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China sets up $47.5bn third fund to boost semiconductor sector.
BlackRock’s $20bn ETF is world’s largest bitcoin fund. (FS)
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Hess Corporation shareholders approved the New York-headquartered oil company’s pending acquisition by 雪佛龙 for $53bn, even as the timeline for when the deal may close has become increasingly murky with the companies locked in a dispute with Exxon Mobil. A majority of outstanding Hess shares voted in favor of the merger agreement, though the company did not immediately provide a tally of the vote.
“We are very pleased that the majority of our stockholders recognize the compelling value of this strategic transaction and look forward to the successful completion of our merger with Chevron,” John Hess, CEO.
Hess is advised by 高盛 (led by Brian Haufrect and Suhail Sikhtian ), J.P. 摩根 , Wachtell, Lipton, Rosen & Katz (led by Martin Lipton) and FGS Global (led by Paul Verbinnen ). Chevron is advised by Evercore (led by Bill Anderson and Dan Ward), 摩根士丹利 (led by Greg Weinberger), Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Scott Barshay and Kyle Seifried) and Shearman & Sterling LLP .
康菲石油公司 , a provider of oil exploration and production services, agreed to acquire Marathon Oil Corporation , an independent oil and gas exploration and production company, for $22.5bn.
"This is a proud moment to look back on what we achieved at Marathon Oil. Powered by our dedicated employees and contractors, we built a top performing portfolio with a multi-year track record of peer-leading operational execution, strong financial results and compelling return of capital to our shareholders - all while holding true to our core values of safety and environmental excellence. ConocoPhillips is the right home to build on that legacy, offering a truly unique combination of added scale, resilience and long-term durability. With its premier global asset base, strong balance sheet and laser focus on operational excellence, ConocoPhillips' track record of long-term investments, differentiated shareholder distributions and active portfolio management are unmatched. When combined with the global ConocoPhillips portfolio, I'm confident our assets and people will deliver significant shareholder value over the long term," Lee Tillman, Marathon Oil Chairman, President and CEO.
ConocoPhillips is advised by Evercore and Wachtell, Lipton, Rosen & Katz (led by Gregory Ostling and Zachary Podolsky). Marathon Oil is advised by 摩根士丹利 and Kirkland & Ellis .
Consortium led by private equity firms Permira and Blackstone , completed the acquisition of Adevinta , a European online classifieds company, for €13.6bn ($14.8bn).
"We believe our offer provides attractive value and certainty for shareholders, whilst helping Adevinta take advantage of its long-term growth opportunities in a rapidly changing landscape. Access to flexible capital in a private context will ensure Adevinta remains competitive in this environment. We believe we can drive forward Adevinta’s strategy in the interest of the company and its stakeholders," Lionel Assant, Blackstone Head of European Private Equity.
Adevinta was advised by 花旗 (led by Wilhelm Schulz ), J.P. 摩根 , Cleary Gottlieb Steen & Hamilton LLP , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates , 爱德曼 (led by John Kiely). Financial advisors are advised by Shearman & Sterling LLP (led by George Karafotias ). General Atlantic was advised by Weil, Gotshal & Manges LLP . Blackstone was advised by Simpson Thacher & Bartlett LLP (led by Geoffrey Bailhache and Atif Azher ). Aurelia BidCo was advised by ABG Sundal Collier (led by Are Andersen ), 高盛 (led by Sam Britton and Mark Sorrell ), 富而德律师事务所 (led by Markus Paul and Dr. Olga Stürmer ), Latham & Watkins (led by Jayanthi Sadanandan and Ben Wright ), Wikborg Rein (led by Per Anders S?hle and Dag Erik Rasmussen ), Fogel & Partners (led by Birgitta Henriksson ) and ZYNK AS (led by Marte Ramuz Eriksen ). Schibsted is advised by 摩根士丹利 (led by Dominique Cahu and Erik Tregaard ), Clifford Chance (led by Jennifer Chimanga and Jeroen Thijssen ) and Wiersholm (led by Sverre Sandvik ). eBay is advised by LionTree (led by Jake Donavan ), Thommessen and Wachtell, Lipton, Rosen & Katz .
China sets up $47.5bn third fund to boost semiconductor sector.
China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of CNY344bn ($47.5bn), DealStreetAsia reported.
President Xi Jinping has stressed the need for China to achieve self-sufficiency in semiconductors. That need has increased after the US has imposed a series of export control measures over the last couple of years, citing fears that Beijing could use advanced chips to boost its military capabilities.
BlackRock’s $20bn ETF is world’s largest bitcoin fund. (FS)
BlackRock ’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing almost $20bn in total assets since listing in the US at the start of the year, Bloomberg reported.?
The exchange-traded fund held $19.68bn, dethroning the $19.65bn Grayscale Bitcoin Trust (Btc) , data compiled by Bloomberg show. The third largest is the $11.1bn offering from Fidelity Investments.
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