Here's a quick overview of today's main events:
Samsung SDI is buying a stake in GM's battery business.
RBC and BMO are selling Moneris to Francisco Partners.
Archer is acquiring Wisk Aero and other Boeing units.
Jazz is buying Actio for up to $1.32 billion.
Teledyne is acquiring Varex Imaging for $1.1 billion.
Guotai Haitong wants to delist its subsidiary from the stock exchange.
Meta has launched the local Muse Glimmer model.
Oil prices have risen due to tensions in Hormuz.
Foreign Investments
South Korean company Samsung SDI announced that it will terminate its joint venture with US-based General Motors in Indiana and buy back its 49.99% stake. The financial terms were not disclosed. The company explained the move as a response to weaker-than-expected demand for electric vehicles, and now intends to use the SDI-GM Synergy Cells Holdings unit more flexibly for batteries for electric vehicles and energy storage systems. GM and Samsung SDI also signed an agreement for the joint development of the next generation of prismatic batteries.
Canadian banks Royal Bank of Canada and BMO Financial Group are selling Moneris Solutions to technology investor Francisco Partners. The transaction is valued at two billion Canadian dollars, or approximately $1.44 billion US dollars. Moneris is one of the largest Canadian providers of payment solutions for merchants. For the banks, this represents a release of capital from a technologically intensive business, while Francisco Partners acquires a platform with long-standing relationships in the Canadian payments market.
In aerospace technology, autonomous assets are being transferred from Boeing. Archer Aviation is acquiring electric aircraft manufacturer Wisk Aero, drone manufacturer Insitu, and airspace management services provider SkyGrid. Boeing will receive a nearly five percent stake in Archer for these assets. The deal is significant because Archer gains access to autonomous flight and defense contracts, while Boeing simplifies its portfolio and focuses on core commercial and defense aircraft.
In the pharmaceutical sector, Jazz Pharmaceuticals announced the acquisition of private company Actio Biosciences in a deal worth up to $1.32 billion. Reuters reported that Actia shareholders will receive $820 million upfront and up to $500 million based on regulatory and sales milestones. The goal is to develop an experimental treatment, ABS-1230, for a rare inherited epilepsy called KCNT1, for which there is currently no approved therapy.
Healthcare technology will also be strengthened by Teledyne Technologies, which is acquiring Varex Imaging for $18.90 per share in cash. The transaction is valued at approximately $1.1 billion. Varex manufactures X-ray imaging components for healthcare, security checks, and industry, which will expand Teledyne's portfolio in the areas of sensors and diagnostic technologies.
Consolidation continues on the Chinese financial market. Guotai Haitong Securities has proposed delisting its Hong Kong unit, Guotai Junan International, in a deal worth 28.59 billion Hong Kong dollars, or approximately $3.64 billion US dollars. The offer follows last year's merger of Guotai Junan and Haitong Securities.
Significant events with global impact
The technology sector has been following the new model from Meta Platforms. The company announced Muse Glimmer, a smaller, open-source artificial intelligence model designed to run directly on users' computers. AP and Business Insider reported that the model is intended to be open, capable of handling agent tasks, and should function on a standard PC or laptop with a single graphics card. This is an important signal for the AI economy: part of the computation could shift from expensive cloud centers back to users, which could reduce costs, enhance privacy, and increase pressure on closed models from companies like OpenAI and Anthropic.
Oil prices rose because negotiations between the United States and Iran regarding a peace agreement and the reopening of the Strait of Hormuz have stalled. Brent crude remained near its weekly highs, as the market once again factored in the risk of more expensive transportation, higher insurance costs, and renewed inflationary pressures. Asian stocks were mixed, while investors awaited US inflation data and further signals from the Federal Reserve.
Tradingeconomics.com