Streetbeat News

Acquisitions Mergers

AGBA

AGBA Group Holding Limited and Triller Corp. have received Nasdaq approval for their merger, expected to complete on October 15, 2024. A 1-for-4 reverse stock split will be implemented to comply with Nasdaq rules, with trading on a split-adjusted basis starting October 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 4:03 pm

INVO

INVO BioScience shares rose following the announcement of its completed merger with NAYA Biosciences.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 3:51 pm

SPTN

SpartanNash (NASDAQ:SPTN) is acquiring Fresh Encounter Inc., a 49-store supermarket chain in Ohio, Indiana, and Kentucky. The acquisition will retain FEI's 2,500 employees. Terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 3:17 pm

VNDA

Vanda Pharmaceuticals has rejected a second unsolicited acquisition proposal from Cycle Group, valuing the company at $8.00 per share. The board believes the offer undervalues Vanda and is not in the best interests of shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 2:58 pm

RILY

B. Riley Financial, Inc. (NASDAQ:RILY) shares are rising after announcing the sale of its appraisal and valuations unit, Great American, to Oaktree Capital Management for $386 million. The deal is expected to close in Q4 2024, with B. Riley receiving cash and equity in the new entity.

Portfolio Pulse from Erica Kollmann

October 14, 2024 | 2:45 pm

JNJ

Johnson & Johnson is set to announce its Q3 earnings, with Wall Street expecting an EPS of $2.21 and revenue of $22.16 billion. The company recently acquired V-Wave to expand its MedTech portfolio, but this will dilute EPS in the short term. Meanwhile, a drug trial was halted, affecting its stock performance. The stock shows mixed technical signals, with potential downward pressure.

Portfolio Pulse from Surbhi Jain

October 14, 2024 | 2:14 pm

ABBV

APO

BHC

BLCO

Private equity firms TPG and Blackstone are leading the bid to acquire Bausch + Lomb, with the sale process gaining momentum. The acquisition could value Bausch + Lomb at $13-14 billion, addressing creditor concerns and potentially ranking as one of the largest private equity buyouts of the year.

Portfolio Pulse from Vandana Singh

October 14, 2024 | 2:04 pm

LBPH

H. Lundbeck A/S has agreed to acquire Longboard Pharmaceuticals, Inc for $60.00 per share, valuing the transaction at approximately $2.6 billion. The acquisition is expected to close in Q4 2024. Longboard's lead asset, bexicaserin, is under development for neurological diseases and has received FDA designations. The acquisition will diversify Lundbeck's revenue growth, with expected global peak sales of $1.5 billion to $2 billion.

Portfolio Pulse from Vandana Singh

October 14, 2024 | 1:34 pm

INVO

INVO Bioscience has completed its merger with NAYA Biosciences. The combined entity will be renamed NAYA Biosciences and will trade on NASDAQ under the ticker 'NAYA'. The company will focus on fertility, oncology, and autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 1:25 pm

RILY

B. Riley Financial's shares rose following the announcement of the sale of its appraisal and valuations unit, Great American, to Oaktree Capital for $386 million.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 1:01 pm