Methanex set to close OCI Global methanol deal on June 27
Methanex Corporation (TSX:MX) (Nasdaq:MEOH) announced that the regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has lapsed. Accordingly, all regulatory approvals required for Methanex to close its previously announced acquisition of OCI Global's international methanol business have been obtained. The transaction is expected to close on June 27, 2025, and remains subject to the satisfaction of customary closing conditions.
Methanex has obtained all necessary regulatory approvals, including under the US Hart-Scott-Rodino Act, to proceed with its acquisition of OCI Global's international methanol business. The transaction is expected to close on June 27, 2025, subject to customary closing conditions. Methanex plans rapid integration to unlock strategic value and welcomes new team members to the company.
"We are pleased to have received regulatory clearance and look forward to closing the transaction and welcoming new team members to Methanex." said Rich Sumner, President and CEO of Methanex. "Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition."
Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol 'MX' and on the Nasdaq Stock Market in the United States under the trading symbol 'MEOH'. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
US pharma bets big on China to snap up potential blockbuster drugs
U.S. drugmakers are increasingly licensing drug candidates from Chinese biotech firms, with 14 such deals worth up to $18.3 billion signed in 2025 so far—up from just two in the same period last year, according to GlobalData. This surge is driven by the need to replace $200 billion worth of medicines set to lose patent protection by 2030. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jun 16, 2025 ) U.S. drugmakers are licensing molecules from China for potential new medicines at an accelerating pace, according to new data, betting they can turn upfront payments of as little as $80 million into multibillion-dollar June, U.S. drugmakers have signed 14 deals potentially worth $18.3 billion to license drugs from China-based companies. That compares with just two such deals in the year-earlier period, according to data from GlobalData provided exclusively to increased pace is expected to continue as U.S. drugmakers look to rebuild pipelines of future products to replace $200 billion worth of medicines that will lose patent protection by the end of the decade, analysts, investors, a banker and a drug company executive told Reuters."They are finding very high-quality assets coming out of China and at prices that are much more affordable relative to perhaps the equivalent type of product that they might find in the United States," said Mizuho analyst Graig total cost of licensing agreements, including low upfront payments and subsequent larger payouts, averaged $84.8 billion in the U.S., compared with $31.3 billion in China over the past five years, according to GlobalData.A licensing agreement grants a company the rights to develop, manufacture, and commercialize another company's pharmaceutical products or technologies in exchange for future target-based, or "milestone", payments while mitigating development share of global drug development is now nearly 30%, while the U.S. share of the world's research and development has slipped 1% to about 48%, according to pharmaceutical data provider Citeline's report in companies have licensed experimental drugs to U.S. drugmakers that could be used for obesity, heart disease and cancer, reflecting abundant Chinese government investment in pharmaceutical and biotech research and small molecules, like oral drugs, have been the most commonly licensed, there has been a notable shift toward novel treatments such as targeted cancer therapies and first-in-class medicines, Jefferies analysts said in a note in May. Chinese biotechs are moving up the value chain by the day. They are... challenging their Western peers," said Macquarie Capital analyst Tony growth is happening even as the U.S. and China have wrangled over tariffs and U.S. President Donald Trump pushes a made in America has cut into traditional mergers and acquisitions, which are down 20%, with only 50 such transactions so far this year, according to data from a third of the assets that large pharmaceutical companies licensed in 2024 were from China, said Brian Gleason, head of biotech investment banking at Raymond James, who estimated such licensing deals would increase to between 40% and 50%."I think it's only accelerating," Gleason Trump administration is currently doing a national security investigation as it weighs if it will impose tariffs on the pharmaceutical one healthcare analyst said licensing deals should continue because the yet to be marketed products are not impacted by tariffs."The law that gives the president the right to impose tariffs applies to goods. It explicitly excludes intellectual property," said Tim Opler, managing director in Stifel's global healthcare May, Pfizer spent $1.25 billion upfront for the right to license an experimental cancer drug from China's 3SBio . That is the largest such deal this year and could be worth up to $6 billion in payments to 3SBio if the drug is Pharmaceuticals in June paid $80 million upfront in a potential $2 billion deal for an experimental obesity drug from China's Hansoh Pharmaceuticals.'WAKEUP CALL'By licensing a drug in development, U.S. and European drugmakers get very quick access to a molecule which would take them longer and cost more to discover or design themselves, analysts say.U.S.-based drug developer Nuvation Bio bought AnHeart Therapeutics in 2024, gaining access to the China-based company's experimental cancer drug taletrectinib, which received U.S. approval last week."We consider our presence in China not only a great avenue for R&D, but we also view it as an inside track on obtaining further assets to grow our company further and find new and better therapies to offer patients," Nuvation CEO David Hung told makes China attractive, said EY analyst Arda Ural, "a fraction of the cost and then multiples of time."Analysts have pointed to large drugmakers strategically securing rights to drugs at lower cost and running efficient early-stage trials in China to obtain important data, paving the way for global trials and potential earlier market entry."It's a little bit of a wakeup call to our industry," said Chen Yu, Managing Partner at U.S.-based healthcare investment firm TCGX.
