Streetbeat News

Acquisitions Mergers

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

ITA

PPA

SPR

Investors are closely watching Boeing's (NYSE:BA) acquisition of Spirit AeroSystems (NYSE:SPR) and its impact on Boeing's CEO search. Potential candidates include Spirit's CEO Patrick Shanahan, Boeing COO Stephanie Pope, and board chair Steve Mollenkopf. Shanahan's tenure at Spirit has faced challenges, including a 737 MAX incident and workforce layoffs. Boeing's stock has declined over 11% in the past year, and the acquisition is set to close by mid-2025.

Portfolio Pulse from Shivani Kumaresan

July 02, 2024 | 2:31 pm

STAA

Traders are closely monitoring STAAR Surgical (STAA) due to unconfirmed blog comments suggesting that a European group is rumored to be interested in acquiring the company.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 2:29 pm

IAC

PARA

Paramount Global (NASDAQ:PARA) shares are trading higher after reports that billionaire Barry Diller is exploring a bid to take control of the company through IAC Inc. (NASDAQ:IAC). Diller's interest follows the collapse of Paramount's near-deal with Skydance. The nondisclosure agreements between IAC and National Amusements, Paramount’s controlling shareholder, indicate serious negotiations. Other potential acquirers include Edgar Bronfman Jr. and Steven Paul. Acquiring National Amusements would grant control over Paramount and its valuable assets but also entails substantial liabilities.

Portfolio Pulse from Nabaparna Bhattacharya

July 02, 2024 | 2:05 pm

GLPEY

PBR

SHEL

XOM

Over 12 oil companies, including ExxonMobil, Shell, and Brazil's Petrobras, have shown interest in acquiring a 40% stake in Galp Energia's major offshore Namibia oil discovery. The discovery is estimated to hold 10 billion barrels of oil and gas, valued at over $10 billion.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:20 pm

NWS

Dow Jones, a division of News Corp., has acquired A2i Systems, a leader in AI-powered fuel pricing solutions. This acquisition enhances Dow Jones's energy business with advanced AI capabilities. A2i will operate as a subsidiary of OPIS within Dow Jones's energy sector.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:11 pm