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Acquisitions Mergers

DTIL

TGTX

Precision Biosciences (DTIL) has entered into an agreement with TG Therapeutics (TGTX) for the exclusive license of Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases and other indications outside of cancer. Precision received an initial $7.5M, part of a total of $17.5M in upfront and near-term payments. The deal includes TG Therapeutics purchasing 2,920,816 shares of Precision common stock at $0.77 per share.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:07 pm

BMY

Bristol Myers Squibb (BMY) and Rayzebio have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, related to BMY's deal to acquire Rayzebio for $62.50 per share, announced on February 9.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:02 pm

MLM

Martin Marietta Materials (MLM) has agreed to purchase 20 active aggregates operations located in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries for $2.05 billion in cash. This acquisition, along with the recent purchase of Albert Frei & Sons, Inc. in Colorado, adds about 1 billion tons of high-quality reserves to MLM's portfolio and is expected to generate over $180 million in annualized EBITDA.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:58 am

F

Ford Motor Co has started delivering its F-150 Lightning electric pickup trucks in Norway, marking its entry into the European market. This move comes as Ford faces a demand slowdown in its home market and aims to expand globally. Despite planning to increase production, Ford has reduced its targets due to decreased demand and anticipates widening losses in its electric vehicle segment, projecting losses of $5 billion to $5.5 billion this year.

Portfolio Pulse from Anan Ashraf

February 12, 2024 | 11:49 am

SHEL

Shell (NYSE:SHEL) announced the closure of its hydrogen light-duty passenger fueling stations in California due to supply chain issues and external market factors. This decision, which includes the permanent closure of seven stations, reduces California's hydrogen fueling options by 12% and marks a significant setback for the state's green mobility initiatives. Shell's move aligns with its broader strategy to scale down low-carbon operations, including a 15% workforce reduction in its low-carbon solutions division and the sale of its share in the Schwedt refinery.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 11:12 am

FANG

Diamondback Energy and Endeavor Energy Resources have agreed to merge in a deal valued at around $26 billion, including Endeavor's net debt. This strategic move is expected to create significant value for shareholders by combining the strengths of both companies.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:01 am

CG

Carlyle Group (CG), Stellex Capital Management, and Man GLG have agreed to sell Officine Maccaferri to Ambienta. The financial terms were not disclosed. The sale is pending regulatory approvals.

Portfolio Pulse from Charles Gross

February 12, 2024 | 9:48 am

ASML

TSM

China's Semiconductor Manufacturing International Corp (SMIC) has made progress in developing advanced chips despite US sanctions, producing a 7-nanometer chip for Huawei's Mate 60. SMIC is now working on 5-nanometer chips, facing challenges due to reliance on older equipment, leading to higher costs and lower yields compared to Taiwan Semiconductor Manufacturing Co Ltd (TSM). SMIC's advancements come amid US efforts to restrict China's semiconductor progress, including stringent restrictions on chip equipment procurement.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 8:51 am

SAP

SAP SE's Supervisory Board has nominated Pekka Ala-Pietilä as the new member and potential successor to Chairman Hasso Plattner. Ala-Pietilä will be up for election at the next Annual General Meeting for a two-year term. Additionally, Punit Renjen will resign from the SAP Supervisory Board due to differing views on the role of the chair, effective May 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 7:02 am

BYDDF

LI

Chinese EV traders are exploiting a loophole that allows the export of new cars as secondhand, bypassing trade barriers. This tactic has enabled the export of popular models from BYD Co and Li Auto to markets like Russia, Kazakhstan, and Saudi Arabia, despite a 25% tariff on Chinese auto imports by the US. The demand for Chinese EVs is rising globally, leading to strategic discussions among China's top automakers.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 5:57 am