Streetbeat News

Acquisitions Mergers

AAGR

VCXA

10X Capital Venture Acquisition Corp. II (VCXA) has successfully merged with African Agriculture, targeting the $21 billion global alfalfa market. The merged entity, now named African Agriculture, will trade on the Nasdaq Global Market under the ticker 'AAGR' starting December 7, 2023. CEO Alan Kessler will ring the Nasdaq Opening Bell to celebrate the public trading debut, marking African Agriculture as the first pure-play U.S.-listed agriculture company operating in Africa.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 6:52 am

ARKF

ARKK

ARKW

COIN

PATH

PLTR

TOST

Cathie Wood's Ark Invest has purchased over $27 million worth of Palantir Technologies Inc (PLTR) shares, demonstrating confidence in the data analytics company despite its recent stock decline. The shares were bought through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). Additionally, Ark Invest increased its stake in Toast Inc (TOST) and reduced its holdings in Coinbase Global Inc (COIN) and UiPath Inc (PATH).

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 6:34 am

ABBV

CERE

Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) shares rose in after-hours trading following the announcement that AbbVie Inc. (NYSE:ABBV) will acquire the company for approximately $8.7 billion. AbbVie will purchase all outstanding CERE shares at $45 each in cash, with the deal expected to close in mid-2024. AbbVie's CEO highlighted the acquisition's enhancement to their neuroscience portfolio and potential for significant growth and multibillion-dollar sales across Cerevel's assets.

Portfolio Pulse from Ryan Gustafson

December 06, 2023 | 10:14 pm

CNI

CN has signed and closed an agreement to acquire Iowa Northern Railway (IANR), which operates around 275 track miles in Iowa. This acquisition connects IANR to CN's U.S. rail network. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:07 pm

PAX

UBS

Patria Investments has signed an agreement to purchase Credit Suisse's real estate business in Brazil. The deal is valued at up to R$650 million, which is approximately $130 million in total cash consideration.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:06 pm

OPTT

PGNT

Paragon Technologies (OTC:PGNT), owning 4.9% of Ocean Power Technologies (NYSE:OPTT), criticizes OPTT's board for entrenchment and dishonesty. Paragon's request for a preliminary injunction against OPTT's advance notice bylaws was denied, but the court expressed doubts about the board's good faith. Paragon accuses OPTT of fabricating schemes to block alternate director nominations and questions the board's spending of over $6 million to defend against Paragon's campaign, given OPTT's financial losses and risk of insolvency. Paragon urges shareholders to vote for its director nominees, citing its own track record of creating shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:33 pm

ABBV

CERE

AbbVie anticipates that its proposed transaction with Cerevel Therapeutics will start contributing positively to its adjusted earnings per share (EPS) beginning in 2030.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:33 pm

ABBV

CERE

AbbVie is set to acquire Cerevel Therapeutics for an equity value of about $8.7 billion, causing Cerevel's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:32 pm

ABBV

CERE

AbbVie has announced its intention to acquire Cerevel Therapeutics at a price of $45.00 per share in cash. The total equity value of the transaction is approximately $8.7 billion.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:31 pm

LIAN

LianBio's Board of Directors has unanimously decided not to pursue an unsolicited acquisition proposal from Concentra Biosciences. The offer was to acquire all LianBio equity for $4.30 per share in cash, plus a contingent value right. The Board believes the proposal undervalues the company and is not in the best interests of LianBio or its shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:17 pm