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Borouge draws $80bn in demand for its IPO.?
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Canadian communications and media company Rogers Communications said it will not proceed to close its proposed $21bn purchase of Shaw Communications until it reaches an deal with the competition bureau or the competition tribunal gives its verdict.
Rogers also signaled that it is open for a settlement with the bureau but said it does not agree with the bureau's conclusions for rejecting the deal and will contest the ruling,?Reuters ?reported.
Shaw Communications is advised by CIBC World Markets, TD Securities, Burnet Duckworth & Palmer, Davies Ward Phillips & Vineberg, Dentons and Wachtell Lipton Rosen & Katz . Financial advisors are advised by Osler Hoskin & Harcourt . Rogers Communications is advised by Bank of America, Barclays, Cravath Swaine & Moore , Goodmans and Torys. Financial advisors are avised by Davis Polk & Wardwell , Latham & Watkins and McCarthy Tetrault.?
LANXESS, a specialty chemicals company, and Advent International, a private equity investor, agreed to acquire engineering materials business from Royal DSM, a corporation active in the fields of health, nutrition and materials, for €3.7bn ($4bn).
“LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments - for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries," Matthias Zachert, LANXESS CEO.
LANXESS is advised by Rothschild & Co and Stibbe . Royal DSM is advised by JP Morgan.
Royal DSM, a business conglomerate, agreed to merge with Firmenich, a fragrance and flavor maker, to create DSM-Firmenich in, a $3.7bn deal.
"The combination of DSM and Firmenich is transformational, and brings together two culturally aligned and iconic businesses, each with over 125 years' heritage of innovation. Our shared purpose and common values, combined with our highly complementary capabilities gives me confidence we can accelerate our growth further through innovation and new creations. I am confident that for all stakeholders of the future DSM-Firmenich business, the most exciting times are still to come," Patrick Firmenich, Firmenich Chairman.
Royal DSM is advised by Centerview Partners, JP Morgan, Allen & Overy , Walder Wyss and FTI Consulting. Debt financing was provided by JP Morgan. Firmenich is advised by BDT & Co, Goldman Sachs, Bar & Karrer , Oberson Abels, Stibbe and Brunswick Group.
GlaxoSmithKline agreed to acquire Affinivax, a clinical-stage biopharmaceutical company, for $3.3bn.
“The proposed acquisition further strengthens our vaccines R&D pipeline, provides access to a new, potentially disruptive technology, and broadens GSK’s existing scientific footprint in the Boston area. We look forward to working with the many talented people at Affinivax to combine our industry-leading development, manufacturing, and commercialisation capabilities to make this exciting new technology available to those in need," Hal Barron, GSK Chief Scientific Officer.
Affinivax is advised by JP Morgan.?
Borouge draws $80bn in demand for its IPO.?
Borouge, a petrochemicals company, attracted demand of $80bn for its IPO as retail investors snapped up shares despite volatile global markets,?DealStreetAsia ?reported.
The company, owned by Abu Dhabi National Oil Company and Borealis, has attracted orders of $63bn from institutional investors.
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