Streetbeat News

Acquisitions Mergers

BITW

BTF

IVZ

WETF

Ahead of the SEC's decision on spot Bitcoin ETFs, Invesco, Bitwise, Valkyrie, and WisdomTree have announced fee reductions in their latest ETF applications. Bitwise now offers 0.20%, Invesco 0.39%, Valkyrie 0.49%, and WisdomTree 0.30%. These cuts are strategic moves to attract more investment and expand market reach as competition intensifies. The SEC's decision is expected on Wednesday, Jan. 10, the same deadline for the Ark 21Shares Bitcoin ETF application.

Portfolio Pulse from Khyathi Dalal

January 10, 2024 | 12:00 am

INTC

Intel has agreed to acquire Silicon Mobility, a fabless company specializing in System on Chips (SoCs) for electric vehicle (EV) energy management. This acquisition aligns with Intel's strategy to expand its reach in the automotive and EV sectors, leveraging Silicon Mobility's expertise to enhance its product offerings in these rapidly growing markets.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:02 pm

IRRX

Integrated Rail and Resources Acquisition Corp. (IRRX) has announced its intention to extend the deadline to complete a business combination to February 15, 2024. This extension provides additional time for IRRX to finalize a merger or acquisition, which is a common practice for special purpose acquisition companies (SPACs) seeking to consolidate with target companies.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:56 pm

HPE

JNPR

HPE's acquisition of Juniper is expected to be accretive to its non-GAAP EPS and free cash flow in the first year after closing. The deal enhances HPE's shift towards higher-growth solutions and bolsters its high-margin networking business, aligning with its strategy for sustainable profitable growth. It is anticipated to accelerate long-term revenue growth and expand gross and operating margins.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:54 pm

HPE

JNPR

Hewlett Packard Enterprise (HPE) has agreed to acquire Juniper Networks (JNPR) in an all-cash transaction valued at approximately $14 billion, or $40.00 per share. This acquisition is expected to enhance HPE's networking capabilities.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:49 pm

ICCT

iCoreConnect Inc. (NASDAQ:ICCT) has announced the strategic acquisition of Verifi Dental, a move aimed at expanding its SaaS software solutions in the healthcare market. The financial terms of the deal were not disclosed. The acquisition is expected to enhance iCoreConnect's capabilities, broaden its market presence, and improve value to customers and stakeholders. The merger will combine the strengths of both companies, positioning iCoreConnect as a significant player in the insurance verification sector and providing operational efficiencies and additional products and services.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:40 pm

EPM

Evolution Petroleum Corporation (NYSE:EPM) has announced the acquisition of non-operated oil and gas assets in Oklahoma from Red Sky Resources and Coriolis Energy Partners for $43.5 million. The assets include approximately 1,550 BOEPD production, 230 producing wells, and 3,700 net acres with over 300 undeveloped locations. The acquisition is expected to be highly accretive to key valuation metrics and self-funding, generating incremental cash flow to support the company's dividend. The transaction will be funded with cash and borrowings from EPM's credit facility, with net debt remaining within targeted leverage post-transaction.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:24 pm

GLLI

GLLIU

Globalink Investment has extended the deadline to complete its business combination to February 9, 2024. This extension provides additional time for Globalink to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:23 pm

FRLA

OTHER

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) has appointed Ryan Spick as the new Principal Executive Officer and Chief Financial Officer. Spick, who has a background in real estate projects, will lead the proposed business combination with Water on Demand, Inc., a subsidiary of OriginClear, Inc. (OTC:OTHER). Spick replaces Richard Brand, who is leaving for other projects, and Beau Vuillemot has taken Spick's place on the FRLA Board.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:20 pm

CNM

Core & Main has signed an agreement to acquire Eastern Supply, although the financial terms of the deal have not been disclosed. This acquisition could potentially expand Core & Main's market reach and product offerings.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:17 pm