&w=3840&q=100)
Business Standard
28 minutes ago
- Business Standard
Zee to raise over ₹2K cr from preferential issue of convertible warrants
Zee Entertainment Enterprises (ZEEL) will raise over Rs 2,237 crore from the preferential issue of convertible warrants, as its board of directors on Monday approved the promoters increasing their shareholding in the company. These warrants are proposed to be allotted to Altilis Technologies or Sunbright Mauritius Investments, according to the stock exchange filing. The promoters' shareholding in ZEEL will rise to 18.39 per cent from 3.99 per cent. 'In a second board meeting held later in the day, the board of directors considered the various alternatives discussed by JP Morgan and, after due deliberations, adopted and approved the enhancement of promoter shareholding by issuance of up to 16,95,03,400 fully convertible warrants to the promoter group entities on a preferential basis, at Rs 132 per warrant. The promoters of the company will participate in the fundraising exercise by investing Rs 22,37,44,48,800 (Rs 2,237.4 crore) for the company's next phase of growth, taking the total promoter shareholding to 18.39 per cent. The preferential issue is subject to shareholders' approval,' it said in a statement. Before this, the promoter and promoter group, led by Essel Group's Chairman Emeritus of ZEEL, Subhas Chandra, and his family, held 3.99 per cent of the shareholding in the company, according to the Bombay Stock Exchange (BSE). Its shares closed at Rs 138.25, up by 0.68 per cent, on NSE. Shubham Shree, on behalf of the promoter group, was quoted saying, 'The promoters submitted their desire to enhance their shareholding to the board on 1 May when the stock price was at Rs 106.35; however, they are committed to the company and its business even at this higher price.' The Mumbai-based broadcaster also had another meeting with JP Morgan, an investment bank, it stated in its release, where the latter presented an assessment of the company's growth plans and strategic initiatives and also discussed the market perception of the stock and potential alternatives with the board, ZEEL said. R Gopalan, Chairman, ZEEL, said in a statement that the board had deliberated upon the various alternatives discussed with JP Morgan and conducted a thorough evaluation of the company's growth plans. 'The board believes that the steps being implemented to enhance the promoter shareholding will ensure their added motivation to work in line with the enhanced business plan. The investment by the promoters, coupled with the strong, ambitious growth initiatives planned by the management team, will ensure that 'Z' (the new brand logo) remains well-positioned to accelerate its strategic plans to achieve its targeted aspirations,' he added. This comes a month after the company announced its rebranding process and a new phase of growth backed by its focus on content and technology, and its long-term vision around ZEEL's performance and profitability. These steps follow the company implementing several cost-cutting measures in FY25, after Punit Goenka, Chief Executive Officer (CEO), ZEEL, said in the earnings call for the January–March quarter that there is no room for cost-cutting right now for the expansion of its EBITDA margin. In June, the company also announced a strategic equity partnership with content and technology start-up Bullet, where ZEEL is expected to either invest or acquire a stake in the platform, it had stated in the stock exchange filing. Bullet developed India's first micro-drama application focused on fast-paced, creator-driven content through short-duration vertical format episodes targeted towards younger audiences.
&w=3840&q=100)
Business Standard
35 minutes ago
- Business Standard
Mphasis signs Sixfold deal to boost underwriting through generative AI
Mid-tier IT services company Mphasis has entered into a partnership with Sixfold, a US- and UK-based AI company which provides generative AI tools for insurance underwriters. Mphasis will integrate Sixfold's AI platform to help insurers accelerate their underwriting process, speeding up submission intake and equipping underwriters with the contextual risk insights they need to make faster, more confident decisions. 'By leveraging Sixfold's AI expertise in combination with expertise from and our insurance technology capabilities, we are able to deliver advanced, data-driven automation solutions for global insurers, driving efficiency, accuracy, and innovation across the insurance value chain,' said Srikumar Ramanathan, chief solutions officer, Mphasis. The partnership will help streamline underwriting processes, enhance operational efficiency and drive intelligent decision-making using Sixfold's advanced AI solutions. 'With them, insurers can move quickly, see impact fast, and do it all without adding extra work to their teams. That's a win for everyone involved,' Alex Schmelkin, founder and CEO of Sixfold, said.
