Worthington Industries Buys PTEC Pressure Technology GmbH – Quick Facts

Worthington Industries Inc. (WOR) said Thursday it has acquired Germany-based PTEC Pressure Technology GmbH, a manufacturer of valves and components for high-pressure hydrogen and compressed natural gas or CNG storage, transport and onboard fueling systems. Worthington noted that the acquisition of PTEC adds 11 employees as well as an engineering and manufacturing facility located in Burscheid, Germany, to its global […]

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Reliance Petroleum case | SEBI fines Reliance Industries, Mukesh Ambani, two other entities

Fines of ₹25 crore and ₹15 crore have been imposed on Reliance Industries Ltd (RIL) and Mukesh Ambani, respectively. Regulator SEBI on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines […]

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‘Supply chain shift from China may benefit India’

‘Confidence high on vaccine promise’ India could benefit from the likely shift in global supply chains from China to other economies in the aftermath of the COVID-19 pandemic, according to a survey. The FICCI-Dhruva Advisors Survey conducted this month covered more than 150 companies in India. “[A] major outcome of COVID-19 is the likely shift in global supply chains away […]

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Resolve telecom issues quickly: COAI to Centre

‘Need regulatory support, AGR review’ Telecom service providers expect the government to take immediate steps to resolve the issues of the sector which has played the role of an enabler for other key industry verticals and supported 30-35% of GDP during the COVID-19 crisis, industry body COAI said. COAI director general S.P. Kochhar told PTI that the telecom sector needs […]

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Caesars Entertainment To Sell Caesars Southern Indiana To EBCI For $250 Mln – Quick Facts

Caesars Entertainment, Inc. (CZR), a casino-entertainment company, said Thursday it has agreed to sell the operations of Caesars Southern Indiana to the Eastern Band of Cherokee Indians or EBCI for $250 million, subject to customary purchase price adjustments. The transaction is expected to close in the third quarter of 2021. At the closing of the transaction, EBCI will also enter […]

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ImmunityBio, NantKwest To Merge In All-stock Transaction – Quick Facts

ImmunityBio, a privately-held immunotherapy company, and therapeutics company NantKwest, Inc. (NK) announced Monday that they have entered into an agreement to merge in a stock-for-stock transaction. The combination will create a leading immunotherapy and cell therapy company focused on oncology and infectious disease. Together, ImmunityBio and NantKwest will have a broad, clinical-stage pipeline, including 13 assets in clinical trials and […]

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Philips To Buy Remote Medical Technology Firm BioTelemetry In $2.8 Bln Deal

Dutch consumer electronics giant Philips Electronics NV (PHGFF.PK,PHG) announced Friday its agreement to acquire BioTelemetry, Inc. (BEAT), a U.S.-based provider of remote cardiac diagnostics and monitoring, for $72.00 per share, to be paid in cash upon completion. The deal implies an enterprise value of $2.8 billion or around 2.3 billion euros. Philips will commence a tender offer to acquire the […]

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Volkswagen loses top court case in EU in diesel scandal

The European Union’s top court ruled on Thursday that Volkswagen breached the law by installing on its cars a so-called defeat device to cheat on emission tests and cannot argue it was merely protecting car engines. The scandal known as “Dieselgate” erupted five years ago when the U.S. Environmental Protection Agency found that Volkswagen had installed special software to rig […]

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Integra LifeSciences To Acquire ACell For Up To $400 Mln In Cash – Quick Facts

Medical technology company Integra LifeSciences Holdings Corp. (IART) announced Wednesday it has entered into a definitive agreement to acquire ACell, Inc. for an upfront cash payment of $300 million at closing, subject to customary purchase price adjustments, and cash payments of up to an additional $100 million upon the achievement of certain revenue growth milestones. ACell is an innovative regenerative […]

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Industrial units in Haryana’s Bahadurgarh slowed down by farmers’ protest

With the transportation of raw material and processed goods taking a hit, most are running at less than half their capacity, many others are temporarily shut Hundreds of industrial units in Haryana’s Bahadurgarh, the hub for India’s non-leather footwear manufacturers, are bearing the brunt of the ongoing farmers’ agitation at Tikri. Though a majority of the industrial units in this […]

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