Streetbeat News

Acquisitions Mergers

PFE

Starboard Value has expressed concerns that Pfizer may have overpaid for its acquisitions post-2022, based on Pfizer's own sales targets. This could impact investor sentiment and Pfizer's stock performance.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:03 pm

CELU

Celularity Inc. (NASDAQ:CELU) has provided a corporate update, highlighting the acquisition of Rebound, a placental-derived product, and its impact on their portfolio. The company reported sales of over $24 million for the first half of 2024 and expects combined net sales of $50M-$56M. Celularity is working to regain Nasdaq compliance and plans to submit FDA notifications for new products in 2025-2026.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:33 pm

ACN

Accenture has invested in Reality Defender, a cybersecurity company specializing in deepfake detection, to help clients in various industries combat deepfake fraud. The terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:31 pm

MGRX

Mangoceuticals, Inc. (NASDAQ:MGRX) has announced a strategic review to explore potential mergers, acquisitions, divestitures, and other business combinations to maximize shareholder value. The company is considering a wide range of strategic, operational, and financial alternatives with no set timeline for completion.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:20 pm

ONFO

Onfolio Holdings Inc. has acquired a 70% stake in Eastern Standard for $1.66 million, using Series A Preferred Shares and secured promissory notes. Eastern Standard, a digital marketing service provider, generated $4 million in revenue and $630,000 in EBITDA for 2023.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:16 pm

MMLP

Nut Tree Capital Management and Caspian Capital are opposing the sale of Martin Midstream Partners L.P. to Martin Resource Management Corporation, arguing that the sale undervalues MMLP. They plan to file a proxy statement to solicit votes against the sale.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:12 pm

FSHP

Flag Ship Acquisition Corporation (NASDAQ: FSHP) has entered into a merger agreement with Great Rich Technologies Limited (KOSDAQ: 900290) and GRT Merger Star Limited. Upon completion, Flag Ship shareholders will receive American Depositary Shares of GRT, and Flag Ship will merge into a wholly-owned subsidiary of GRT. The merger is subject to customary closing conditions, including the listing of GRT ADSs on Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:08 pm

GVP

Investor Bradley L. Radoff, owning 9.9% of GSE Systems, Inc. (NASDAQ:GVP), urges the company's board to disclose 2025 projections amid a proposed merger with Pelican Energy Partners. Radoff criticizes the board for not providing forward-looking projections, which he deems necessary for shareholders to evaluate the merger offer, recently increased to $4.60 per share.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:06 pm

TRI

Thomson Reuters has acquired Materia, a startup focused on AI for tax, audit, and accounting, to enhance its AI capabilities. The financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:05 pm

VERI

Veritone has sold its media agency, Veritone One, to Insignia Capital for up to $104 million. This move is aimed at focusing on its enterprise AI strategy, strengthening its balance sheet, and accelerating growth in AI software solutions.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 12:03 pm