L'Oréal Explores Liability Unloading as Genmab Shares Surge on Drug Success
L'Oréal's U.S. subsidiary is exploring options to address talc-related lawsuits by working with legal advisers Weil Gotshal and Ducera. The cosmetics giant is considering ways to unload chemical-related liabilities, though specific details of the potential unloading remain undisclosed.
Genmab's shares surged after announcing positive study results for its blood-cancer drug Epkinly. The Danish company, in partnership with AbbVie, reported that the drug extended the life expectancy of patients with a common type of lymphoma, marking a significant milestone in cancer treatment.
SoftBank-backed DayOne Data Centers is planning to raise up to $5.0 billion in a U.S. IPO, aiming to list its American depositary shares on the Nasdaq by the end of the year. The Singapore-based company's move underscores the growing interest in data center investments.
Berkshire Hathaway increased its stake in Lennar by purchasing an additional $190 million in stock, bringing its total ownership to 12% of the homebuilder. Despite this investment, Lennar's stock fell nearly 7% following the release of a negative report.
New York City lawmakers grilled AI executives and former employees during a hearing on potential guardrails for the industry. Former Anthropic researcher Jacob Coxon reiterated his warnings about the risks associated with AI technology.
KKR has struck a deal to acquire private-capital fund administrator Gen II, reflecting the increasing popularity of private-capital funds as investors seek alternatives to public markets.
The U.S. Supreme Court is questioning oil companies' attempts to shut down climate lawsuits, debating whether local governments can hold energy giants accountable for climate-related harms.
Mattel is facing growing pressure from shareholders, including Ariel Investments, which holds a 5.4% stake, to consider a sale. Ariel Investments argues that Mattel's shares are significantly undervalued in its current public structure.
Electronic Arts bondholders have alleged a $1.4 billion debt default, escalating a dispute over whether the videogame maker must pay them off at a premium following the largest leveraged buyout in history.
Texas Attorney General Ken Paxton has launched an investigation into UnitedHealth Group, seeking evidence related to potential violations of the Texas Deceptive Trade Practices Act.
Centalion, formerly known as Gunvor, has secured a $1.5 billion deal for U.S. gas fields, positioning itself as a major player in the Haynesville basin.
Paramount has named its leadership team for the combined entity post its $81 billion deal with Warner Bros., with David Ellison and Ynon Kreiz set to lead the new company, Skydance.
C.H. Robinson Worldwide has agreed to acquire RXO for approximately $5.8 billion in cash and stock, creating a logistics company with an enterprise value exceeding $25 billion.