Category: Headlines

Merck’s (NYSE:MRK) ~$10B acquisition of Verona Pharma (NASDAQ:VRNA) has been granted approval by the High Court of Justice of England and Wales. Under terms, MSD, the trade name of Merck outside the US and Canada, will acquire Verona Pharma for $107 per American Depository Share, with each one accounting for eight Verona ordinary shares. The deal closing is effective Oct. 7. Verona shares will no longer be traded as of market close Monday. Source: https://seekingalpha.com/news/4502146-merck-acquisition-verona-pharma-approved-court

Aware Super, one of Australia’s largest pensions, confirmed plans to merge with smaller rival TelstraSuper to form a A$235 billion ($156 billion) fund. The two pensions have signed a binding Heads of Agreement, and will merge toward the end of the current financial year, according to a statement from Aware Super Tuesday. The funds, which have a combined 1.3 million members, said in July they were exploring a tie-up. Regulators have been pushing funds in Australia’s A$4.3 trillion pension industry to merge and seek economies of scale to offset costs. A report from Mercer in March forecast Australia to have 47 funds by 2029, down from the 89 currently regulated by the Australian Prudential Regulation Authority. Mercer expects that number to drop to about 20 by 2049. Source: https://www.bloomberg.com/news/articles/2025-10-06/two-australian-pensions-confirm-merger-to-form-156-billion-fund

In a merger between two subcutaneous drug delivery companies, Halozyme Therapeutics is paying $750 million in cash to acquire Elektrofi. The deal will give Halozyme technology capable of turning drug substance into microparticles to enable under-the-skin injections at high concentrations. Called Hypercon, the Elektrofi technology has attracted the likes of argenx, Eli Lilly and Johnson & Johnson. Aside from the $750 million upfront payment, the deal also includes milestone payments valued at $50 million each contingent on three separate product approvals. “This acquisition marks a pivotal step in Halozyme’s evolution,” Halozyme CEO Helen Torley said in an Oct. 1 statement. “With Elektrofi’s Hypercon technology, we are expanding and diversifying our drug delivery technology offerings to the biopharma industry and positioning Halozyme for continued long-term revenue growth through Elektrofi’s licensing, royalty revenue business model.” Biologic drugs are often limited by low concentrations, requiring large volumes to deliver effective doses, Torley said during an investor call Wednesday. With Elektrofi’s technology, concentrations of 400 mg/mL to 500 mg/mL, or four to five times higher than standard industry options, can be achieved. This “can make all the difference to enabling more drugs to be able to be delivered in a small volume at home,” she said. Halozyme has been touting the rationale for a strategic M&A deal in the past year or so, and “there could not be a better fit” than Elektrofi, Torley said. Hypercon appears to be highly complementary to Halozyme’s own Enhanze subcutaneous drug delivery technology, which has been utilized in 10 approved products. While Enhanze is a great fit for high-volume products that can be given in a physician’s office or in some cases, in a patient’s home,Hypercon enables drugs to be given in lower volumes and opens up more products to be delivered in homes, Torley said. Growing the number of products that are able to be delivered subcutaneously means more potential partnerships and hence revenues, the Halozyme chief said. Hypercon brings a suite of patents lasting into the 2040s, supporting long-term revenue growth, she noted. By year-end 2026, Halozyme expects that two of Elektrofi’s partner products will have entered the clinic, with potential royalties flowing in as early as 2030. The development and commercial milestone payments to Elektrofi linked to those two products could be worth $275 million, according to Torley. Citing confidentiality agreements, Torley declined to offer more details on the two products other than that they’re both de-risked mechanisms of actions being utilized in existing blockbusters. As for Elektrofi, Halozyme’s knowledge on regulatory approvals for drug delivery technology—and its insights on development and manufacturing requirements—could help accelerate the acquired company’s advancement in the future, Torley added. In what Torley described as another “attractive avenue for commercialization,” Halozyme sees an opportunity to pair Hypercon with its own small-volume autoinjectors, especially in immunology, neurology and other chronic diseases, “where at-home administration is the future of care.” The two companies also have the same business model, relying on licensing milestones and royalty payments without much need for large capital investments in manufacturing infrastructure, clinical development and commercialization. “This capital-efficient approach will allow us to continue to concentrate resources on innovation and on partner success,” Torley said. The two companies’ boards have unanimously approved the transaction, which is expected to close by the end of this year following antitrust reviews. As Torley said on the call, the entire Elektrofi team will join Halozyme post-closing. Although the deal marks the combination of two subcutaneous drug delivery companies, Torley said Halozyme is “confident that this transaction will clear any regulatory review.” Source: https://www.fiercepharma.com/pharma/halozyme-buys-subcutaneous-drug-delivery-peer-elektrofi-900m

