Category: Headlines

Move brings 17 boutique properties under UHM umbrella as group accelerates expansion across key leisure markets United Hospitality Management (UHM), one of the fastest-growing mixed-use and luxury hospitality operators, has officially entered the Indian market with the acquisition of Rosastays, a boutique hotel brand with a strong presence across major leisure destinations. Source:https://www.arabianbusiness.com/industries/travel-hospitality/united-hospitality-management-enters-india-with-rosastays-acquisition

Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS) announced a merger with MindWave Innovations Inc, uniting Apimeds’ late-stage, non-opioid pain-management biologic portfolio with MindWave’s AI-driven Bitcoin treasury, digital asset yield generation, and $NILA-powered ecosystem. The combined company integrates high-growth biotechnology and institutional digital-treasury capabilities, with the merger supported by a simultaneous PIPE of up to $100 million to advance Apimeds’ clinical programs and expand MindWave’s digital asset infrastructure. MATAWAN, N.J.–(BUSINESS WIRE)–(NYSE American: APUS) Apimeds Pharmaceuticals US, Inc. (“Apimeds”), a clinical-stage biotechnology company that completed its IPO in May 2025, today announced that it has merged with MindWave Innovations Inc (“MindWave”; the transaction, the “Merger”). Today, Apimeds and MindWave signed the merger agreement (the “Merger Agreement”) outlining the terms of the Merger, thus paving the way for a dual-growth enterprise spanning advanced biotechnology and institutional digital-asset treasury solutions. The Merger brings together two high-growth industries—biopharmaceutical innovation and digital-asset financial technology—forming a combined entity positioned to pursue diversified revenue streams and accelerate product development. MindWave is a global leader in AI-driven Bitcoin and yield-generation technologies, operating in one of the fastest-growing segments of the digital-asset market. Bitcoin remains the most established and highly valued cryptocurrency, and MindWave’s platform is designed to help institutions securely hold, manage, and generate yield from Bitcoin reserves. MindWave’s three-pronged strategic framework includes: Secure Digital Treasury Wallets for Corporations,AI-Enhanced Bitcoin Yield Generation, andA Validator-Powered Ecosystem supported by the $NILA Token. Together, these capabilities make MindWave one of the first companies to pursue a publicly traded, institutional-focused Digital Asset Treasury (DAT) model. Apimeds focuses on developing non-opioid, biologic-based therapies for pain management. Its lead product candidate, Apitox, is in late-stage clinical development for the treatment of knee osteoarthritis (the “Apimeds Business”). Promptly following the closing of the Merger and pursuant to the Merger Agreement, Apimeds will transfer its assets and liabilities to its wholly owned subsidiary, where the Apimeds Business will continue. Erik Emerson, CEO of Apimeds, commented: “As Apimeds moves toward its Phase 3 clinical trial initiation, we continue to focus on financing and expansion. When I met the leadership team at MindWave and saw the strength and scalability of their business, it became clear this merger represented a unique opportunity. Biotech requires significant capital, and integrating a high-yield digital asset business with strong cash-flow potential will allow us to accelerate our therapeutic programs.” Dr. Vin Menon, Founder and CEO of MindWave, noted: “The NYSE American listing, combined with our three-pronged approach to Bitcoin Treasury infrastructure, refined AI-supported yield capabilities, and a scalable multi-vertical ecosystem powered by the $NILA token, positions MindWave at the forefront of institutional digital treasury management. Joining forces with Apimeds creates a diversified organization designed to drive long-term value and maximize stockholder returns.” ADVISORS E.F. Hutton & Co. (“E.F. Hutton”) is proud to have served as the exclusive M&A advisor to Apimeds and MindWave in connection with the merger, and as the exclusive placement agent for the concurrent PIPE of up to $100 million in financing. E.F. Hutton’s role reflects its commitment to supporting the combined company’s strategic growth across late-stage biotech development and institutional Digital Asset Treasury Solutions. Nelson Mullins Riley & Scarborough LLP acted as legal advisor to Apimeds. Thunder Rock Capital LLC, a division of Finalis Securities LLC, acted as an advisor to MindWave. Duane Morris LLP acted as legal advisor to MindWave. Source: https://www.businesswire.com/news/home/20251201743056/en/Apimeds-and-MindWave-Announce-Merger-Integrating-Biotech-Growth-with-AI-Driven-Digital-Treasury-Yield-Generation-Backed-by-%24100M-PIPE

