-- Thai billionaire Sarath Ratanavadi plans to merge his listed power company with an affiliate that owns the nation’s most-valuable mobile phone operator, creating a business worth $20.5 billion based on Tuesday’s closing prices.Trump Shooting Changes Biden’s Plan to Revive 2024 Campaign
“The transaction is value-neutral in principle to Gulf” with the proposed special cash dividend and lower cost obligations as small positives, Sumedh Samant, an analyst at JPMorgan Securities Co., wrote in a note. Still, the new merged entity may have a 5% to 7% dilution on its earnings per share due to amortization expenses following the consolidation, he said.Singapore Telecommunications Ltd. said in an exchange filing that it supported the amalgamation between Gulf Energy and Intouch.
-- Fitch Ratings raised Delta Air Lines Inc. out of junk territory, making the carrier a so-called rising star with a second investment-grade rating.Most Read from BloombergBlackRock Says Gunman From Trump Rally Appeared in Firm’s AdTrump Security Tightened on Iran Plot Intel; No Link to ShootingAmazon Sold a Used Diaper.
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