Streetbeat News

Acquisitions Mergers

SNY

Sanofi is reportedly set to sign a deal with Clayton, Dubilier & Rice (CD&R) for its consumer health unit this weekend. This move is part of Sanofi's strategy to focus on its core pharmaceutical business.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 5:41 pm

SNY

Sanofi is negotiating the sale of a 50% stake in its consumer healthcare business, Opella, with CD&R, while PAI Partners has increased its bid. The French government may block the sale due to national interests. Sanofi's stock was slightly down.

Portfolio Pulse from Vandana Singh

October 18, 2024 | 5:30 pm

GOOGL

GS

MS

MSFT

OpenAI's transition to a for-profit structure complicates Microsoft's $14 billion investment conversion into equity. OpenAI's valuation at $157 billion and financial strains, including a projected $5 billion loss, add tension to their partnership. Microsoft, OpenAI's largest investor, faces capped returns and rising computing costs. Both companies have hired financial advisors for negotiations.

Portfolio Pulse from Anusuya Lahiri

October 18, 2024 | 5:00 pm

MMC

Marsh & McLennan (NYSE:MMC) reported better-than-expected Q3 earnings, with EPS of $1.63 beating the consensus of $1.57. The company also announced the acquisition of McGriff Insurance Services. Analysts raised their price targets for MMC following the earnings report.

Portfolio Pulse from Avi Kapoor

October 18, 2024 | 4:22 pm

LW

Lamb Weston Holdings, Inc. (NYSE:LW) shares rose on Friday after activist investor Jana Partners acquired a 5% stake, aiming to push for a sale and improve operations. Despite recent earnings beats, the company faces challenges with declining demand and product quality issues.

Portfolio Pulse from Dylan Berman

October 18, 2024 | 3:58 pm

TDS

TMUS

USM

VZ

US Cellular (USM) is selling spectrum licenses to Verizon (VZ) for $1 billion, boosting USM shares by 11.9%. TDS, the majority shareholder, approved the deal. US Cellular plans further spectrum sales and retains significant spectrum assets. These transactions align with a larger sale to T-Mobile (TMUS) planned for 2024.

Portfolio Pulse from Lekha Gupta

October 18, 2024 | 2:35 pm

USM

VZ

United States Cellular shares rose following the announcement of selling part of its spectrum licenses to Verizon for $1 billion.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 1:03 pm

FMCX

KKR

LBO

Fuji Soft's board has chosen KKR's $3.72 billion buyout offer over a higher bid from Bain Capital. KKR's offer represents a significant premium over Fuji Soft's average stock price. KKR has a strong presence in Japan, managing $18 billion in assets. Investors can gain exposure through ETFs like FMCX and LBO.

Portfolio Pulse from Akanksha Bakshi

October 18, 2024 | 12:50 pm

LW

Lamb Weston shares are rising as activist investor Jana Partners acquires a 5% stake, potentially pushing for a company sale.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 12:43 pm

LW

Jana Partners, in collaboration with Continental Grain, has acquired a 5% stake in Lamb Weston and may push for a sale and board seats. This activist move could lead to significant changes in the company's strategic direction.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2024 | 12:42 pm