Lee Leggett becomes Omnicom Oceania chief customer officer; DDB Australia’s bosses step in to lead Clemenger; Priya Patel and Paul Wilson take charge of the newly-formed McCann NZ, Brittney Rigby reports ​Nick Garrett has announced his plans for Omnicom Oceania: In Australia, DDB will be folded into Clemenger BBDO, run by DDB’s local bosses and new Clemenger co-CEOs Sheryl Marjoram and Mike Napolitano.​ Former Clemenger CEO Lee Leggett becomes chief customer officer at Omnicom Oceania, which will see her tasked with strengthening the group’s focus on client experience and integration across Australia and New Zealand. in New Zealand, DDB and FCBwill merge to create McCann New Zealand, run by Priya Patel and Paul Wilson. In Wellington, New Zealand, Clemenger Wellington and FCB Wellington will be merged to become McCann Wellington, operating as part of McCann Group NZ. Local leadership for McCann Wellington will be announced soon. Within Omnicom Media Group, OMD, PHD, Initiative, MediaHub, UM, and Hearts & Science will remain untouched as distinct businesses. ​Nick said, “This is a defining moment for our region. By bringing together the depth, ambition and talent of our people, while simplifying the architecture, we are creating modern, future-fit agencies and capabilities that will deliver world-class creativity and media, smarter data and technology integration, and new levels of effectiveness for brands in Australia and New Zealand. “I want to congratulate Priya Patel, Paul Wilson, Sheryl Marjoram, Mike Napolitano and Lee Leggett on their new roles. Their leadership will play a critical part in shaping the next era of Omnicom Oceania. These changes honour the legacies of our heritage brands while positioning us to unlock even greater opportunity, effectiveness and growth for our clients and our people.”​ Overnight, Omnicom confirmed it will retire the DDB, FCB, and MullenLowe brands and push ahead with BBDO, McCann and TBWA following its $13.5 billion acquisition of IPG. Clients and talent currently sitting within the retired brands will be folded into the brands moving forward on a market-by-market basis, and around 4,000 jobs are expected to go. Sheryl and Mike previously ran DDB in Sydney and Melbourne, respectively. DDB’s Priya Patel and Matty Burton have been in regional CEO and CCO roles since the start of the year, when former AUNZ CEO and chair Andrew Little left the business after more than two decades.​ Clemenger has spent the year bedding in its merger with CHEP and Traffik, transitioning to new leadership under Lee, and cementing its executive team. C-suite leaders including Dani Bassil, Adrian Flores, Anita Zanesco, Gavin McLeod, and Lilian Sor left the business during the merger. Simon Wassef stayed on as CSO but recently resigned to join old boss Dani at M+C Saatchi. Chief creative officer Stephen de Wolf was appointed in June and started at the end of September. He was formerly DDB Group Australia’s CCO, where he worked closely with CEOs Sheryl and Mike. As DDB now folds into Clemenger in Australia, possible conflicts emerge between Volkswagen (which has sat with DDB for more than two decades), Mazda (a CHEP, and now Clemenger),client for almost 40 years), and Porsche (DDB Melbourne); Kmart (Clemenger) and TK Maxx (DDB); and 7-Eleven (Clemenger) and Coles (DDB) given Coles’ fuel business. McCann New Zealand will inherit DDB New Zealand and FCB’s client lists. DDB’s includes McDonald’s New Zealand (in Australia, the account shifted to Wieden+Kennedy after 53 years at DDB), The Warehouse, Samsung, and Goodman Fielder. FCB’s includes One New Zealand, Greencross Health, and Kimberly-Clark. At TBWA, Nick promoted Kimberlee Wells to national CEO following AUNZ CEO Paul Bradbury’s departure. Catherine Harris leads TBWA New Zealand. FCB New Zealand’s Paul Wilson was promoted to a group CEO role in August, and will now transition to set up the McCann brand in the market. Key leadership across retired brands DDB and FCB includes: DDB Group AUNZ CCO Matty Burton; DDB New Zealand CCO Gary Steele, Sydney CCO Matt Chandler, and Melbourne CCO Psembi Kinstan; DDB strategy leads Rupert Price, Matt Pearce, and David McIndoe; FCB CCO Leisa Wall; and FCB CSO Matt Kingston. It is unclear whether HERO’s McCann license will be impacted. Ben Lilley acquired HERO from McCann in Australia to form a separate, independent agency, but it works with McCann globally. Attivo Group-owned 303 MullenLowe in Australia has today rebranded to 303. New Clemenger co-CEO Sheryl Marjoram formerly led McCann in London. Two of Omnicom Oceania’s three creative agencies being run by dual CEOs is a return to a structure it just moved away from within its media business: OMD previously had co-CEOs in Laura Nice and Sian Whitnall. Last month, Laura shifted to the PHD top job, making way for Mark Jarratt to move into a yet-to-be-announced group-level role. In September, Nick told LBB his job — a first-of-its-kind in a significant market; Omnicom is using the Omnicom Oceania structure as a test and could adapt it elsewhere — is to turn a “disjointed jigsaw puzzle” into a “masterpiece.” “My job here, big picture, is to redesign the model and transform us to be ready for the next 10 years,” he said. “It’s a massive job for absolute certainty, but I think it’s also probably the most exciting job in the market. It’s got the biggest opportunity to do something at scale and really redesign something. “We’ve got the best clients. We’ve got the best agencies still, but most of them have been in such dramatic silos in Australia because Omnicom has never existed in Australia. “It was like a disjointed jigsaw puzzle that could turn into a masterpiece, if you can put enough smart people around you and get people excited about creating something and building something that Omnicom has never built in any other market.” The former Deloitte, Colenso, and Clemenger leader added he expects his leaders to prioritise the collective and “a sense of generosity.” “Sometimes you’re gonna have to give something away to get something back,” he said. “If it’s right for our client, that’s the right thing to do.” Source: https://lbbonline.com/news/omnicom-oceania-plan

