Foreign investment

Mustang Bio Reports Full-Year 2023 Financial Results and Recent Corporate Highlights

Retrieved on: 
Monday, March 11, 2024

WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.

Key Points: 
  • WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.
  • Research and development expenses were $40.5 million for the year ended December 31, 2023, compared to $62.5 million for 2022.
  • 2023 and Recent Corporate Highlights:
    In July 2023, Mustang announced that it amended its previously announced asset purchase agreement with uBriGene (Boston) Biosciences Inc. (“uBriGene”) and closed the transaction.
  • In October 2023, Mustang completed a registered direct offering priced at-the-market for approximately $4.4 million in gross proceeds.

Vista Outdoor Rejects Unsolicited Indication of Interest from MNC Capital

Retrieved on: 
Monday, March 4, 2024

Vista Outdoor Inc. (NYSE: VSTO) today announced that its Board of Directors (the “Vista Outdoor Board”), following consultation with its financial and legal advisors, has rejected an unsolicited indication of interest received on February 19, 2024 from MNC Capital (“MNC”) pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).

Key Points: 
  • Vista Outdoor Inc. (NYSE: VSTO) today announced that its Board of Directors (the “Vista Outdoor Board”), following consultation with its financial and legal advisors, has rejected an unsolicited indication of interest received on February 19, 2024 from MNC Capital (“MNC”) pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).
  • The Vista Outdoor Board also issued a letter to MNC which is reproduced below.
  • We are confident that this is the best path to unlock value for our stockholders.”
    The full text of the letter to MNC follows:
    I am writing on behalf of Vista Outdoor Inc. (“Vista”) in response to MNC Capital’s (“MNC”) letters dated February 19, 2024 and February 28, 2024, expressing MNC’s interest in pursuing a transaction pursuant to which MNC would acquire Vista in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).
  • Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.

MNC Capital Submits Proposal to Acquire Vista Outdoor for $35.00 Per Share in Cash

Retrieved on: 
Friday, March 1, 2024

We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).

Key Points: 
  • We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).
  • The proposed price offers a substantial premium to Vista’s share price, which already reflects a takeover premium.
  • Given Vista’s share price is currently trading close to its 52-week high, our proposal also reflects a highly attractive value overall to Vista’s shareholders.
  • The Board is currently reviewing the proposal consistent with its fiduciary duties, in consultation with our legal and financial advisors.

China’s chip industry is gaining momentum – it could alter the global economic and security landscape

Retrieved on: 
Tuesday, February 13, 2024

China’s national champions for computer chip – or semiconductor – design and manufacturing, HiSilicon and Semiconductor Manufacturing International Corporation (SMIC), are making waves in Washington.

Key Points: 
  • China’s national champions for computer chip – or semiconductor – design and manufacturing, HiSilicon and Semiconductor Manufacturing International Corporation (SMIC), are making waves in Washington.
  • Despite being the recipient of billions of dollars from the Chinese government since its founding in 2000, it remained far from the technological frontier.
  • But now it faces formidable competition from China, who’s technological advance carries profound economic, geopolitical and security implications.

Semiconductors are a big business

  • Smaller transistors result in lower energy consumption and faster processing speeds, so massively improve the performance of a microchip.
  • Semiconductors are the backbone of the modern economy.
  • The US push for “made in the USA” semiconductors has to do with this systemic importance.

Stifling China’s chip industry


Since the 1980s, the US has helped establish and maintain a distribution of chip manufacturing that is dominated by South Korea and Taiwan. But the US has recently sought to safeguard its technological supremacy and independence by bolstering its own manufacturing ability. Through large-scale industrial policy, billions of dollars are being poured into US chip manufacturing facilities, including a multi-billion dollar plant in Arizona.

  • This includes the high-profile case of Broadcom’s attempt to buy Qualcomm in 2018 due to its China links.
  • The US government has called on its friends to adopt a unified stance around excluding chip exports to China.
  • Washington has also limited talent flows to the Chinese semiconductor industry.
  • It banned the sale and import of equipment from Huawei in 2019 and has imposed sanctions on SMIC since 2020.

What’s at stake?

  • Beijing’s ascent to the technological frontier would mean an economic boom for China and bust for the US.
  • Taiwan’s status as the leading manufacturer of semiconductors has so far deterred China from using force to attack the island.
  • Read more:
    The microchip industry would implode if China invaded Taiwan, and it would affect everyone

    China is advancing its semiconductor capabilities.


The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

Momentus Completes All Requirements of the National Security Agreement (NSA)

Retrieved on: 
Wednesday, January 31, 2024

I am incredibly appreciative not just of all of their efforts, but also of the U.S. Government’s recognition that our achievements warranted ending the National Security Agreement at this time,” said Momentus Chairman and Chief Executive Officer John Rood.

