Top Financial Moves: From Tech Mergers to Medical Approvals
The Financial Times highlights key stories including Liberty Global restructuring, GSK's drug approval, Sidara's bid considerations following a UK probe, and JD.com's talks to acquire Ceconomy. Liberty Global plans job cuts while GSK receives EU approval for a cancer drug. JD.com eyes expansion in Europe with a major acquisition.
In a significant restructuring move, Liberty Global, the conglomerate founded by U.S. cable pioneer John Malone, is offering voluntary redundancies to over a third of its workforce in London, Denver, and Amsterdam. The decision includes selling off its private jet.
Meanwhile, the European Union has given the green light to GSK for its blood cancer drug, Blenrep. This approval aims to treat relapsed or treatment-resistant cancer forms affecting blood plasma cells and marks a crucial win for the pharmaceutical giant.
In a strategic business move, Dubai-based Sidara is considering revising its offer for Wood Group following scrutiny from the UK's financial regulator. Additionally, Chinese e-commerce leader JD.com is in advanced negotiations to acquire German electronics retailer Ceconomy in a deal valued at approximately 2.2 billion euros.
(With inputs from agencies.)
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