Bloomberg Business

Intel-Backed Astera Taps Morgan Stanley, JPMorgan for 2024 IPO

Astera Labs Inc., the semiconductor connectivity solutions firm backed by investors including Intel Corp.’s venture arm, is working with investment banks to prepare for an initial public offering that could come as soon as next year, according to people with knowledge of the matter.

Sanofi to Pay Teva as Much as $1.5 Billion for Bowel Drug

Sanofi agreed to pay Teva Pharmaceutical Industries Inc. as much as $1.5 billion to help develop and sell a medicine for inflammatory bowel disease, its second deal to gain a new experimental treatment this week.

Reverse-Mortgage Suit Claims Feds Reneged on Loan Promises

Federal housing authorities persuaded Texas Capital Bancshares Inc. to help with the fallout from a bankrupt reverse-mortgage provider, then went back on their promises of financial support, the company said in a lawsuit Wednesday.

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