All articles tagged with #regulatory approvals
Originally Published 20 days ago — by statnews.com
Chinese biotech industry is rapidly advancing, developing drugs faster and more cost-effectively than other countries, potentially leading to a new paradigm in drug discovery beyond traditional target-based methods.
Originally Published 1 year ago — by Financial Times
Donald Trump has announced plans to expedite regulatory approvals for investors spending $1 billion or more in the US, aiming to boost domestic investment through deregulation. This proposal, shared on Truth Social, is part of Trump's broader strategy to enhance US manufacturing by reducing corporate tax rates and cutting regulations, particularly in the oil sector. While the plan has received support from figures like Elon Musk, it has sparked controversy for potentially excluding smaller projects. The move contrasts with President Biden's approach, which has focused on tax credits and subsidies.
Originally Published 1 year ago — by SpaceNews
BAE Systems has received regulatory approvals to finalize its $5.5 billion acquisition of Ball Aerospace, with the deal expected to close in the coming days. Once completed, Ball Aerospace will become a fourth operating sector of BAE Systems Inc., known as Space & Mission Systems, incorporating its employees and Colorado manufacturing facility. The acquisition will enable Ball Aerospace to pursue larger programs and tap into BAE's expertise and global supply agreements, while both companies continue to monitor federal budget uncertainty for fiscal year 2024.
Originally Published 1 year ago — by CoinDesk
The approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. SEC is expected to create momentum for similar regulatory approvals in Asia, with analysts optimistic about the potential for countries like Australia to be among the first to approve such products. While Hong Kong, Singapore, and the UAE have shown interest in becoming crypto hubs, they have not yet seen bitcoin ETFs in their regions. The U.S. approval could prompt these jurisdictions to expedite their regulatory processes for bitcoin ETFs, with Australia leading the way for potential approval in the first or second quarter of 2024.
Originally Published 2 years ago — by VMware News
Broadcom and VMware have received all required regulatory approvals for Broadcom's acquisition of VMware and intend to close the transaction on November 22, 2023. The legal merger clearance has been obtained in multiple countries, and there are no legal impediments to closing under U.S. merger regulations.
Originally Published 2 years ago — by Yahoo Finance
Broadcom is set to close its $69 billion acquisition of cloud computing firm VMWare on Wednesday, after receiving all necessary regulatory approvals, including additional restrictive conditions from China. The deal had faced concerns due to rising tensions between the US and China, but the Chinese regulator's statement ensures that VMWare's server software will work with local hardware and customers can still purchase and use Broadcom's hardware products. Broadcom shares were down over 1% and VMWare shares were down 4.6% following the news.
Originally Published 2 years ago — by Reuters
Odey Asset Management is in talks to move funds and staff to other asset managers as it faces the fallout of sexual misconduct allegations against its founder Crispin Odey. Several major banks, which provided prime brokerage services, have said they would cut ties with Odey's firm. The hedge fund has gated its Brook Asset Management fund and closed another. Lawmakers on Britain's Treasury Select Committee wrote to the FCA on Wednesday to question the regulator's supervision.
Originally Published 2 years ago — by Financial Post
TD Bank and First Horizon have terminated their merger agreement due to a lack of clarity on regulatory approvals. TD will pay First Horizon $200 million on top of a $25 million reimbursement fee. The merger would have made TD the sixth-largest bank in the US by assets. The termination could have broader repercussions for TD's future partnerships and deployment of excess capital.
Originally Published 2 years ago — by Reuters
TD Bank has called off its $13.4 billion acquisition of First Horizon Corp due to regulatory uncertainty. TD will pay $200 million to First Horizon, in addition to a $25 million fee reimbursement. The collapse of the deal further spooked already shaky sentiment towards U.S. regional banks. TD agreed to buy First Horizon in February last year to expand its presence in the United States.