US pharmaceutical company Merck has announced acquisition of its competitor Acceleron Pharma. The deal will be done through a subsidiary of Merck, which will buy all of Acceleron's shares at $180 each. This brings the total purchase price to $11.5bn. This deal is one of the largest acquisitions in Merck's history. Acceleron itself specializes in the development of drugs for respiratory diseases...

The Lego Group reported strong growth in its financial results in the first half of the year. Net income rose 140% to more than $990 million, operating income rose 104% to $1.3 billion, revenues rose 46% to $3.6 billion and consumer sales showed growth of 36%. The Lego Group business was one of the few that weathered the COVID-19 pandemic unscathed and even reached record levels thanks to...

Video game developer Activision Blizzard said it had reached an agreement with the US Equal Employment Opportunity Commission (EEOC) over complaints of sexual harassment, wage inequality and other corporate culture violations. Under the terms of the agreement, the company will pay $18 million in compensation to eligible individuals. The company will direct the unclaimed funds to internal...

Chinese Huawei CFO Meng Wanzhou has flown home from Canada after being released from custody, local media reported. Meng was released after striking a deal with US prosecutors the day before. She admitted concealing violations of sanctions against Iran in exchange for withdrawing her extradition request. "The Air China plane with Meng Wanzhou on board took off from Vancouver airport," a...

China's Evergrande, which is on the verge of bankruptcy, has promised to pay $35.9m on bonds on 23 September. The main unit of major Chinese property developer Evergrande Group has promised to make payments on some of its debts on September 23, Reuters wrote. The company will pay interest to bondholders totalling $35.88 million, the agency said, citing data from its Refinitiv service. The...

The US Securities and Exchange Commission (SEC) has asked video game developer Activision Blizzard, its CEO Bobby Kotick and other executives for information related to allegations of sexual harassment and discrimination by company employees, The Wall Street Journal (WSJ) reported, citing sources. A spokesperson for Activision confirmed to the publication that the SEC had opened an investigation...

The co-working network WeWork has announced its intention to start trading shares in October this year. The company is going public two years after canceling its IPO with a valuation that fell fivefold. US co-working network WeWork plans to start trading its shares on the New York Stock Exchange from October this year. It was announced by the company's press office. WeWork will go public through...

U.S.-based financial software developer Intuit has reached a deal with e-mail distribution service Mailchimp, according to a press release from the buyer. Mailchimp will be acquired for $12 billion. Intuit expects to pair Mailchimp with its QuickBooks accounting service to "help small- and medium-sized businesses and allow them to launch their businesses online," Intuit CEO Sasan Goodarzi said in...

Billionaire Mark Cuban has invested in a developer of artificial meat for animals. During the pandemic, the percentage of American families with at least one pet rose to a record 70%. In one year, they spent $42 billion on food. Billionaire Mark Cuban ($4.5 billion fortune, according to Forbes Real-Time) is investing in an artificial animal meat company. Wild Earth, a plant-based pet food...