PepsiCo Drops Sponsorship, Soleno Therapeutics Surges on Buyout Rumors
PepsiCo pulls festival sponsorship over headline act, while Soleno Therapeutics shares jump on reports of a potential $2.5 billion acquisition by Neurocrine Biosciences.
PepsiCo has officially terminated its sponsorship of a major London music festival following the announcement that Kanye West would serve as the event's headliner. The beverage giant’s withdrawal marks a significant shift in the festival's corporate backing as organizers face public scrutiny over the booking.
In the technology sector, the United Kingdom is actively working to attract artificial intelligence firm Anthropic. The British government is attempting to persuade the company to expand its operations within the country, aiming to bolster the UK's AI infrastructure even as the firm navigates a complex regulatory environment and competitive pressures in the United States.
Meanwhile, shares of Soleno Therapeutics saw a sharp rally during today's trading session. The surge was triggered by reports indicating that the company is a potential acquisition target for Neurocrine Biosciences in a deal valued at approximately $2.5 billion. Neither company has issued an official statement regarding the alleged buyout discussions.