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Acquisitions Mergers

BHG

Bright Health Group announced an amendment to its credit facility and the upcoming closure of the sale of its California Medicare Advantage business, which is expected to strengthen its capital position.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:49 am

FLJ

FLJ Group Ltd (NASDAQ:FLJ) shares surged 93% after announcing the completion of the acquisition of Alpha Mind Technology Limited and the termination of the Lianlian buyout. The acquisition was made for $180 million, paid as a promissory note with a 3% annual interest rate, making Alpha Mind a wholly-owned subsidiary of FLJ. Concurrently, FLJ terminated its previous acquisition deal with Lianlian Holdings. FLJ's stock price increased to $2.61 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 11:42 am

NMRK

Newmark Group has facilitated the sale of a 1.1-million-square-foot office building in Downtown Los Angeles for $153.5 million. The transaction showcases Newmark's role in significant real estate deals.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:17 am

KAI

Kadant Inc (NYSE:KAI) has announced the acquisition of Key Knife, Inc. for approximately $156 million in cash. Key Knife, a supplier of engineered knife systems for the wood product industry, reported $65 million in revenue for the trailing twelve months ended September 30, 2023. The acquisition, expected to close in early January 2024, will be financed primarily through Kadant's revolving credit facility. Kadant's cash position as of September 30 was $79.1 million. KAI shares dropped slightly by 0.40% to close at $284.23.

Portfolio Pulse from Lekha Gupta

December 29, 2023 | 11:07 am

BSTG

KAI

TTNP

Kadant Inc. plans to acquire Key Knife, Inc. for $156 million in cash. Titan Pharmaceuticals announces a 1-for-20 reverse stock split. BioSig Technologies files for a mixed shelf of up to $75 million. SM Energy raises its quarterly dividend from $0.15 to $0.18 per share. Pintec Technology reports a revenue decline and a significant reduction in net loss for the first half of 2023.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 10:55 am

BTBT

CAN

CHRS

CIFR

CRON

FLJ

HKD

OCS

REXR

FLJ Group Limited's shares soared 94.8% in pre-market trading after completing a $180 million cash purchase of Alpha Mind Technology and terminating an equity acquisition agreement with Lianlian Holdings Inc. Other stocks such as Oculis Holding AG, Cipher Mining Inc., Coherus BioSciences, Inc., AMTD Digital Inc., Rexford Industrial Realty, Inc., Bit Digital, Inc., Cronos Group Inc., and Canaan Inc. also saw gains in pre-market trading.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 10:40 am

GRFS

Grifols has entered into a strategic alliance and share purchase agreement with Haier Group Corporation, selling about a 20% equity stake in Shanghai RAAS Blood Products Co., Ltd. (SRAAS) for RMB 12.5 billion, approximately $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 10:12 am

LVS

Mark Cuban sold his majority stake in the Dallas Mavericks to entities associated with Sheldon Adelson's family due to his inexperience in real estate, which he sees as vital for NBA teams' future success. The NBA approved the $3.5 billion deal, allowing Cuban to retain a smaller share and control of the team. Cuban acknowledged the new majority owners' real estate expertise as beneficial for the franchise. The sale follows the NBA Board of Governors' initiation of the sale process in December, with potential buyers including the Adelson family and Las Vegas Sands Corp. (NYSE:LVS).

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 9:36 am

FLJ

FLJ Group has completed the acquisition of Alpha Mind Technology for $180M in cash, making it a wholly-owned subsidiary. The senior management of FLJ Group will remain post-acquisition. Additionally, FLJ Group has mutually terminated a previously announced acquisition agreement with Lianlian Holdings Inc. and its shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 7:08 am

CMCSA

DIS

NFLX

PARA

WBD

Major entertainment companies Disney (DIS), Warner Bros Discovery (WBD), Comcast (CMCSA), and Paramount Global (PARA) face over $5 billion in losses from streaming services, leading to considerations of mergers and cost-cutting measures. Paramount is contemplating a sale to Skydance and a potential merger with Warner. Disney's CEO Bob Iger is considering strategic shifts, including asset disposals. Despite the industry's challenges, Netflix (NFLX) remains profitable, with a significant subscriber increase and earnings surpassing expectations.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 6:33 am