Key Points: 
  • I am incredibly appreciative not just of all of their efforts, but also of the U.S. Government’s recognition that our achievements warranted ending the National Security Agreement at this time,” said Momentus Chairman and Chief Executive Officer John Rood.
  • “Momentus has now emerged from this rigorous process clear of any lingering security concerns.”
    “Over the course of the past two and half years, Momentus worked closely with the CFIUS Monitoring Agencies to implement a National Security Agreement.
  • Third-party monitoring and validation occurred throughout to assess effectiveness and develop a record of performance,” said Momentus Chief Security Officer Jason Garkey.
  • The CFIUS process required Momentus to mature its business procedures much faster than a typical early-stage company and accelerated capability development.

Debevoise Welcomes Rick Sofield as Partner and Co-Head of the National Security Practice, Enhancing CFIUS and National Security Offerings

Retrieved on: 
Monday, January 29, 2024

Peter Furci, Presiding Partner, said, "The growing focus on national security regulation in the U.S., including enhanced CFIUS enforcement authority, creates additional complexity for our clients at a time when the transactional market remains choppy.

Key Points: 
  • Peter Furci, Presiding Partner, said, "The growing focus on national security regulation in the U.S., including enhanced CFIUS enforcement authority, creates additional complexity for our clients at a time when the transactional market remains choppy.
  • Rick's capabilities as a recognized member of the CFIUS and broader national security bar strengthens our ability to serve our clients' needs in this area, and enhances the firm's multidisciplinary national security offering."
  • The opportunity to join the team and help build-out the national security practice was too good to pass up.
  • I'm ready to get to work, and join the firm's global network of lawyers in helping clients navigate the complex and evolving world of CFIUS and other national security matters."

Accelera by Cummins, Daimler Truck and PACCAR select Mississippi for battery cell production in the United States

Retrieved on: 
Thursday, January 18, 2024

Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.

Key Points: 
  • Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.
  • The planned joint venture between Accelera, Daimler Truck and PACCAR was announced in September 2023 and will create scale to deliver cost effective and differentiated battery cell technology that supports the adoption of electric vehicles for medium- and heavy-duty commercial transportation.
  • Accelera, Daimler Truck and PACCAR will each own 30% of, and jointly control, the business, which will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks.
  • Accelera, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies.

3DEO Secures Strategic Investment From Development Bank of Japan and Seiko Epson Corporation to Accelerate Growth and Innovation

Retrieved on: 
Friday, January 19, 2024

3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).

Key Points: 
  • 3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).
  • The investment will propel 3DEO’s growth strategies in North America and Japan, expanding opportunities for partnership in the semiconductor, aerospace, medical devices and equipment, and industrial sectors.
  • The strategic investment by DBJ and EPSON aligns with DBJ's mandate to foster “technological innovation and reorganization of industry,” and with Epson's mission to promote “manufacturing innovation” under its Epson 25 Renewed Corporate Vision.
  • With this strategic investment, 3DEO is poised to further disrupt traditional and advanced manufacturing processes, bringing innovative products to market faster and more efficiently than ever before.

Accelera by Cummins, Daimler Truck and PACCAR Select Mississippi for Battery Cell Production in the United States

Retrieved on: 
Thursday, January 18, 2024

Accelera™ by Cummins, Daimler Trucks & Buses US Holding LLC and PACCAR have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.

Key Points: 
  • Accelera™ by Cummins, Daimler Trucks & Buses US Holding LLC and PACCAR have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.
  • The 21-gigawatt hour (GWh) factory is expected to begin producing battery cells in 2027.
  • Accelera, Daimler Truck and PACCAR will each own 30% of, and jointly control, the business, which will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks.
  • Accelera, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies.

Summit Materials Announces Board of Directors Appointments

Retrieved on: 
Wednesday, January 17, 2024

DENVER, Jan. 17, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company") is pleased to announce the appointment of Jorge Mario Velasquez, Irene Moshouris, and Juan Esteban Calle to the Summit Materials Board of Directors, effective January 12, 2024.

Key Points: 
  • DENVER, Jan. 17, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company") is pleased to announce the appointment of Jorge Mario Velasquez, Irene Moshouris, and Juan Esteban Calle to the Summit Materials Board of Directors, effective January 12, 2024.
  • Following these appointments, and together with the retirement of John Murphy, the Board consists of 11 directors, 10 of whom are independent.
  • "We are delighted to welcome an experienced and accomplished set of new board members to the Summit Materials board," said Howard Lance, chairman of Summit Materials.
  • Grupo Argos is a leader in the cement business through its subsidiary Cementos Argos, which, together with affiliates, is a 31% owner of Summit Materials.