Streetbeat News

Acquisitions Mergers

ACRXF

HAYN

Haynes International Inc (NASDAQ:HAYN) has agreed to be acquired by North American Stainless, a subsidiary of Acerinox SA (OTC:ACRXF), for approximately $970 million. The all-cash deal values Haynes at $61.00 per share, a 9% premium over its last closing price. The acquisition, expected to close in Q3 2024, will result in Haynes delisting from the Nasdaq. Haynes' CEO highlighted a $200 million investment into the U.S. operations post-acquisition.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 11:38 am

HBB

Hamilton Beach Brands Holding Company (HBB) has acquired HealthBeacon PLC, a medical technology firm. This move is part of HBB's strategy to expand in the home health and wellness market. HealthBeacon, known for developing connected devices for managing injectable medication for chronic conditions at home, was already a strategic partner of HBB. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 11:37 am

YNDX

Yandex N.V. (NASDAQ:YNDX), a Dutch holding company, has agreed to sell its Russian and certain international businesses for approximately $5.21 billion. The sale, which is subject to a mandatory 50% discount as per Russian government regulations for foreign asset sales, includes the company's cash balance and Class A shares. The divestiture is expected to close in two phases in 2024, with Yandex planning to focus on four international business lines post-sale. This move comes after Yandex received a delisting notice from Nasdaq last year.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 11:14 am

CTLT

NVO

Novo Nordisk has agreed to acquire three fill-finish sites from Novo Holdings as part of a transaction related to Novo Holdings' acquisition of Catalent, Inc. for $11B. These sites, located in Italy, Belgium, and the US, are specialized in sterile drug filling and employ over 3,000 people. This acquisition aligns with Novo Nordisk's strategy to expand its manufacturing capacity to support its diabetes and obesity treatments, with expected capacity increases from 2026.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 11:11 am

CTLT

Novo Holdings is set to acquire Catalent, Inc. (NYSE:CTLT) for $63.50 per share, valuing the company at $16.5 billion. This all-cash transaction marks a significant move in the development and supply sector for patient treatments.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 11:02 am

CHEA

Chenghe Acquisition Corp. (CHEA) shares surged 72% in premarket trading following the approval of a merger agreement with Taiwan Color Optics by its shareholders on Friday. This significant increase reflects investor optimism about the merger's potential benefits.

Portfolio Pulse from Charles Gross

February 05, 2024 | 10:32 am

RNSDF

STLA

Stellantis Chairman John Elkann has publicly stated that the company has no plans for mergers and acquisitions, specifically addressing rumors about a potential merger with Renault.

Portfolio Pulse from Charles Gross

February 05, 2024 | 9:50 am

NOK

Nokia has entered into a multi-year patent cross-license agreement with vivo, under which vivo will make royalty and catch-up payments to Nokia. This agreement resolves all pending patent litigation between the two companies across all jurisdictions. The financial terms of the agreement were not disclosed.

Portfolio Pulse from Charles Gross

February 05, 2024 | 9:44 am

HAYN

Haynes International, Inc. (HAYN) has agreed to be acquired by North American Stainless, a subsidiary of Acerinox, for $61.00 per share in an all-cash deal valued at approximately $970 million. This acquisition price represents a 22% premium over Haynes' six-month volume-weighted average share price as of February 2, 2024. Acerinox plans to invest an additional $200 million in its U.S. operations, including $170 million into Haynes' operations.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 8:04 am

LVMHF

LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMHF) has launched a new watch division aiming to capture a larger share of the global luxury watch market, projected to reach $37 billion by 2032. The company's jewelry and watch division recorded $11.8 billion in sales in 2023, with a 7% organic growth. Frederic Arnault has been appointed as the CEO of LVMH Watches, overseeing brands like TAG Heuer, Hublot, and Zenith. This move follows a significant restructuring within LVMH and aims to revitalize the company's focus on luxury watches amidst challenges in the luxury retail industry.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 6:36 am