The Biden administration has finalized an agreement to provide Micron Corp. with approximately $6.2 billion in subsidies aimed at enhancing American semiconductor manufacturing. This funding, part of the 2022 Chips and Science Act, will support factories in Idaho and New York, reinforcing confidence in U.S. industrial policy.
In a separate development, the U.S. Department of Energy announced that it cannot finalize reviews of two liquefied natural gas (LNG) projects in Louisiana until the Federal Energy Regulatory Commission (FERC) completes its environmental assessments. The projects in question are Venture Global LNG's CP2 facility and Commonwealth LNG's planned facility, both located on the Gulf of Mexico. The delay stems from a recent FERC decision requiring additional environmental reviews.
Additionally, Mondelez International Inc. is reportedly considering a takeover of Hershey Co., which could emerge as the largest merger and acquisition (M&A) deal of the year. The global M&A volume has increased by 18% year-over-year to $3.1 trillion, indicating a gradual recovery in deal-making activity.