1. Newmont Mining is exploring a potential deal to gain control of Barrick Gold's Nevada gold mine assets. Newmont already holds a minority stake in the joint venture and is in early-stage discussions about various transaction structures, including acquiring Barrick's stake or a full takeover with divestment of non-core assets. Newmont shows limited interest in Barrick's African operations or Pakistan's Reko Diq copper-gold project. Despite better-than-expected Q3 results, Newmont's shares fell 6.2% due to production concerns and projected lower gold output next year. Meanwhile, its Ahafo North project in Ghana has achieved commercial production.
2. Eli Lilly plans to acquire gene therapy firm Adverum Biotechnologies for $3.56 per share, with contingent value rights potentially adding up to $8.91 per share if milestones are met, bringing the total deal value to $12.47 per share. Adverum's lead candidate Ixo-vec treats wet age-related macular degeneration through single-dose intravitreal gene therapy. The acquisition combines Lilly's genetic medicine expertise with Adverum's ocular gene therapy platform.
3. Tsingtao Brewery has terminated its planned acquisition of Jimo Huangjiu due to unmet preconditions in the share transfer agreement. The ¥665 million deal, announced in May 2025, would have given Tsingtao full ownership of the traditional yellow rice wine producer founded in 1949. Reports suggest frozen shares worth over ¥100 million may have derailed the transaction.
4. China Tungsten and High-Tech Materials plans to acquire 99.97% of Hengyang Yuanjing Tungsten for ¥821 million from Minmetals Tungsten. The target company holds 154,500 tonnes of tungsten reserves and produces 2,600 tonnes annually, primarily supplying China Tungsten's smelting operations.
5. Skyworth Group's subsidiary will transfer its 40% stake in Fengchi Electronics to the parent company for ¥116 million, while Skyworth will inject its wholly-owned Anshida Company (valued at ¥104 million) into Fengchi. Post-transaction, Skyworth will hold 55.82% of Fengchi.
6. Yip's Chemical will acquire 60% of Beijing Sinopec Hyber Petrochemical Technology for up to ¥384 million. The target specializes in chemical emission management solutions for oil/gas production and storage operations.
7. Shandong Iron & Steel will acquire Laiwu Steel Group Yinshan Section Steel for ¥714 million to eliminate competition and enhance product synergies. The target has annual capacities of 5.87 million tonnes of pig iron and 5.6 million tonnes of crude steel.
8. Wisdom Technology plans to invest ¥160 million to acquire 51.03% of Liangtou Technology, a financial derivatives trading software provider whose products serve major futures firms.
9. Delong Holdings' controlling shareholder may transfer 29.64% stake to Dongyang Nuoxin Chip Materials, potentially triggering a change of control. The price will be determined based on market valuation.
10. Jinchun Nonwoven will pay ¥51.9 million for 51% of Anhui Jinshengyuan Materials Technology to expand its industrial chain.
11. Shenlian Biological's subsidiary has increased investment to gain control of Shizhiyuan, which will become a consolidated subsidiary.
12. Fuda Alloy's planned ¥352 million acquisition of Guangda Electronics (52.61% stake) has drawn regulatory inquiries due to the target's declining margins and high leverage (77.23% post-debt).
13. Suzhou Planning & Design Research Institute has completed the ¥6.65 million acquisition of 80% of KETD Architectural Design Institute.
14. YTEC Intelligent Control will acquire 100% of Guilin Guanglong Integration Technology and 76% of Shanghai Aojian Microelectronics via stock-and-cash deals, triggering a trading halt.
15. Novartis has agreed to buy Avidity Biosciences, gaining its muscle-targeting AOC platform and three late-stage therapies for genetic neuromuscular disorders (DM1, FSHD, DMD).
16. WuXi AppTec will sell its clinical research subsidiaries to Hillhouse Capital affiliates for ¥2.8 billion to focus on CRDMO services. The targets specialize in clinical trial services.