Streetbeat News

Acquisitions Mergers

GBLI

Global Indemnity Group, LLC has halted its exploration of selling or merging its subsidiaries Penn-America and Global Indemnity. The company plans to proceed with share repurchases under its current $135 million authorization.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:07 pm

IZEA

IZEA, a company specializing in influencer marketing, has acquired Zuberance, an advocate marketing platform. The financial terms of the deal were not disclosed. This acquisition could potentially expand IZEA's offerings and strengthen its position in the market.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:04 pm

ABBV

CERE

Cerevel Therapeutics Holdings, Inc. (CERE) shares surged approximately 15% in pre-market trading after AbbVie Inc. (ABBV) announced plans to acquire Cerevel for $8.7 billion, or $45 per share in cash. The acquisition is expected to close in mid-2024. Other stocks experienced pre-market movements, with notable gainers including Hempacco Co., Inc. (HPCO), MicroAlgo Inc. (MLGO), and AerSale Corporation (ASLE), and significant losers such as ZyVersa Therapeutics, Inc. (ZVSA), Red Cat Holdings, Inc. (RCAT), and Chewy, Inc. (CHWY).

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 12:59 pm

PMTS

CPI Card Group has entered into an agreement to purchase shares of its common stock from Tricor Pacific Capital Partners (Fund IV).

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:21 pm

CSIQ

Canadian Solar Inc. has secured a contract to supply and integrate a 500 MW / 1,170 MWh DC energy storage solution for the Coalburn 1 project, backed by Copenhagen Infrastructure Partners' flagship funds.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:15 pm

JNJ

VNDA

Vanda Pharmaceuticals acquired the U.S. and Canadian rights to Ponvory, a drug approved for relapsing forms of multiple sclerosis, from Actelion Pharmaceuticals, a subsidiary of Johnson & Johnson. The deal was valued at $100 million.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:06 pm

ESMT

EngageSmart announced that the waiting period under the HSR Act for its merger with Icefall expired on December 6, 2023, at 11:59 PM Eastern Time, as per an 8-K filing. This expiration is a step forward in the merger process, indicating that the deal has cleared a significant regulatory hurdle.

Portfolio Pulse from Charles Gross

December 07, 2023 | 11:44 am

CCI

Elliott Investment has sent a letter to the board of Crown Castle, indicating its intention to nominate a new board if the current board is unwilling to implement necessary leadership changes. This move suggests potential activist investor action aimed at influencing the company's direction and management.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 11:34 am

WDS

Woodside Energy Group has confirmed ongoing discussions about a potential merger with Santos Ltd. The discussions are confidential and there is no guarantee they will result in a transaction. Woodside is committed to assessing opportunities for shareholder value and will provide updates as per disclosure obligations.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 8:56 am

TRKA

Troika Media Group, Inc. (TRKA), a consumer engagement and customer acquisition group, has announced a strategic Chapter 11 bankruptcy filing. The company has entered into a restructuring support agreement with Blue Torch Finance LLC, its senior secured lenders. Under this agreement, Blue Torch will acquire substantially all of Troika's assets through a stalking horse credit bid.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 8:08 am