Billionaire Li Ka-shing’s Cheung Kong Group agreed to acquire Envestra Ltd. in a cash deal that values the Australian natural gas distributor at A$2.4 billion ($2.2 billion), edging out a rival share offer from APA Group.
Companies controlled by billionaires James Packer and Cheng Yu-tung have been shortlisted to develop a new casino resort in Brisbane, Australia, as the nation’s government pushes to lure Asian tourists amid an export slump.
Sundance Energy Australia Ltd., an explorer that’s expanding in the Eagle Ford shale formation of Texas, will look at acquisitions of as much as $200 million as some competitors focus on drilling over deals.
The government of Australia’s Queensland state will study proposals for two new casinos backed by Chinese and Hong Kong investors, challenging Echo Entertainment Group Ltd.’s hold on the local gambling market.
Fans of the signature boom in Beats Electronics headphones can thank Mike Klasco, an audio-equipment consultant who was responsible for the speaker and related electronic innards of the original device. But if Apple spends $3.2 billion to acquire Beats as expected, Klasco won't be among those who reap the benefits.
Drugs made by Intermune Inc. and Boehringer Ingelheim GmbH slowed progression of a lung disease with no cure that often kills people three to five years after diagnosis, according to findings reported by two studies.