The crowd continues to discuss the $7.3 billion bid for Australia-based infrastructure owner DUET Group from Hong Kong-based Cheung Kong Infrastructure. This bid poses national security concerns, according to analysts and Sentifi financial crowd. Stay tuned to Sentifi to monitor the development of the talks and the sentiment of the crowd.
DUET Group: Bid potentially gets blocked by Australian goverment
DUET Group owns a suite of major energy infrastructure assets around Australia. The government is known to knock back Chinese bidders due to national security concerns about a China state-owned company owning vital infrastructure. Granted that Cheung Kong Infrastructure is not state-owned, but its owner Li Ka-shing has links to senior government officials in China.
ReNeuron Group Plc.: Shares jump 22 percent on positive outlook
The company’s experimental stem cell therapy has produced encouraging data as three out of 21 patients achieved improvement in their motor function after treatment. The company plans to test the treatment in a larger study.
Humana Inc. & Aetna Inc.: U.S. attorney advocates against Humana-Aetna merger
The merger between two of the largest insurers in the U.S. has met with more resistance as a U.S. Justice Department attorney told a federal judge the merger would break antitrust law. The merger would reduce competition in Medicare Advantage and Obamacare exchange businesses. Back in July, the Justice Department filed a lawsuit against the merger on antitrust grounds.
Banca Paschi Siena: Take-up of a debt swap offer totals $1.11 billion
The ailing, yet Italy’s third largest, bank still needs to raise $5 billion by the end of the year to avert the risk of being wound down and potentially lead to a collapse of Italy’s banking sector. The bank is aiming to net up to €1.5 billion from the conversions of subordinated bonds into shares. It is looking to raise the rest of the cash via a private placement to one or more anchor investors and a share sale on the market. Unfortunately, its plan is at risk due to political uncertainty stemmed from the referendum defeat and the resignation of Italy Prime Minister Matteo Renzi.
Ironshore: To be sold to Liberty Mutual
Shanghai-based Fosun International, the Chinese owner of Ironshore, has agreed to sell Ironshore to U.S. Liberty Mutual for $3 billion. Liberty Mutual acquired Ironshore as part of its focus on growing its specialty lines operations. Ironshore is one of the top 10 excess and surplus lines insurers in the States, and it had gross premium written in 2015 of $2.2 billion.
Vossloh: Acquires Rocla Concrete Tie for $117 million
German transportation technology manufacturer Vossloh has acquired U.S.-based concrete sleeper manufacturer Rocla Concrete Tie to strengthen its core rail infrastructure business. Rocla produces concrete sleepers for plain track and turnouts, and it has several plants in the U.S. and Mexico. It will boost Vossloh’s market position in North America considerably, according to Vossloh CEO Hans Schabert.
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