producers in 2024. Toro Executive Chairman Richard Homsany said the deal provides Toro shareholders the opportunity to be part of a larger, leading uranium company listed on the TSX and NYSE. Following the transaction, Toro shareholders will hold about 7.1 percent of IsoEnergy’s fully diluted shares and will gain indirect exposure to IsoEnergy’s assets in Canada and the US, including the Hurricane deposit in Saskatchewan and the company’s Utah-based projects. The merger comes amid a uranium market revival driven by renewed global interest in nuclear power as a clean energy source. The World Nuclear Association’s 2025 Fuel Report projects uranium demand to rise by roughly 30 percent by 2030 and to more than double by 2040, as nations expand reactor fleets to meet decarbonization goals. Pending approval of the scheme by Toro shareholders, expected in early 2026, the Australian company will be delisted from the ASX, while IsoEnergy’s shares will continue trading on the NYSE American and TSX. The company noted that an eventual ASX listing for IsoEnergy may be considered but is not a condition of the transaction. In a separate announcement last month, IsoEnergy also launched its 2025 US exploration program focused on its uranium projects in southeast Utah. The initiative includes drilling ten rotary holes totaling 15,000 feet at the Flatiron claims near the historic Tony M mine, as well as fieldwork at the Daneros and Sage Plain projects. Source: https://investingnews.com/isoenergy-acquires-toroenergy/