SYDNEY, Sept 30 (Reuters) – Australia’s Seven West Media (SWM.AX), opens new tab said it would merge with Southern Cross Media (SXL.AX), opens new tab to create a A$417 million ($273.97 million) metropolitan and regional media group to better compete with global streaming platforms. Seven West shares, controlled by mining and media billionaire Kerry Stokes, were up 7% on Tuesday to A$0.15, while Southern Cross stock was 6.6% higher. Stokes’ Seven Group holds about 40% of Seven West. Under the deal, Seven West shareholders would receive 0.1552 Southern Cross Media shares for each share held. The offer values Seven West shares at A$0.13 each, slightly below the stock’s A$0.14 closing price on Monday. The combined group will be worth A$417 million based on the current market capitalisations of both entities. Southern Cross owns major radio networks and podcast platforms across Australia, while Seven West holds metropolitan and regional television licences. Southern Cross announced the sale of its remaining regional television businesses to Seven West for up to A$24 million in May. MERGER COMBINES RADIO AND TV ASSETS Southern Cross shareholders will own 50.1% of the merged group while Seven West will hold 49.9%, the companies said. “Southern Cross is a much better business with an audio focus and going to buy old world media assets like television and print businesses” said Gabriel Radzyminski, founder of activist investor Sandon Capital which owns 11.2% of Southern Cross. “They are adding different businesses to theportfolio which from a Southern Cross perspective makes it worse.” Sandon is trying to vote the Southern Cross board out at the company’s annual meeting due in November. A Southern Cross spokesperson said the company would engage with all of its investors on the bid, which was backed by both groups’ boards. Free-to-air television in Australia, like all major markets, has faced severe revenue and earnings pressure from streaming giants like Netflix (NFLX.O), opens new tab, Paramount Skydance (PSKY.O), opens new tab and Walt Disney (DIS.N), opens new tab. MERGER TO COUNTER STREAMING GIANTS “We have both (Southern Cross and Seven West) been on the record as being substantial advocates of consolidation,” Southern Cross CEO John Kelly said. “It needs to happen, we need to take the mantle and really fight back against the global behemoths.”The deal requires 75% support from Seven West shareholders at a meeting that will be held in the first quarter of 2026, the companies said, once the deal receives regulatory approvals. Communications and competition regulators, as well as the Australian Securities Exchange, must sign off on the transaction. Seven West said that the board unanimously recommended that its shareholders to vote in favour of the merger, with all directors also pledging to support the deal. Seven West’s current CEO Jeff Howard will lead the combined entity, the broadcaster said. Source: https://www.reuters.com/en/australia-media-groups-unveil-274-million-merger-they-battle-streaming-giants-2025-09-30/

Verona Pharma (NASDAQ: VRNA) shareholders have approved the company’s proposed $10 billion acquisition by Merck (NYSE: MRK). The transaction, announced on July 8, 2025, values Verona at $107 per American Depositary Share (ADS), with each ADS representing eight ordinary shares. The acquisition, structured as a scheme of arrangement under English law, received overwhelming shareholder support with 99.49% approval at the Court Meeting and 99.51% approval at the General Meeting. The transaction is expected to close on October 7, 2025, subject to final Court sanction at a hearing scheduled for October 6, 2025. Verona shareholders approved Merck’s $10B acquisition at $107/ADS, expected to close October 7 following court approval. The overwhelming shareholder approval of Merck’s acquisition of Verona Pharma marks a critical milestone for this substantial transaction. With 99.49% of voting shares supporting the scheme and 99.51% approving the necessary administrative changes, shareholders have delivered a resounding endorsement of the $10 billion deal valued at $107 per ADS. This acquisition represents significant value for Verona shareholders. Each ADS represents eight ordinary Verona shares, and the transaction has now cleared a major hurdle in the UK’s two-step acquisition process. The remaining step is purely procedural – the High Court of Justice of England and Wales must sanction the scheme on October 6, with the transaction expected to close the following day. The transaction’s structure as a scheme of arrangement under English law provides tax and timing efficiencies compared to traditional tender offers. The executive compensation package also received strong support with 81.19% approval, indicating shareholder satisfaction with management’s handling of the transaction. For Merck, this acquisition aligns with their strategy to expand their respiratory disease portfolio, an area where Verona has established specialized expertise. Once completed on the expected date of October 7, Verona shareholders will receive their consideration promptly, with payments occurring between October 8-14. Source: https://www.stocktitan.net/news/VRNA/shareholders-of-verona-pharma-approve-proposed-acquisition-by-088bpcz5xng2.html

