US biotech firm Tourmaline Bio Inc announced on Tuesday that it has agreed to be acquired by Swiss pharmaceutical company Novartis AG. The deal was valued at $48.00 per share in cash at closing on Monday, representing a total equity value of about $1.4 billion, the companies said. The deal price represents a premium of 59% on Tourmaline's closing stock price on Monday, the last trading day before the announcement of the transaction. The transaction has been unanimously approved by the boards of directors of both companies. Tourmaline closed Monday's regular trading at $30.18, up $3.44 or 12.86...
Dutch multinational semiconductor company ASML announced on Tuesday that it has entered into a long-term partnership with French artificial intelligence (AI) startup Mistral AI. The two companies will work together to explore how artificial intelligence can be used across ASML's products, research, development and operations, they said. The goal is to help ASML's customers bring products to market faster and improve the performance of its advanced lithography systems. As part of this collaboration, ASML is investing €1.3 billion ($1.53 billion) in Mistral AI's Series C funding round, becoming ...