Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
Saudi Oil Tankers Reverse Course as Houthi Threats Disrupt Red Sea Shipping 
Oil Prices Rise as Houthi Attacks on Saudi Tankers Heighten Middle East Supply Fears 
Belimo H1 Sales Surge as AI Data Center Cooling Drives More Than Half of Growth 
Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand 
Gold Price Surges Above $4,100 as Middle East Tensions Boost Safe-Haven Demand 
Houthi Naval Blockade on Saudi Arabia Escalates Iran Conflict, Threatens Global Oil Supply 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
Cathay Pacific Sees H1 Profit Surge on Strong Travel Demand 
Rubio Rejects AI ‘Kill Switch’ Claims as U.S. Defends American Technology Abroad 
GM Q2 Earnings Beat Estimates as General Motors Raises 2026 Profit Outlook 
Wistron Opens $700M Texas AI Factory to Build Nvidia Superchips in U.S. 
Gold Price Jumps Near 2% Above $4,080 as Middle East Tensions Lift Safe-Haven Demand 
Asian Stocks Rally on AI Spending Optimism as Middle East Tensions Push Oil to Six-Week High 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
AppLovin Corporation, a mobile technology company, headquartered in Palo Alto, California, has formally withdrawn its merger and acquisition (M&A) offer after Unity Software Inc. turned down its $20 billion bid last month.
AppLovin will not be submitting any new offer as it gives up the effort to buy the software firm. This comes after Unity Software rejected its multi-billion offer. The decision to pull out was confirmed by AppLovin on Monday, Sept. 12.
The video game software development company based in San Francisco reasoned that the mobile tech firm’s bid was declined because the offer was not in the shareholders’ best interest. Now that AppLovin said that it would not submit a new proposal, the Israeli software company, IronSource, is expected to proceed with a deal with Unity Software.
It was in early August when AppLovin proposed to acquire Unity Software for $58.85 per share, and this was a premium of around 18% to the prior closing price. In response, the latter suggested the shareholders are not interested.
As per CNBC, rather than accepting the bid, Unity Software recommended for the shareholders to vote in favor of the $4.4 billion acquisition proposal submitted by IronSource mobile advertising tech firm. It was the company that suggested the amount that was reportedly agreed upon in July.
AppLovin said it saw a great opportunity if it merged with Unity, but after the rejection, it now thinks that staying independent could actually be better for its stockholders. It has decided to just focus on expanding its own platform and gaining a bigger market share.
In any case, if the acquisition deal proceeded and AppLovin’s proposal was accepted, Unity would be forced to ditch its deal with IronSource. It is also likely that the latter’s chief executive officer, John Riccitiello, would have been named the chief of the merged company.
“Our experienced and dedicated team will continue to focus on what we can control, including continual improvements to our products and technology and expanding into newer high-growth markets,” AppLovin’s co-founder and CEO, Adam Foroughi, said in a press release.
He added, “We remain excited about the long-term growth potential of our core markets and AppLovin. Our team and culture have always emphasized and incentivized an entrepreneurial mindset in pursuit of long-term innovation and value creation.”
