Streetbeat News

Acquisitions Mergers

ACHR

FTHI

KOMP

STLA

Stellantis N.V. (NYSE:STLA) has invested an additional $55 million in Archer Aviation Inc. (NYSE:ACHR) following Archer's transition flight test milestone. This investment is part of a strategic funding agreement, with Stellantis having invested a total of $110 million in Archer throughout 2023. Stellantis shares are down 1.86%, while Archer shares are up 9.21%. Investors can gain exposure to these stocks via First Trust BuyWrite Income ETF (NASDAQ:FTHI) and SPDR S&P Kensho New Economies Composite ETF (NYSE:KOMP).

Portfolio Pulse from Lekha Gupta

July 02, 2024 | 6:12 pm

BLK

BlackRock's acquisition of Preqin for $3.2 billion is expected to drive revenue synergies and expand its presence in emerging private markets. Goldman Sachs analyst Alexander Blostein reiterated a Buy rating on BlackRock with a price target of $929. The acquisition is funded with $3 billion in debt and $200 million in cash, and is expected to generate significant revenue growth for BlackRock.

Portfolio Pulse from Nabaparna Bhattacharya

July 02, 2024 | 5:58 pm

MMC

Marsh McLennan Agency, a subsidiary of Marsh, has acquired AmeriStar Agency, Inc., an independent agency based in Wayzata, Minnesota. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 5:01 pm

TPX

Tempur Sealy has issued a statement regarding the FTC's challenge to its planned merger with Mattress Firm. The company remains confident in the procompetitive rationale of the merger, emphasizing industry competition and consumer benefits. Tempur Sealy plans to close the transaction by late 2024 or early 2025.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 5:01 pm

TPX

Tempur Sealy International shares are trading higher after the FTC reportedly sued to block the company's purchase of Mattress Firm.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 4:27 pm

CERE

TPX

The U.S. Federal Trade Commission (FTC) has filed a lawsuit to block Tempur Sealy's acquisition of Mattress Firm. The FTC argues that the merger would reduce competition in the mattress market.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 3:47 pm

COIN

HOOD

Robinhood Markets Inc. (NASDAQ:HOOD) is considering launching cryptocurrency futures in the U.S. and Europe, leveraging its acquisition of Bitstamp Ltd. The move aims to offer perpetual futures for Bitcoin and other cryptocurrencies in Europe and CME-based futures for Bitcoin and Ethereum in the U.S. However, no final decisions have been made yet.

Portfolio Pulse from Murtuza Merchant

July 02, 2024 | 3:44 pm

LYFT

UBER

Addison Lee, a London-based minicab firm, is being put up for sale by its majority shareholder, Cheyne Capital. Jefferies, the investment bank, has been hired to explore potential buyers. The process is in its early stages and may not result in a transaction.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 3:29 pm

CLSK

CleanSpark Inc (NASDAQ:CLSK) released an unaudited Bitcoin mining update, reporting 445 bitcoins mined in June and a total of 3,614 bitcoins mined year-to-date. The company exceeded its mid-year hash rate target of 20 EH/s due to the acquisition of five new mining sites in Georgia. CleanSpark also closed its acquisition of GRIID Infrastructure, adding 60 MW of data center infrastructure.

Portfolio Pulse from Adam Eckert

July 02, 2024 | 3:15 pm

IFBD

Infobird Co. Ltd. (NASDAQ:IFBD) announced an equity acquisition agreement with Shangri-La Trading Limited to acquire 65% of Pure Tech Global Limited for $40 million. The acquisition is expected to close in July 2024. Infobird shares are experiencing heavy trading volume, with significant short interest adding to price volatility.

Portfolio Pulse from Erica Kollmann

July 02, 2024 | 3:09 pm