Streetbeat News

Acquisitions Mergers

AAPL

ASML

SSNLF

TSM

ASML Holding and Samsung Electronics Co have announced a joint investment of 1 trillion South Korean won ($760 million) in a new semiconductor facility in South Korea. This move is part of a broader 'semiconductor alliance' between South Korea and the Netherlands, coinciding with South Korean President Yoon Suk-yeol's visit to the Netherlands. ASML, the only producer of EUV lithography machines used in advanced chip manufacturing, will also collaborate with SK Hynix on hydrogen gas recycling technology. The alliance aims to strengthen the global semiconductor supply chain amid geopolitical risks.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 12:17 pm

APO

WBA

Walgreens Boots Alliance Inc (NASDAQ:WBA) is revisiting the idea of separating from its U.K. drugstore chain, Boots, with a potential valuation of £7 billion. Options include a sale or an IPO in London. The company announced store closures in its Q3 earnings call, aiming to 'optimize' locations. The separation process may start next year, with previous divestiture efforts having been halted in June 2022 due to valuation issues in a tough credit market. Apollo Global Management, Inc. (NYSE:APO) was involved in a previous bid for Boots. Walgreens' strategic focus remains on expanding healthcare services in North America. WBA shares saw a slight increase in premarket trading.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 11:53 am

PFE

Pfizer has provided its FY24 adjusted diluted EPS guidance range of $2.05-$2.25, which includes the expected impact of the Seagen acquisition. This guidance is significantly lower than the consensus estimate of $3.17.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 11:52 am

PFE

Pfizer projects FY24 revenues of $58.5B-$61.5B, factoring in contributions from its Seagen acquisition and reclassification of royalty income. This forecast falls short of the consensus estimate of $63.17B. Expected revenues include $8B from Comirnaty and Paxlovid, and $3.1B from Seagen.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 11:49 am

IART

JNJ

Integra LifeSciences has agreed to acquire Acclarent from Ethicon, a Johnson & Johnson MedTech company, for $275 million in cash and an additional $5 million in milestones. The acquisition will be integrated into Integra's Codman Specialty Surgical division, enhancing its strategic interest in the ENT category and complementing its neurosurgery segment. The transaction is anticipated to be accretive to Integra's financials, with detailed guidance to be provided upon closing.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 11:18 am

DQ

Xinjiang Daqo, a subsidiary of Daqo New Energy, has entered into an investment agreement to establish a new project for polysilicon and silicon metal production. This move aims to integrate the upstream supply chain for the company.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 11:01 am

IOAC

Shares of Innovative International Acquisition Corp. (IOAC) surged 34% in premarket trading after the company announced in a filing on Tuesday that a meeting to approve a business combination with Zoomcar is scheduled for December 19, 2023.

Portfolio Pulse from Charles Gross

December 13, 2023 | 10:56 am

VERX

Vertex (VERX) has proposed to acquire e-invoicing company Pagero for $555 million to enhance its global tax compliance leadership. The offer includes a significant premium over Pagero's recent share prices and is financed in part by a strategic investment from Silver Lake. The acquisition aims to create a comprehensive global platform for customers to improve efficiency and comply with new mandates. The offer period is set to start around December 15, 2023, and end on January 23, 2024, with settlement expected around February 1, 2024, subject to regulatory approvals and tender of over 90% of Pagero's shares.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:01 am

LCW

Learn CW Investment Corporation, a SPAC, has announced its intention to extend the period to consummate its initial business combination by one month to January 13, 2024. This is achieved by depositing $150,000 into its trust account, marking the third of up to twelve possible one-month extensions as per the company's amended governing documents.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:53 am

TSLA

Tesla Inc (NASDAQ:TSLA) has received land-use permits for a new gigafactory in Nuevo Leon, Mexico. The state government announced the decision, with the plant covering 261 hectares. The project is estimated to cost over $5 billion, with the local government committing over $130 million to infrastructure support. The factory is expected to generate $15 billion over two years through Tesla and its suppliers. Tesla's expansion into Mexico is part of its global growth strategy and aligns with the nearshoring trend. Despite economic uncertainty, Tesla's market share remains strong, especially in China, where it saw a 4.8% year-over-year increase in new energy vehicle sales in November.

Portfolio Pulse from Benzinga Neuro

December 13, 2023 | 5:34 am