Streetbeat News

Acquisitions Mergers

DT

Dynatrace has entered into a definitive agreement to acquire Runecast, a company specializing in AI-powered security and compliance solutions. The terms of the acquisition have not been disclosed. The transaction is expected to close by the end of Dynatrace's fourth quarter, March 31, 2024, and is not anticipated to materially impact Dynatrace's financial results.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 1:03 pm

OSG

Overseas Shipholding Group (OSG) has received an unsolicited acquisition proposal from Saltchuk Resources. The offer is to acquire all outstanding shares of OSG not already owned by Saltchuk for $6.25 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 1:02 pm

CDLX

Cardlytics has settled its dispute with SRS by agreeing to pay $25 million in cash and issuing 3.6 million shares of its common stock to SRS. This resolution concludes the legal conflict between the two entities.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 12:58 pm

MSFT

SONY

Sony Group Corporation has invested in African gaming startup Carry1st to expand its gaming presence in Africa. Carry1st, based in Cape Town, South Africa, is expected to collaborate with Sony on commercial opportunities. The investment aligns with Sony's strategy to broaden PlayStation's gaming experiences across various platforms, including PC, mobile, and cloud. The African gaming industry is projected to exceed $1 billion by 2024, and Carry1st is developing original mobile games for the African market. This move comes as global gaming companies are increasingly focusing on Africa, highlighted by Microsoft's acquisition of Activision Blizzard.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 12:54 pm

HCMLY

Swiss building materials giant Holcim Ltd (OTC:HCMLY) plans to list its North American operations on the NYSE, targeting a $30 billion valuation. The spin-off is slated for completion in the first half of 2025. Miljan Gutovic will become CEO on May 1, succeeding Jan Jenisch, who will become chairman and oversee the U.S. listing. Holcim's U.S. business aims to grow annual sales from $11 billion to over $20 billion and achieve an operating profit above $5 billion by 2030.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 12:34 pm

AGFY

SAVE

SES

The article highlights three industrial stocks that are considered oversold based on their Relative Strength Index (RSI) values, suggesting potential for growth this quarter. Agrify Corporation (AGFY) announced a sales agreement with a California-based cannabis operator but saw a 33% stock decline over five days. SES AI Corporation (SES) reported a narrower-than-expected Q3 loss and is nearing a significant milestone with its automotive B-sample for Li-Metal batteries, despite an 18% stock decline over five days. Spirit Airlines (SAVE) experienced a 62% stock decline over the past month after JetBlue Airways disclosed issues with complying with provisions of their merger deal.

Portfolio Pulse from Avi Kapoor

January 29, 2024 | 12:33 pm

SNCE

Science 37 has entered into a transaction with eMed, valued at approximately $38 million in equity value. This deal marks a significant event for Science 37, potentially impacting its financial and operational outlook.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 12:31 pm

SNCE

Science 37, a clinical trials company, is set to be acquired by eMed, a digital health company. The acquisition will likely result in the integration of Science 37's capabilities with eMed's platform, potentially enhancing eMed's service offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 12:30 pm

BP

EQNR

NGG

Equinor ASA (NYSE:EQNR) and National Grid PLC (NYSE:NGG) are among the energy companies that have submitted bids to the New York State Energy Research and Development Authority (NYSERDA) for three offshore wind projects. This comes after a challenging period in 2023 with canceled contracts due to inflation, interest rates, and supply chain issues. Equinor recently gained full ownership of Empire Wind and South Brooklyn Marine Terminal from BP PLC (NYSE:BP), enhancing its position in New York's clean energy drive. Equinor expects to begin construction in the first half of this year, with the first power expected in 2026 and commercial operation by 2027.

Portfolio Pulse from Lekha Gupta

January 29, 2024 | 12:18 pm

BOOM

DMC Global Inc. has initiated a strategic alternatives process for its DynaEnergetics and NobelClad businesses. This process could include a sale, merger, divestiture, or other options to enhance shareholder value. The company has not set a definitive timeline for the completion of this process.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 12:04 pm