Streetbeat News

Acquisitions Mergers

DTIL

TGTX

Precision BioSciences, Inc. (DTIL) has completed a strategic transaction with TG Therapeutics, Inc. (TGTX), granting TGTX an exclusive license to develop Azercabtagene Zapreleucel (azer-cel) for autoimmune diseases. The deal includes an upfront payment and potential near-term economics valued at $17.5 million, with Precision eligible for up to $288 million in future milestones and royalties on net sales. TGTX will also make an equity investment in Precision by purchasing shares at a 100% premium to the 30-day VWAP.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:05 pm

STN

Stantec, a sustainable design and engineering firm, has agreed to acquire Morrison Hershfield, an engineering and management firm known for its expertise in transportation, buildings, and environmental services. The acquisition will bolster Stantec's Canadian workforce by 10%. The deal is subject to shareholder, court, and regulatory approvals and is expected to close in Q1 2024. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:47 am

Eversource Energy (NYSE:ES) is in advanced talks to sell its 50% stake in three offshore wind projects to a global private infrastructure investor. The company will record an impairment charge of $1.4-$1.6 billion in Q4 due to revised construction costs, which will not affect future cash flows or current cash balances. Eversource will provide 2024 earnings guidance and other financial forecasts in an upcoming earnings call.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 11:44 am

CYBR

GRFS

HOLX

HPE

HRTX

JNPR

MCHP

NKTX

PRTA

SMMT

U.S. stock futures are down, with Dow Jones futures dropping about 100 points. Hewlett Packard Enterprise (HPE) shares fell 8.5% in pre-market trading amid reports of a potential acquisition of Juniper Networks (JNPR) for approximately $13 billion. Other stocks experiencing pre-market losses include Grifols (GRFS), CyberArk Software (CYBR), Summit Therapeutics (SMMT), Nkarta (NKTX), Hologic (HOLX), Microchip Technology (MCHP), Prothena Corporation (PRTA), and Heron Therapeutics (HRTX).

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 11:36 am

CTRE

CareTrust REIT has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility in California. CareTrust entered into a joint venture with a third-party investor, contributing $10.7 million in common and preferred equity, funded by cash on hand.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:04 am

GSK

GSK has agreed to acquire Aiolos Bio for a $1B upfront payment, with an additional $400M contingent on achieving certain regulatory milestones. This acquisition aims to expand GSK's respiratory biologics portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:50 am

COIN

PATH

QCOM

ROKU

Cathie Wood's Ark Investment Management paused its sell-off of Coinbase Global, Inc. (COIN) shares, after consistently selling since July 2023. Coinbase is a major holding in Ark's ETFs, including ARKK, ARKF, and ARKW. Despite the sell-off, the value of Ark's Coinbase stake increased by over $400 million due to a rally in the shares. Ark also invested $8M in Qualcomm, Inc. (QCOM) through ARKW and ARKQ, marking a re-entry after a 5-year hiatus. Additionally, Ark sold shares of Roku, Inc. (ROKU) and UiPath Inc. (PATH).

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 9:43 am

NRAC

The proposed merger between Northern Revival Acquisition Corporation (NRAC) and Braiin Limited has moved forward with the filing of registration with the SEC. This step is crucial for the merger to proceed, indicating progress in the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:01 am

TCEHY

ByteDance, the parent company of TikTok, is in discussions to sell its gaming assets, including its gaming unit Nuverse and games 'Crystal of Atland' and 'Earth: Revival', to Tencent Holdings Ltd (OTC:TCEHY). The talks follow ByteDance's decision to exit the gaming market and focus on other strategic areas. Tencent has previously advertised its game 'DreamStar' through ByteDance's ad network, indicating a warming relationship between the two companies.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 6:26 am

CSCO

HPE

JNPR

Hewlett Packard Enterprise Co (NYSE:HPE) is in advanced talks to acquire Juniper Networks, Inc. (NYSE:JNPR) for about $13 billion, which has led to a surge in Juniper's stock price. The acquisition could strengthen HPE's position against Cisco Systems Inc (NASDAQ:CSCO) in the networking equipment market. Juniper's stock had fallen by about 8% in 2023, but saw a 20% increase in November and December after reaching a 52-week low in October.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 3:17 am