$SBGSY $PTC $SU $WU $RNLSY
TOP 5 WEEKEND STORIES**
1) Schneider Electric (SBGSY) is close to a
$20B takeover of PTC (PTC) in a deal that could be announced as soon as Monday, Aaron Kirchfeld, Oliver Barnes, and James Fontanella-Khan of The Financial Times reports, citing people familiar with the matter. Discussions are ongoing and there is no certainty a deal will be reached, the sources added.
2) Suncor Energy (SU) announced that it has entered into a definitive agreement to sell its 48% interest in Terra Nova, 40% interest in White Rose and 38.6% interest in West White Rose offshore assets to Ithaca Energy for
$860M of upfront cash and an additional contingent payment of up to
$250M, based on future oil prices. In addition, Ithaca will assume investment commitments and all future liabilities associated with the assets, including a C
$500M regulatory well compliance program starting in 2027 at Terra Nova and the total estimated abandonment and lease liabilities of C
$1.4B.
3) AkzoNobel (AKZOY) is close to entering a deal to sell its Southeast Asian decorative paints business to Nippon Paint (NPCPF) for over
$1B, Aaron Kirchfeld of The Financial Times reports. The company could reach an agreement as early as Monday, people familiar with the talks told the Times. The divestment would include operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia.
4) Western Union (WU) disclosed late Friday that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to its Intermex (IMXI) expired on October 6, 2025. Clearance under the HSR Act is effective for a period of one year following expiration of the waiting period. Given the lapse of time, a new filing under the HSR Act is required in order for the company and Intermex to complete the Merger after October 6. Accordingly, on October 2, Western Union and Intermex each filed their respective premerger notification and report forms under the HSR Act with the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice with respect to the berger.
5) Renault (RNLSY) plans to continue investing in France's EV industry if this action continues to garner political and social support, William Horobin of Bloomberg reports, citing comments made by CEO Francois Provost. The company has dedicated
$14.6B to boosting EV in France over the last five years and intends to continue that momentum, CEO Provost said on France Inter radio.