Great Southern Bank and P&N Group have signed a memorandum of understanding (MoU) to explore a merger which would create one of the largest customer-owned banking entities in the country. The merger would bring together Great Southern Bank’s footprint across Queensland, New South Wales and Victoria with P&N Bank’s footprint in Western Australia. P&N Bank also owns BCU Bank in Northern NSW and southeast Queensland, which would also be incorporated into the merged entity. The merged entity would become one of Australia’s largest customer-owned banks, with total assets of around $30 billion. It would operate out of dual head offices in Perth and Brisbane, alongside regional offices in Coffs Harbour, Sydney, and Melbourne. P&N Group chair Gary Humphreys believes the merger would deliver benefits for customers, employees, and communities. He said: “We have been deliberate in our choice of partnering with Great Southern Bank for this potential merger opportunity. We believe that our customers will benefit from being a part of one of Australia’s leading customer and community-focused banks. “Great Southern Bank is a financially strong Australian customer-owned bank with a solid reputation and shared values. The prospect of enhancing our shared commitment to face to face customer service and the personal touch our customers love, is an exciting one for our employees and our customers.” Great Southern Bank chief executive Paul Lewis (pictured, left, alongside P&N Bank chief executive Andrew Hadley) added: “A merger with P&N Group gives us the scale to continue investing in our people and communities, ensuring a relevant, resilient, and sustainable bank that meets the needs of current and future generations of Australians.” Source: https://www.mpamag.com/au/news/general/great-southern-bank-pn-group-announce-merger-talks/550388

TUALATIN, Ore., Sept. 17, 2025 /PRNewswire/ — SAM Medical, a leading provider of pre-hospital emergency medical products, is pleased to announce the acquisition of TyTek Medical, part of the TyTek Group. TyTek Medical is a globally known, leading provider of chest decompression needles. The acquisition of TyTek Medical marks a significant expansion of SAM Medical’s proprietary offering of emergency medical products, further solidifying its leadership position in the emergency medical market. “I am confident the acquisition by SAM Medical will provide our customers and suppliers continued success with the same confidence in quality and customer service they’ve come to trust,” said Chris Tyler, President and CEO of TyTek Group. “The acquisition of TyTek Medical strengthens our ability to deliver a comprehensive range of solutions for emergency medical professionals,” said Jim Seidel, CEO of SAM Medical. “TyTek’s strong reputation for high-quality, life-saving products aligns perfectly with our commitment to support first responders in their most critical moments. This acquisition better positions us to set the standard in the markets we serve.” The TyTek Medical operations will be moved to Tualatin and leverage the first-class team assembled there. The global reach of SAM Medical will broaden customer support for this best-in-class line of chest decompression needles. About TyTek Medical TyTek Medical designs and manufactures compact pre-hospital emergency medical supplies for trauma care. Their proven line of emergency medical products allows first responders to administer life-saving trauma care, stabilizing patients until they can be transported. About SAM Medical Founded by Dr. Sam and Cherrie Scheinberg, SAM Medical has a distinguished history of revolutionizing emergency medical care products for the trauma management field. As a Board-Certified Orthopedic Surgeon and Vietnam War-tested trauma surgeon, Dr. Scheinberg pioneered many cutting-edge and life-saving products over the years, including the widely known SAM® Splint. The company also is well known for its SAM® XT Extremity Tourniquet and SAM® IO Intraosseous Access System, among other innovative products. Based near Portland, Oregon, SAM® Medical is at the forefront of developing proprietary medical products that are vital for saving lives. SAM® products have been trusted globally for more than 40 years by a wide array of caregivers supporting emergency medical professionals, wilderness explorers, sports medicine specialists, security forces and pre-hospital emergency providers. The company’s innovative approach to medical device engineering has made them a key player in the emergency medical industry. Innovations include the SAM® Splint, SAM® XT Extremity Tourniquet, SAM® IO Intraosseous Access System, SAM® Chest Seal, SAM® Junctional Tourniquet (SJT), SAM® Pelvic Sling and ChitoSAM™. SAM Medical is a wholly owned subsidiary of Tri-Tech Forensics, Inc. SOURCE SAM Medical Source: https://www.prnewswire.com/news-releases/sam-medical-expands-emergency-medical-offering-with-strategic-acquisition-of-tytek-medical-302559671.html

