Streetbeat News

Acquisitions Mergers

VALN

Valneva SE (NASDAQ:VALN) sold an FDA Priority Review Voucher for $103 million, awarded for the approval of Ixchiq, the first licensed chikungunya vaccine. The proceeds will fund R&D, including Phase 3 Lyme disease vaccine trials and further chikungunya vaccine trials. Valneva reported positive 24-month antibody persistence data for Ixchiq. The global market for chikungunya vaccines is expected to exceed $500 million annually by 2032. VALN shares are down 1.11% in premarket trading.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 1:55 pm

ABBV

AbbVie Inc (NYSE:ABBV) reported Q4 earnings surpassing expectations with adjusted EPS of $2.79 and net revenues of $14.301 billion. The company also completed the acquisition of ImmunoGen, enhancing its cancer therapy portfolio. AbbVie raised its long-term revenue outlook for Skyrizi and Rinvoq, expecting over $27 billion by 2027. Analysts from Barclays and Raymond James increased their price targets for AbbVie following these results. AbbVie's stock rose 0.6% to close at $168.67.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:50 pm

OMQS

OMNIQ Corp. (NASDAQ:OMQS) has acquired CodeBlocks Ltd, a leading fintech software developer, for approximately $1.275M. This acquisition enhances OMNIQ's fintech offerings in self-service kiosks, credit card payment systems, and point-of-sale technologies. CodeBlocks' proprietary software, with over 80,000 deployments, is expected to bring immediate cost savings and market share expansion opportunities to OMNIQ.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:46 pm

CTLT

NVO

Novo Nordisk A/S (NYSE:NVO) has acquired three fill-finish sites from Novo Holdings A/S for $11 billion, as part of a deal where Novo Holdings acquires Catalent, Inc. (NYSE:CTLT). This acquisition aims to expand Novo Nordisk's manufacturing capacity for diabetes and obesity treatments, with the sites located in Italy, Belgium, and Indiana. The deal, mainly debt-financed, is expected to boost Novo Nordisk's filling capacity from 2026 and aligns with its strategy to enhance treatment accessibility for diabetes and obesity.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 1:40 pm

CENN

Cenntro Electric Group Limited (NASDAQ:CENN) shareholders have approved a scheme to redomicile the company from Australia to the United States, becoming a wholly owned subsidiary of a new U.S. entity, Cenntro Inc., incorporated in Nevada. The scheme, subject to court approval and other conditions, is expected to be implemented on February 27, 2024. This move is aimed at advancing Cenntro's position in the electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:37 pm

XTKG

X3 Holdings Co., Ltd. (NASDAQ:XTKG) announced a strategic roadmap for global expansion, targeting growth in digital technologies, bitcoin cryptomining, renewable energy, and agriculture technologies. The company plans to expand its digital trade platforms and services globally, develop bitcoin mining operations powered by sustainable energy, and pursue renewable energy projects and agriculture technologies to improve farm operations and reduce costs. CEO Stewart Lor emphasized the transformative journey and the focus on high-growth industries to drive innovation and create value.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:33 pm

SLAM

Slam Corp. (NASDAQ:SLAM) and Lynk Global, Inc. have announced a definitive business combination agreement, aiming to create Lynk Global Holdings, Inc., which will be listed on Nasdaq under the ticker symbol 'LYNK'. This merger leverages Lynk's sat2phone technology, compatible with 2G to 5G devices without modification, and aims to expand global wireless connectivity. The deal values Lynk at $800 million pre-money and is expected to close in the second half of 2024, subject to customary closing conditions and shareholder approval. The capital raised will accelerate the production of satellites and support operations, aiming to connect over two billion unconnected people worldwide.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:21 pm

DXPE

DXP Enterprises, Inc. (NASDAQ:DXPE) has acquired Kappe Associates, Inc., a leading distributor in the water and wastewater industry, to enhance its National Water & Wastewater efforts and deepen its presence in the Mid-Atlantic region. The acquisition, funded with cash from DXP's balance sheet, is expected to contribute positively to DXP's sales and EBITDA, with Kappe's last twelve months' sales and adjusted EBITDA being approximately $25.4 million and $3.8 million, respectively. This acquisition aligns with DXP's growth strategy and marks its tenth acquisition under its DXP Water efforts.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:20 pm

CBRE

CBRE Group announced its acquisition of J&J Worldwide Services for a purchase price of $800 million. This strategic move aims to expand CBRE's services in the facility management sector.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:16 pm

BABA

NXPL

NextPlat Corp has received initial approvals to launch an OPKO Health-branded storefront on Alibaba's Tmall Global platform in China, aiming to sell up to 40 health and wellness products. This move, part of an exclusive joint e-commerce development agreement with OPKO Health Europe, a subsidiary of OPKO Health, Inc., marks a strategic milestone for NextPlat in tapping into the global health and wellness market. The company plans to expand its offerings and is awaiting final Chinese regulatory approval to include veterinary and animal health products. The initiative is expected to create a new international e-commerce revenue stream for NextPlat and is supported by local online specialists and Tmall Global-preferred merchant partners.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:13 pm