Streetbeat News

Acquisitions Mergers

TTE

TotalEnergies SE (NYSE:TTE) and Corio Generation won a 20-year contract from New Jersey to supply 1.34 GW of renewable electricity. The Attentive Energy Two project, a joint venture between TotalEnergies (70%) and Corio (30%), will power over 650,000 homes and is expected to be commissioned in 2031. The project guarantees profitability with a set OREC revenue price and a 30% IRA tax credit. TotalEnergies also recently acquired Kyon Energy and partnered with European Energy for Nordic offshore wind projects. TTE shares rose 1.53% to close at $64.24.

Portfolio Pulse from Lekha Gupta

January 25, 2024 | 10:34 am

PARA

David Ellison has made a preliminary offer to acquire National Amusements, which would give him control over Paramount Global. The move could potentially reshape the media landscape, as National Amusements holds a significant stake in Paramount Global.

Portfolio Pulse from Charles Gross

January 25, 2024 | 10:09 am

DIS

Zee Entertainment, an Indian media company, has informed Disney that it will not proceed with the deal to pay approximately $1.4 billion for the cricket TV rights that it had acquired. This decision could have implications for Disney's financial and strategic plans in the Indian market.

Portfolio Pulse from Charles Gross

January 25, 2024 | 10:06 am

HLN

Yellow Wood Partners' Suave Brands has agreed to acquire the ChapStick brand from Haleon. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:57 am

CRWD

HPE

JNPR

MSFT

Hewlett Packard Enterprise Co (NYSE:HPE) reported a breach in its cloud-based email system by a suspected nation-state actor, identified as Midnight Blizzard or Cozy Bear. This follows a similar incident at Microsoft Corp (NASDAQ:MSFT). Crowdstrike Holdings Inc (NASDAQ:CRWD) CEO commented on the cybersecurity challenges posed by Russian hackers. HPE's ongoing acquisition talks with Juniper Networks, Inc. (NYSE:JNPR) could be affected by the security breach.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 7:30 am

SVM

Silvercorp Metals has received conditional approval from the Toronto Stock Exchange for the listing of shares to be issued in its off-market takeover offer for all shares of OreCorp Limited not already owned by Silvercorp. The offer includes 0.0967 Silvercorp common shares and A$0.19 cash per OreCorp share.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:01 am

BRK

KO

NFLX

NKE

Berkshire Hathaway Inc. has completed the acquisition of the remaining 20% of Pilot Travel Centers, with total spending likely over $13 billion. Pilot, ranked as the nation's fifth-largest private company by Forbes, generated an estimated $70 billion in revenue in 2022, outperforming Nike, Coca-Cola, and Netflix. Despite a 23% revenue drop in 2023 due to lower fuel prices and sales volumes, Pilot remains significant for Berkshire's future earnings. The acquisition followed a legal dispute over alleged buyout terms violation, which was resolved in early January.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 5:30 am

AAPL

TSM

Apple Inc. has reportedly booked the majority of Taiwan Semiconductor Manufacturing Company Ltd.'s initial 2nm chip production, set to begin in 2025. These chips are speculated to be used in Apple's iPhone 17 Pro lineup. TSMC's 2nm technology is expected to be the most advanced in terms of density and energy efficiency.

Portfolio Pulse from Ananya Gairola

January 25, 2024 | 2:06 am

KKR

TIGO

Tigo Colombia, a subsidiary of Millicom, has agreed to sell approximately 1,100 wireless communications towers to affiliates of investment funds managed by KKR. The terms of the deal were not disclosed. KKR intends to lease the towers back to Tigo Colombia to support its wireless networks, in partnership with NEXO LatAm, a platform aiding KKR's infrastructure strategy in Latin America.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:59 pm

XELB

Xcel Brands has announced a 30% investment in ORME, a New York-based short-form video marketplace. ORME focuses on content created by shoppers, creators, influencers, and brands in the digital space. The platform was co-founded by Xcel Brands and KonnectBio, Inc. No financial terms of the investment were disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 10:27 pm