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Acquisitions Mergers

IONS

Vect-Horus has signed a license agreement with Ionis Pharmaceuticals for the systemic delivery of RNA-targeted medicines for neurological diseases. Vect-Horus has received a double-digit million-dollar upfront payment and is eligible for milestone payments and royalties.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:12 pm

APH

CSL

Carlisle Companies Incorporated has signed a definitive agreement to sell Carlisle Interconnect Technologies to Amphenol Corporation for $2.025 billion. The sale is subject to regulatory approvals and is expected to close by the end of Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:11 pm

ACBA

Ace Global Business Acquisition Limited (ACBA), a SPAC, announced that its Sponsor has deposited $98,858.95 into the Trust Account to extend the deadline for a business combination by one month, from February 9, 2024, to March 8, 2024. This deposit, representing about $0.05 per share, allows more time to complete a business combination. In return, the Company issued a promissory note to the Sponsor, convertible into units at $10.00 per unit upon a business combination.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:09 pm

AMC

JBT

NOC

PCOR

Jim Cramer discussed several stocks on CNBC's 'Mad Money Lightning Round.' He praised John Bean Technologies (JBT) for its global industrial food focus and upcoming voluntary takeover offer for Marel. Cramer showed readiness to invest in Northrop Grumman (NOC) after its Q4 sales growth and EPS beat, despite a net loss. He advised against AMC Entertainment (AMC), despite its record-breaking Taylor Swift concert film, and labeled Procore Technologies (PCOR) as 'very, very expensive,' suggesting to cash in on it. Keybanc raised PCOR's price target.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 1:05 pm

AVRO

AVROBIO, Inc. (AVRO) has announced an all-stock transaction to acquire 100% of the outstanding equity interests of Tectonic Therapeutic. The merger will result in AVROBIO expanding its pipeline with Tectonic's innovative technology platform.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 1:04 pm

TSLA

VFS

VinFast Auto Ltd. (VFS) is expanding its presence in the U.S. by building a $4 billion EV factory in North Carolina, challenging Tesla Inc. (TSLA). Despite Tesla's strong performance in 2023, its stock has declined by 16% in 2024. VinFast's stock surged by 1414.7%, indicating investor confidence. VinFast's CEO Pham Nhat Vuong, also the founder of VinGroup, has taken over as CEO to lead the company's growth.

Portfolio Pulse from Caleb Naysmith

January 30, 2024 | 1:00 pm

LHX

NOC

The Pentagon is facing challenges in advancing its weaponry due to defense contractors' reluctance to take on high-risk projects with potential financial losses. Northrop Grumman Corporation (NOC) incurred a $1.2 billion charge for the B-21 Raider bomber, impacted by inflation, supply chain issues, and labor shortages. L3Harris Technologies Inc (LHX) and others are cautious about cost-plus contracts that shift to fixed-price deals, making them liable for overruns. This hesitancy could affect the U.S.'s competitive edge in military and space capabilities.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 12:50 pm

BAYRY

BAYZF

An Australian court is nearing a decision in a class action lawsuit against Bayer AG, alleging that its weedkiller Roundup causes cancer. This is the first case of its kind in Australia to reach this stage, with over 1,000 claimants. Bayer has already faced over 50,000 claims in the U.S. and recently was ordered to pay $2.2 billion in a Pennsylvania case. The outcome of the Australian case could set a precedent and lead to significant compensation, although likely less than U.S. cases. Bayer acquired Monsanto, the producer of Roundup, in 2018 and has been dealing with legal challenges since.

Portfolio Pulse from Vandana Singh

January 30, 2024 | 12:49 pm

TSLA

VWAGY

Volkswagen AG (OTC:VWAGY) has postponed the sale of a stake in its battery unit, PowerCo, and its IPO due to a slowdown in the EV market. The company's preference shares fell by 1% after the news. VW is reevaluating its long-term funding plans for PowerCo, which was established to compete with Tesla Inc. (NASDAQ:TSLA) in the EV sector. Despite the delay, VW aims to be ready for investors from 2024. The EV market's slowdown is evident with VW-backed JAC's Yiwei EV, the first to use a sodium-ion battery, set to deliver in 2024, and QuantumScape Corp.'s shares, which VW is partnering with for solid-state batteries, pulling back after initial gains.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 12:19 pm

TARO

Krensavage Asset Management, the largest minority shareholder of Taro Pharmaceutical Industries Ltd. (NYSE:TARO), has expressed opposition to Sun Pharmaceutical Industries Ltd.'s bid to acquire Taro. Krensavage deems the offer inadequate and has communicated this stance to the special committee evaluating the bid.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:07 pm