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Acquisitions Mergers

BA

CPCAF

CPCAY

EADSY

Cathay Pacific Airways Ltd has announced the purchase of 6 A350F aircraft from Airbus SE for $2.71 billion, with deliveries expected by the end of 2029. The deal also includes an option to buy 20 more A350 freighters. This move will enhance Cathay Pacific's fleet capacity, focusing on long-haul routes to North and South America, and Europe. The new Airbus aircraft will start being delivered in 2027, signaling a shift away from Cathay's current Boeing 747 freighter fleet. In a separate deal in September, Cathay doubled its orders for the Airbus A320neo Family to 64 aircraft for $4.66 billion. CPCAY shares saw a slight increase of 0.51% to close at $4.93 on Thursday.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 1:28 pm

POST

Post Holdings Inc (NYSE:POST) reported avian influenza outbreaks at two contracted egg farms in Iowa and Ohio, affecting 4.2 million hens, about 10% of its supply. Despite this, Post raised its FY24 adjusted EBITDA guidance to $1.22-$1.28 billion, factoring in 10 months of contributions from the acquisition of Perfection Pet Foods, completed on December 1, 2023. The guidance does not account for a significant expansion of avian influenza. POST shares closed up 0.73% at $88.06.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 1:12 pm

NETI

Cadeler A/S and Eneti Inc. have announced an extension of the share exchange offer for all outstanding shares of Eneti Inc. until December 14, 2023. Additionally, Eneti has disclosed a new loan facility, details of which were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 1:03 pm

MSFT

The UK's Competition and Markets Authority (CMA) is investigating the partnership between Microsoft Corp. (NASDAQ:MSFT) and OpenAI to determine if it has resulted in a merger situation that could affect market competition. The CMA has opened an 'Invitation to Comment' to gather public feedback and information. This inquiry comes after Microsoft obtained a non-voting observer seat on OpenAI's board. The CMA is also studying the broader impact of Foundation Models on competition and consumer protection, with an update expected in March 2024.

Portfolio Pulse from Benzinga Neuro

December 08, 2023 | 12:37 pm

CARR

HON

Carrier Global Corporation's stock is trading higher following the announcement of an agreement to sell its security business to Honeywell International Inc. for $4.95 billion.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:37 pm

PRQR

ProQR Therapeutics has sold its ophthalmic assets, Sepofarsen and Ultevursen, to Laboratoires Théa for an initial €8M with potential for up to €165M in milestone payments. This divestment could provide ProQR with immediate cash and future revenue, depending on the success of the assets.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 12:33 pm

AAPL

FXCOF

Apple Inc. (AAPL) and its suppliers, including Foxconn Technology Co., Ltd. (FXCOF), plan to manufacture over 50 million iPhones annually in India within the next two to three years. This move is expected to account for 25% of global iPhone production. The expansion includes a new Foxconn facility in Karnataka, set to begin operations in April, and a partnership with Tata Group for one of India's largest iPhone assembly plants. The developments aim to diversify production outside of China and increase market share.

Portfolio Pulse from Nabaparna Bhattacharya

December 08, 2023 | 12:00 pm

CARR

HON

Honeywell International Inc. is set to acquire the Global Access Solutions business of Carrier Global Corporation for $4.95 billion in an all-cash transaction. The purchase price is equivalent to 13 times the estimated 2023 EBITDA for the business. The transaction is expected to close in the third quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 11:51 am

DIS

META

Elon Musk's confrontational approach with boycotting advertisers, including a harsh comment directed at Disney's Bob Iger, may be having repercussions as Disney-owned ESPN's NBA insider Adrian Wojnarowski appears on Meta's Threads for a Q&A session. This move could signify a loss for Musk's platform, especially as he aims to focus on video streaming and sports content. Musk continues to criticize Iger, accusing him of mismanaging Disney, particularly in light of Meta's legal issues around child exploitation material.

Portfolio Pulse from Rounak Jain

December 08, 2023 | 11:50 am

KSS

LEVI

Levi Strauss & Co (NYSE:LEVI) announced that CEO Chip Bergh will retire on April 26, 2024. Michelle Gass, former CEO of Kohl's Corporation (NYSE:KSS), will succeed him as president and CEO starting January 29, 2024. Bergh will become executive vice chair of the board until his retirement and then serve as a senior advisor until the end of the fiscal year 2024. Bergh is credited with taking Levi Strauss public in 2019 and expanding its brand portfolio.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 11:38 am