Streetbeat News

Acquisitions Mergers

LTHM

Livent Corp (NYSE:LTHM) shares have seen volatility with a recent rally cooling off. After a downtrend since July, the stock picked up in December, possibly due to favorable macroeconomic conditions. It surged over 34% but faced a pullback as December ended. Shareholders approved a merger with Allkem Limited, and an analyst from Mizuho raised the price target from $15 to $20, maintaining a Neutral rating. Despite ending 2023 strongly, Livent struggled in the new year with rising U.S. Treasury yields. On Wednesday, the stock dropped 13%, with trading volume significantly higher than average. LTHM closed at $16.50, down 8.61%.

Portfolio Pulse from Ryan Gustafson

January 03, 2024 | 10:55 pm

DPLS

GSD

Global System Dynamics (GSD) has been granted a conditional extension by the Nasdaq Hearings Panel to remain listed on Nasdaq. The extension is contingent on GSD addressing SEC comments on its Form S-4 by January 19, 2024, and completing its business combination with DarkPulse, Inc (DPLS) by April 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 10:15 pm

GOLD

Barrick Gold Corporation (NYSE:GOLD) is considering a takeover of First Quantum Minerals (TSE: FM) to expand its copper mining operations. First Quantum has been struggling, with its share price dropping over 60% through 2023, and faced operational issues in Panama leading to the closure of the Cobre Panama mine. Barrick's CEO, Mark Bristow, has been in talks with First Quantum's major investors, despite an earlier rejection of an informal takeover offer by First Quantum in June 2023. Barrick is looking to bolster its copper production, with First Quantum's market value now around $6 billion compared to Barrick's $31 billion.

Portfolio Pulse from Stjepan Kalinic

January 03, 2024 | 9:48 pm

CAN

CIFR

SDIG

Canaan Inc. (CAN) has secured follow-on purchase orders for over 17,000 Bitcoin mining machines from Cipher Mining Inc. (CIFR) and Stronghold Digital Mining, Inc. (SDIG). Cipher's JV entities bought 16,700 A1466 model Avalon Miners, while Stronghold purchased 1,100 A1346 model Avalon Miners. Both companies have previously installed Canaan's machines at their facilities, and the new orders will be delivered in 2024. The CEOs of Canaan, Cipher, and Stronghold expressed positive sentiments about the partnerships and the performance of Canaan's mining technology.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:35 pm

VSAC

VSACU

Vision Sensing Acquisition, a SPAC company, has extended its deadline to complete an initial business combination to February 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:33 pm

CR

Crane Company has acquired Vian Enterprises for $103 million on a cash-free and debt-free basis, expanding its portfolio and potentially increasing its market share.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:31 pm

BRN

West Maui has terminated the purchase agreement with Barnwell Industries according to a notice sent by the law firm representing West Maui, as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:29 pm

TNXP

Sabby Volatility Warrant Master Fund, Ltd. has reported a 9.99% stake in Tonix Pharmaceuticals as of December 31, 2023, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:28 pm

WMB

Williams (NYSE:WMB) has completed the acquisition of a natural gas storage asset portfolio from an affiliate of Hartree Partners LP for $1.95 billion. The assets include six storage facilities in Louisiana and Mississippi, 230 miles of gas transmission pipeline, and 30 pipeline interconnects. The acquisition is expected to enhance Williams' transportation network to meet the growing demand for natural gas, particularly for LNG exports and power generation. The facilities have a total capacity of 115 Bcf and are among the highest in injection and withdrawal capacity in the U.S.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:22 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) announced plans to separate its Concentra business into an independent, publicly traded company. The separation, expected to be tax-free for Select Medical and its stockholders, is planned for late 2024. Stockholders will retain shares of Select Medical and receive a pro rata distribution of Concentra stock. The separation is subject to conditions including market conditions, financing transactions, IRS ruling, and board approval. J.P. Morgan is the financial advisor and Dechert LLP is the legal counsel for the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:18 pm