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UAE, US join hands to spend $100bn in clean energy projects.
?EQT?leads bidding for stake in $9bn tower firm TDF. (Financial Sponsors)
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杜邦 , a provider of chemicals and allied products, terminated the acquisition of 罗杰斯 , a global technology company that specializes in engineered materials that enable high performance and high reliability in EV/HEV, wireless infrastructure, automotive safety and portable electronics, for $5.2bn.
DuPont decided to terminate the deal as the companies have been unable to obtain timely clearance from all the required regulators. DuPont is paying Rogers a termination fee of $162.5m in accordance with the agreement.
AFCO Direct , a premium finance company, completed the acquisition of the insurance premium finance subsidiary of Texas Capital , a bank holding company, for $3.4bn.
?"The sale of BankDirect represents an important milestone for Texas Capital, further enabling us to re-focus our capital and expense base consistent with our strategy of creating the flagship full-service financial services firm in Texas. The sale follows a deliberate process designed to maximize shareholder value, strengthen our balance sheet, simplify our business model and free up incremental resources to be redeployed to our core businesses. BankDirect operates a nationwide business and generates desirable, granular commercial loans with superior credit quality. I want to thank the team at BankDirect for their long-term partnership and solid commitment to building an outstanding franchise resulting in the success of this transaction," Rob C. Holmes, Texas Capital CEO and President.
AFCO Credit was advised by RBC Capital Markets , Truist and Willkie Farr & Gallagher LLP (led by? Greg Astrachan and?Sean Ewen). Texas Capital Bank was advised by 摩根士丹利 , Texas Capital and Cravath, Swaine & Moore LLP (led by? Mark Greene , David Portilla , GJ Ligelis Jr. and Bethany Pfalzgraf ).
Canadian miner Turquoise Hill Resources Ltd decided to delay by a week to November 8 a special shareholder meeting to vote on a proposed takeover by Rio Tinto , following a request from the mining giant, Reuters reported.
Rio Tinto said two key investors agreed to withhold their votes at a meeting to decide on the offer. Pentwater, Turquoise's second-largest shareholder, and SailingStone Capital Partners will also exercise their dissent rights, and Rio will increase the dissent condition under its proposal to 17.5% of issued Turquoise Hill shares from 12.5%.
Turquoise Hill Resources is advised by BMO Capital Markets , 摩根士丹利 , TD Securities , Blake, Cassels & Graydon LLP , Norton Rose Fulbright and Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Adam Givertz). Rio Tinto is advised by 瑞信 , RBC Capital Markets , Rothschild & Co (led by Roger Ewart Smith , Derrick Queen and Karina Danilyuk ), McCarthy Tétrault (led by Shea Small ) and Sullivan & Cromwell LLP (led by Scott Miller ).
UAE, US join hands to spend $100bn in clean energy projects.
The US and UAE have reached an agreement to spend $100bn on clean energy projects with a goal of adding 100 gigawatts globally by 2035, US Secretary of State Antony Blinken said,?DealStreetAsia?reported.
The two governments signed a memorandum of understanding in Abu Dhabi setting out the framework of the deal, Blinken said in a statement.
EQT?leads bidding for stake in $9bn tower firm TDF. (FS)
The Stockholm-based private equity firm is seen as the strongest contender to acquire the 45% TDF stake being sold by Brookfield Asset Management. TDF could be valued at about $8.9bn including debt in any sale,?Bloomberg?reported.?
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