Nearly a year after first announcing the deal, Omnicom has completed its acquisition of The Interpublic Group of Companies following receipt of all necessary regulatory approvals and satisfaction of the other closing conditions. Omnicom’s portfolio spans media agencies such as OMD and PHD, along with creative networks including DDB, BBDO, and TBWA. IPG’s roster includes FCB, MullenLowe, Initiative, and UM. Together, the merged company will also hold significant PR strength, with firms such as Weber Shandwick, Golin, FleishmanHillard, Ketchum, and Porter Novelli. Details on how the two holding companies’ brands will be structured going forward have not yet been announced. “This is a defining moment for our company and our industry,” said John Wren, Chairman and CEO of Omnicom. “With the completion of the deal, Omnicom is setting a new standard for modern marketing and sales leadership — creating stronger brands, delivering superior business outcomes, and driving sustainable growth. We’re excited about this next chapter. I want to thank our people, clients, and shareholders for the trust they have placed in us.” As previously announced, John Wren will remain Chairman and CEO, Phil Angelastro will continue as EVP and CFO, and Philippe Krakowsky and Daryl Simm will serve as Co-Presidents and COOs. Krakowsky, Patrick Moore, and E. Lee Wyatt Jr. have also joined the Omnicom Board of Directors. The company’s full leadership team will be announced on December 1, 2025. Under the terms of the agreement, Interpublic shareholders received 0.344 Omnicom shares for each share of Interpublic common stock they owned. Legacy Omnicom shareholders own approximately 60.6% of the combined company, and legacy Interpublic shareholders own approximately 39.4%, on a fully diluted basis. The combined company, with a pro forma combined revenue in excess of $25 billion, will trade under the OMC ticker symbol on the New York Stock Exchange. Source: https://www.brandinginasia.com/the-omnicom-ipg-merger-creates-the-worlds-largest-advertising-group/

