Elon Musk announced that his AI business, xAI, has acquired his social media platform X in a deal worth $113 million. The merger aims to leverage the strengths and unlock the potential of both companies.
The transaction was share-based and valued xAI at $80 billion and X (formerly Twitter) at $45 billion (minus $12 billion in debt), according to Musk’s own statements on social media. When Musk initially bought Twitter, he paid $44 billion.
Musk stated that a part of the merger’s goal is to provide more intelligent and meaningful experiences for platform users. Grok, Musk’s AI bot, has been available on the platform for some time now. Further integration details were not disclosed by the entrepreneur.
Intel Receives $1.9 Billion from SK Hynix
Intel received $1.9 billion from SK Hynix after the U.S. chip manufacturer completed the second phase of an agreement to sell its NAND memory unit in Dalian, China, to the South Korean company.
Intel transferred its NAND memory technology and manufacturing operations to SK Hynix during the second phase of the transaction, concluding on Thursday.
The first phase, involving the NAND plant and related solid-state drive business, was completed on December 29, 2021.
Intel’s stock dropped by 3.85% to $22.71 per share in Nasdaq trading on Friday.
Bluebird bio Receives Unsolicited Acquisition Proposal
Biofarmaceutical company Bluebird bio, specializing in genetic therapies for severe genetic disorders, received an unsolicited and non-binding acquisition proposal from Ayrmid. The offer includes an initial cash payment of $4.50 per share and a unique contingent right of $6.84 per share payable upon reaching a net sales milestone.
Bluebird had agreed to be acquired by funds managed by Carlyle and SK Capital Partners for $3.00 per share in cash plus a unique contingent right of $6.84 per share, payable upon achieving a net sales milestone.
Ayrmid did not present any proposal during the previously reviewed alternatives process, as reported by Bluebird bio over the weekend.
Bluebird bio stated that it “remains subject to the terms of the merger agreement” with Carlyle and SK Capital, and its board “has not changed its recommendation in favor of the merger.”
Novo Nordisk Acquires Experimental Obesity Drug License from Lexicon Pharmaceuticals
Danish pharmaceutical company Novo Nordisk will acquire the license for an experimental obesity drug, LX9851, from Lexicon Pharmaceuticals in a $1 billion deal. This is the second such acquisition by Novo Nordisk last year, aimed at strengthening its portfolio of weight-loss treatments.
Under the terms of the agreement announced by Lexicon, Novo will gain worldwide development, manufacturing, and commercialization rights for LX9851, targeting obesity and associated metabolic disorders.
Novo Nordisk has been actively enhancing its position in the $150 billion potential obesity drug market through new-generation drug development, acquisitions, and partnerships.
