Stocks of the Hour: CSL, Woodside Petroleum, Sims

Company News

by Melissa Darmawan

Biotech giant CSL (ASX:CSL) has completed a $6.3 billion capital raise to fund its takeover of Vifor Pharma. It’s considered the largest capital raise in Australian history. Shares in CSL (ASX:CSL) are trading 8.2 per cent lower at $272.93.

The ACCC has given its nod to Woodside Petroleum's (ASX:WPL) proposed acquisition of BHP Petroleum. The competition watchdog focused its review on local natural gas supply in Western Australia, and cites adequate competition from rival suppliers. Shares in Woodside Petroleum (ASX:WPL) are trading 0.3 per cent higher at $22.13, while BHP (ASX:BHP) are trading 1.1 per cent lower at $40.63.

In other M&A news, recycling group Sims (ASX:SGM) has inked a deal to buy US-based metals recycler Atlantic Recycling Group for $51.6 million (US$37 million). The acquisition is slated for Sims to expand its east coast footprint in North America. Sims (ASX:SGM) are trading 0.3 per cent higher at $15.47.

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