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Blackstone sells 20.50% stake in Sona BLW Precision for Rs 4,917 crore:

Private equity firm Blackstone on Monday sold its 20.50 per cent stake in auto component maker Sona BLW Precision Forgings for Rs 4,917 crore through an open market transaction.

Blackstone, through its affiliate Singapore VII Topco III Pte Ltd offloaded the shares in Sona BLW. Singapore VII Topco III Pte is a promoter entity in Sona BLW.Monetary Authority of Singapore, Government of Singapore, BNP Paribas Arbitrage, Fidelity Asian Values Plc, Societe Generale, among others were the buyers of the shares.

GAIL declares interim dividend of 40% for financial year ending 2022-23:

India's largest gas firm GAIL on Monday declared an interim dividend of 40 per cent or Rs 4 per equity share for the financial year ending March 31 (2022-23).

The total dividend payout would be Rs 2,630 crore, the company said in a statement after its board of directors approved payment of an interim dividend.The government of India, with 51.52 per cent shareholding in the company, will receive Rs 1,355 crore dividend.

Pfizer to acquire Seagen for $43 bn to deepen reach into treating cancer:

Pfizer will spend $43 billion to buy Seagen and deepen its reach into treating cancer. The pharmaceutical giant said Monday that it will pay $229 per Seagen share.

Together, Pfizer and Seagen seek to accelerate the next generation of cancer breakthroughs and bring new solutions to patients by combining the power of Seagen's antibody-drug conjugate (ADC) technology with the scale and strength of Pfizer's capabilities and expertise," Pfizer Chairman and CEO Dr Albert Bourla said in a statement.

Gold, silver soar as SVB collapse spurs flight to safety

Gold and silver prices surged on Monday, as their safe-haven appeal drew in investors spooked by the collapse of Silicon Valley Bank, with the crisis also sparking hopes the US Federal Reserve would have to slam the brakes on its aggressive monetary policy. The US dollar and Treasury yields extended their declines despite efforts by regulators to control the Silicon Valley Bank and Signature Bank turmoil. Spot gold jumped 2.4 percent to $1,921.06 per ounce by 1:34pm EDT (1734 GMT), the highest since early February. US gold futures gained 2.6 percent to settle at $1,916.50.

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