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India's Ambuja Cements to invest $723m for green power production.
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Adobe , an American multinational computer software company, terminated the deal to acquire Figma , a web-first collaborative design platform, for $20bn.
"Figma and Adobe have reached a joint decision to end our pending acquisition. It's not the outcome we had hoped for, but despite thousands of hours spent with regulators around the world detailing differences between our businesses, our products, and the markets we serve, we no longer see a path toward regulatory approval of the deal. We entered into this agreement 15 months ago with the goal of accelerating what both Adobe and Figma could do for our respective communities. While we leave that future behind and continue on as an independent company, we are excited to find ways to partner for our users," Figma.
Nippon Steel Corporation , Japan’s largest steelmaker, agreed to acquire US Steel, an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, for $14.9bn.
“We are excited that this transaction brings together two companies with world-leading technologies and manufacturing capabilities, demonstrating our mission to serve customers worldwide, as well as our commitment to building a more environmentally friendly society through the decarbonization of steel. NSC has long admired USSteel with deep respect for its advanced technologies, rich history, and talented workforce and we believe we can jointly take on the challenge of raising our aspirations to even greater heights. The transaction builds on our presence in the United States and we are committed to honoring all of US Steel’s existing union contracts. We look forward to collaborating closely with the US Steel team to bring together the best of our companies and move forward together as the ‘Best Steelmaker with World-Leading Capabilities’,” Eiji Hashimoto, Nippon Steel Corporation President.
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US Steel is advised by Barclays , Evercore , Goldman Sachs , Milbank LLP , Wachtell, Lipton, Rosen & Katz (led by Josh Cammaker and Jenna E. Levine) and Joele Frank (led by Ed Trissel and Kelly Sullivan). Nippon Steel is advised by Citi , Ropes & Gray LLP and Teneo (led by Robert Mead ).
iliad , an Italian telecommunications company, offered to merge with Italian operations of Vodafone , a British multinational telecommunications company, in a €10.45bn ($11.4bn) deal.
"The market context in Italy calls for the creation of the most innovative telecom challenger, with ability to compete and create value in a competitive environment. We believe that the profiles and complementary expertise of iliad and Vodafone in Italy would allow us to build a strong operator with the ability and financial strength to invest for the long term. NewCo would be fully committed to accelerating the country's digital transformation and especially fiber adoption and 5G deployment, with more than €4bn ($4.35bn) of investment planned over the next 5 years," Thomas Reynaud, iliad Group CEO.
iliad is advised by FinElk .
IBM , an American multinational technology corporation, agreed to acquire StreamSets and webMethods enterprise technology platforms from Silver Lake-backed Software, a German multinational software corporation, for €2.13bn ($2.3bn).
"Together with IBM's watsonx AI and data platform, as well as its application modernization, data fabric and IT automation products, StreamSets and webMethods will help clients unlock the full potential of their applications and data. This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside," Rob Thomas, IBM Senior Vice President, Software and Chief Commercial Officer.
India's Ambuja Cements to invest $723m for green power production.
Indian construction materials maker Ambuja Cements Limited will invest nearly $723m in renewable power projects, Reuters reported.
The investment will be funded internally and is expected to target a capacity of 1k megawatts through solar and wind power projects in Gujarat and Rajasthan, it said in an exchange filing, without providing details on the funding process.
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