Streetbeat News

Acquisitions Mergers

INFY

Infosys Ltd (NYSE:INFY) has announced a definitive agreement to acquire InSemi, a semiconductor design and embedded services provider. The financial terms of the deal were not disclosed. This acquisition is aimed at bolstering Infosys' Engineering R&D capabilities and underscores its commitment to assisting global clients with digital transformation.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 10:48 am

BITF

BTBT

BTDR

CAN

HIVE

HUT

IRBT

NUKK

TGAN

WULF

In Thursday's pre-market session, U.S. stock futures were up, with Nasdaq futures gaining about 50 points. Transphorm, Inc. (TGAN) saw a significant rise after Renesas Electronics announced plans to acquire the company at $5.10 per share in cash, causing TGAN shares to surge 30.6% to $4.95. Other stocks experiencing gains included Canaan Inc. (CAN), TeraWulf Inc. (WULF), Bitdeer Technologies Group (BTDR), Nukkleus Inc (NUKK), Bitfarms Ltd (BITF), Bit Digital, Inc. (BTBT), Hut 8 Corp. (HUT), iRobot Corporation (IRBT), and HIVE Digital Technologies Ltd. (HIVE), largely due to strength in Bitcoin prices and regulatory developments.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 10:00 am

HPE

JNPR

Hewlett Packard Enterprise Co's CEO Antonio Neri is confident that the company's $14 billion acquisition of Juniper Networks Inc will face no significant regulatory hurdles in China. Despite Juniper's undisclosed revenue from China, Neri believes the small footprint will avoid complications. The deal is expected to enhance HPE's AI computing offerings and is anticipated to close within 9-12 months. Juniper's stock has risen about 20% after a 52-week low in October, benefiting from technological advancements and new deployments in Asia.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 9:35 am

ARKB

BLK

Ark Invest, led by Cathie Wood, has teased potential investors about its Bitcoin ETF in partnership with 21Shares, following SEC's nod for its application. The firm is offering a fee waiver for the first six months or until the fund reaches $1 billion in AUM, with a reduced expense ratio of 0.21% thereafter. BlackRock has also cut fees for its iShares Bitcoin Trust to compete in the market. The SEC's decision on the Spot Bitcoin ETF approval is highly anticipated.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 7:48 am

TGAN

Renesas Electronics Corporation is set to acquire Transphorm, Inc. for $5.10 per share in cash. This acquisition values Transphorm at approximately $339 million and represents a significant premium over its recent trading prices. The deal will enhance Renesas's power semiconductor portfolio with Transphorm's GaN technology, which is crucial for various fast-growing markets including electric vehicles and renewable energy.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:19 am

TRI

Thomson Reuters Corporation has announced a tender offer to acquire all shares of Pagero Group AB for SEK 40 per share in cash, totaling approximately SEK 6.4 billion. The offer is contingent on over 90% shareholder acceptance and represents a premium over recent trading prices and Vertex's previous offer. The acceptance period is set to start on January 12, 2024, with settlement expected around February 16, 2024, if conditions are met.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:15 am

HGV

Hilton Grand Vacations Inc. (NYSE:HGV) has priced a private offering of $900 million in 6.625% senior secured notes due 2032 to finance its proposed acquisition of Bluegreen Vacations Holding Corporation. The notes will mature on January 15, 2032, and the offering is expected to close on January 17, 2024, subject to customary closing conditions. The offering is exempt from the registration requirements of the Securities Act of 1933.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:47 am

ARKW

TSLA

Elon Musk, CEO of Tesla and SpaceX, discussed Bitcoin during an X Space event, expressing openness to using Bitcoin on X but maintaining a passive stance towards it. He compared Bitcoin to gold and noted it's not suitable for payments. Musk revealed personal holdings in Dogecoin and SpaceX's investment in Bitcoin. The SEC approved the ARK 21Shares Bitcoin ETF, which will start trading with a reduced expense ratio and a fee waiver incentive. Musk also commented on Dogecoin in response to the SEC's tweet about Bitcoin Spot ETFs. Bitcoin's value rose to $47,500 following the news.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 4:52 am

GBTC

The SEC approved Bitcoin ETFs, leading to a surge in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The approval follows a court ruling against the SEC's previous rejection of Grayscale's spot ETF proposal. The market anticipates further growth in cryptocurrencies, with predictions of Bitcoin reaching $100K. The overall crypto market cap stands at $1.70 trillion, with a slight decrease in the past 24 hours. Stocks closed higher as investors await inflation data and earnings reports.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 2:52 am

BTCUSD

ETHUSD

Edward Snowden praised the SEC's approval of Bitcoin ETFs, highlighting the potential for computers to empower individuals. He suggested that the political stance on cryptocurrencies might improve as they begin to support pension funds and retirement accounts. The approval is seen as a significant step in merging traditional finance with the cryptocurrency market. At the time of the article, Bitcoin and Ethereum saw price increases of 0.7% and 9.29%, respectively.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 12:18 am