Peak Rare Earths, a company based in Australia, said it had approved the takeover of Shenghe Resources by a Chinese rare earths producer. The decision was made to choose certainty over a more lucrative but conditional U.S. bid. Shenghe Singapore will purchase all shares of Peak that it does not own at A$0.443 per share. This value is A$195 ($129.9 millions) for the miner. The Chinese company holds a stake of about 19.7% in the Australian miner. The approval came after General Innovation Capital Partners, a U.S.-based company, made a non-binding bid of A$240m. rejected The bid was rejected earlier on Tuesday due to a lack of clarity regarding due diligence and execution. Shenghe has said that it will not support the proposal of GICP. Shenghe is a partly state-owned company raised Its offer, which was made earlier in the month, increased by over 23% mid-May . This would allow it to control Peak’s Ngualla Project in Tanzania, which is one of the largest deposits of neodymium & praseodymium(NdPr), crucial for electric vehicles. Shenghe is expanding its presence in Australia’s rare-earths sector. In 2022, Shenghe purchased nearly 20% of Peak and signed a contract to buy Ngualla products that same year. Canberra is examining the possibility of a deal. Price floor Support critical mineral projects and position yourself as an alternative supplier to China. The peak share price rose by 3.6%, to A$0.435 at 0313 GMT. This is the highest it has been in over two years. (source: Reuters) Source: https://energynews.oedigital.com/mining/2025/09/16/peak-rare-earths-australias-rare-earths-company-accepts-a-130-million-shenghe-bid-rejects-a-higher-us-offer

A Singapore-based holding company is taking over Indonesian retail giant PT Mitra Adiperkasa Tbk, which runs hundreds of stores in the Philippines including Planet Sports and Foot Locker outlets.The Philippine Competition Commission (PCC), which reviews mergers and acquisitions, cleared the deal after finding no risk of reduced competition. The buyer, Pacific Universal Investments Pte. Ltd., is acquiring shares in Jakarta-based PT Mitra from PT Satya Mulia Gema Gemilang, which holds a 51 percent controlling stake, the company’s regulatory filings in Indonesia showed. PT Mitra has a regional footprint of 3,832 stores across seven ASEAN countries, with 247 outlets and 21 exclusive brands in the Philippines alone. Its subsidiaries include MAP Active Philippines (Foot Locker, Planet Sports, New Balance, Converse, Sketchers) and Mapple Philippines Inc., which sells Apple products. In a decision dated Aug. 12, 2025, regulators said the firms are not direct rivals and that other established retailers provide enough competition. The approval was issued under the Philippine Competition Act, which requires PCC to vet major deals that could affect consumers. Source: https://insiderph.com/singapore-firm-buys-indonesian-retailer-that-owns-foot-locker-planet-sports-outlets-in-the-philippines

The purchase of AACG’s three facilities – a combined 379 beds – brings Opal HealthCare’s portfolio to 142 care communities nationwide, including 56 in Victoria. The three homes are: Phillip Island Grove Care Community in Cowes, 150km south of Melbourne, with RADs up to $575,000Mount Eliza Botanica Care Community on the Mornington Peninsula, with RADs up to $1.9 millionKew Botanica Care Community, 5km east of the Melbourne CBD, with RADs up to $2 million Founded in the 1960s by Keith and Betty Matthies, AACG was among the pioneers of purpose-built aged care in Melbourne. Their son, John Matthies, later became Managing Director and continued to expand the family legacy. Opal HealthCare CEO Rachel Argaman OAM welcomed AACG residents, families and staff into the fold. “We’re privileged to be entrusted with the extraordinary legacy of Australian Aged Care Group,” she said. “We’ll bring the best of our two organisations together to meet the needs of ageing Australians and provide the care, services and lifestyle options they not only expect, but want to enjoy through all the stages of ageing.” Expansion in overdriveOpal HealthCare is 50% owned by private equity firm Pacific Equity Partners and Singaporean investment group G. K. Goh Holdings. With their backing, the operator has adopted one of the most aggressive growth strategies in the sector. March 2024: Acquired BlueCross’ 31 homes in Victoria, also marking its entry into home care.May 2025: Purchased the five luxury homes of Cranbrook Care.Current pipeline: Multiple new builds underway in Sydney (Narwee, St Clair, St Ives) and Melbourne (Brighton, Caulfield).The retirement living connectionOpal is also investing in integrated precincts that combine aged care with retirement living. Croydon Grove Care Community in Melbourne (121 beds) co-located with Aveo’s Mingarra Retirement Living community.Epping Grand Care Community in Sydney (132 beds) due to open November 2025 across six floors of Levande’s 28-storey vertical village, The Cambridge.With the AACG deal complete, Opal has cemented its position as the country’s biggest aged care provider – and shows no sign of slowing its acquisition drive. Source: https://www.theweeklysource.com.au/acquisitions/opal-healthcare-powers-ahead-with-triple-victorian-acquisition