More than 29,000 customers will now join Bank Australia, following the formal completion of its second bank acquisition this year. Bank Australia has completed its acquisition of Australian Unity Bank and will today (24 November) welcome 29,000 new customers to its fold, taking Bank Australia’s customer base to more than 320,000 people. First announced in November 2024, Bank Australia sought to acquire the banking business of insurance mutual Australian Unity to help it scale into the future and build the bank’s presence. The combined entity now has nearly $17.5 billion in assets and almost 900 employees. The Australian Unity Bank customers can now access Bank Australia’s network of 15 branches across NSW, Victoria, Queensland, and the ACT and greater digital offerings, such as the Bank Australia app. All accounts, including home loans, will now become Bank Australia accounts. Interest rate and benefits such as discounts and fee waivers will automatically migrate to a Bank Australia loan, and automated repayments will continue to work after the transition to Bank Australia. While home loan terms and conditions will be maintained at transition, Bank Australia fees and charges will apply. Bank Australia said it would continue to work closely with its new customers to ensure a smooth transition and support their banking needs. Damien Walsh, Bank Australia managing director, said this acquisition represents a significant milestone in the bank’s strategy to grow its impact and deliver long-term value to customers. “We’re excited to welcome Australian Unity’s banking customers to Bank Australia,” he said. “This acquisition is about creating the scale and capability to deliver an even greater customer experience for our customers into the future. “We’re excited to offer former Australian Unity Bank customers access to our full range of banking products and services, and to continue building a bank that puts customers first.” Australian Unity CEO and group managing director, Rohan Mead, said the transition reflects Australian Unity’s long-standing focus on supporting the wellbeing of Australians. “Bank Australia’s values and customer-owned model align closely with our own, and we’re confident this move will deliver strong outcomes for our banking members,” Mead said. “We thank our members for their loyalty and trust, and we’re pleased to see them join a bank that shares our commitment to member ownership and mutual values.” The Australian Unity Bank acquisition is the second Bank Australia acquisition to complete this year. It acquired Qudos Bank in July, bringing together 300,000 customers and forming a banking group with $18 billion in total assets and nearly 900 employees. The mutual banking space has seen a wave of mergers and acquisitions in the past year. Last week, Summerland Bank and Regional Australia Bank revealed they will proceed with their merger, after members of both customer-owned banks voted in favour at their respective AGMs. In August, Beyond Bank Australia revealed it was exploring a potential merger with Family First Credit Union (trading as Family First Bank). If successful, the move would extend Beyond Bank’s presence in regional NSW, expanding its footprint into areas including the Blue Mountains, Lithgow, Bathurst, Blackheath, and Mudgee. And Auswide Bank also became a wholly owned subsidiary of MyState Limited, while G&C Mutual Bank and Unity Bank finalised their merger to form Unity Bank Limited, effective July 2025. Source: https://www.theadviser.com.au/lender/47845-bank-australia-completes-second-bank-acquisition

TOKYO, JAPAN, October 24, 2025 — Renalys Pharma, Inc. (Headquarters: Tokyo; Representative Director Chaiman & CEO; BT Slingsby; “Renalys”) and Chugai Pharmaceutical Co., Ltd. (Headquarters: Tokyo; President & CEO: Osamu Okuda; “Chugai”) today announced a definitive stock purchase agreement, under which Chugai will acquire Renalys (the “Transaction”). Renalys is advancing sparsentan in Japan; the medicine was initially developed by Travere Therapeutics, Inc. (“Travere”) and is approved in the United States and Europe for the treatment of IgA nephropathy. As part of the Transaction, Chugai will gain exclusive rights to develop and commercialize sparsentan in Japan, South Korea, and Taiwan. Founded to close Asia’s persistent “drug lag,” Renalys develops innovative therapies for chronic kidney disease across Japan and the region. The company has completed primary endpoint data collection in its Japan Phase III clinical trial of sparsentan for IgA nephropathy, with topline results expected in Q4 2025. Renalys has also reached agreements with the Pharmaceuticals and Medical Devices Agency (PMDA) on registrational trial plans for focal segmental glomerulosclerosis (FSGS) and Alport syndrome in Japan. Renalys believes that transferring sparsentan to Chugai, a company recognized for its rare-disease and nephrology expertise, will accelerate access for patients across Asia. BT Slingsby, MD, PhD, MPH, Representative Director, Chairman & CEO, and Co-Founder of Renalys, stated: “Renalys was built to close Asia’s drug lag with a simple promise: patients should not have to wait years for proven therapies. By advancing sparsentan in Japan, we proved that the model works. Partnering with Chugai now scales it—accelerating access across Japan and the region and setting a new standard for how innovative renal medicines reach patients.” Ryutaro Shimazaki, Chief Development Officer of Renalys, added: “Chugai brings scale, speed, and deep know-how in renal disease. Together, we will align development with PMDA expectations, prepare clinicians for adoption, and focus on the practical steps that get sparsentan to patients sooner. Our goal is simple and urgent: convert strong data into real access for people living with IgA nephropathy, FSGS, and Alport syndrome.” Source: https://renalys.com/renalys-pharma-to-be-acquired-by-chugai-pharmaceutical/

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