Streetbeat News

Acquisitions Mergers

WAVD

WaveDancer, Inc. (NASDAQ:WAVD) has regained compliance with NASDAQ's listing requirements after previously failing to meet the minimum bid price and stockholders' equity standards. The company achieved compliance through a reverse stock split and by increasing its stockholders' equity above the required threshold. NASDAQ will monitor WaveDancer for one year, and the upcoming merger with Firefly Neuroscience, Inc. is expected to further impact compliance in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:24 pm

AVGO

NVDA

VMW

Broadcom Inc (AVGO) and VMware, Inc (VMW) have received all necessary regulatory approvals to close their merger deal, including from China. Despite this, both stocks traded lower in the premarket. The deal is expected to close on November 22, 2023. Broadcom has previously faced concerns over U.S. AI technology embargoes on China, which could affect a third of its revenue from China. Nvidia Corp (NVDA) was also mentioned in relation to U.S. plans to halt shipments of advanced AI chips to China.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 1:21 pm

BAER

Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER, BAERW) has entered into a joint venture partnership with Marathon Asset Management LP and Avenue Sustainable Solutions Fund to purchase four Canadair CL-215T Amphibious Aircraft from the Spanish government for €40.3 million. The acquisition is expected to close in ten business days and is seen as a strategic move to expand Bridger's customer base and create substantial revenue and cash flow growth. Bridger will manage the upgrades of the planes and has the right to acquire them sequentially as they are ready for service, with the first two expected to be operational by Summer 2024 in the EU.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:10 pm

INFN

Infinera (NASDAQ:INFN) has been awarded a California Competes grant valued at up to $14 million to expand and modernize its U.S.-based production of next-generation semiconductors. The grant, part of the CHIPS Act initiative, will support Infinera's domestic manufacturing of indium phosphide-based compound semiconductor and monolithic photonic integrated circuit technologies, enhancing America's economic and national security in semiconductor innovation and supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:07 pm

AVGO

VMW

Broadcom Inc. and VMware Inc. have announced that they have received all necessary regulatory approvals for Broadcom's acquisition of VMware. The companies plan to finalize the acquisition on November 22. This marks a significant step in the process of Broadcom expanding its software business by acquiring the cloud computing and virtualization technology company.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:48 pm

ANGH

OSN Group has committed to invest up to $50 million in Anghami, valuing the company at $3.65 per share. Upon completion of the transaction, OSN Group will hold a majority stake in Anghami.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:46 pm

CHH

WH

The board of Wyndham Hotels & Resorts has determined that a letter from Choice Hotels International proposing a business combination is a 'step backwards'. The board believes that the proposal is not in the best interests of Wyndham and its shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:42 pm

EADSY

Airbus SE (OTC:EADSY) has secured an order for 60 A320neo Family aircraft from SMBC Aviation Capital, adding to SMBC's total order of nearly 340 aircraft of this type from Airbus. This deal reaffirms the long-term strategic partnership between the two companies and supports Airbus' position as a leading aircraft manufacturer. The A320neo Family features new technologies for increased fuel efficiency and operational savings. Airbus also recently signed a deal with Ethiopian Airlines for 11 A350-900s. Airbus shares (EADSY) closed 1.03% higher at $36.38 on Monday.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 12:34 pm

TAC

TransAlta Corporation has announced an investment plan of $3.5 billion to achieve a growth target of 1.75 GW by 2028, aiming for an annual EBITDA of $350 million. The company will focus on customer-centered renewables and storage, expanding its development pipeline to 10 GW. Additionally, TransAlta's Board has approved a 9% dividend increase. A joint development agreement with Hancock Prospecting has been announced to develop clean energy solutions. The company forecasts an adjusted EBITDA of $1.15 to $1.3 billion and FCF of $450 to $600 million for 2024.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:21 pm

AVGO

FXI

VMW

Shares of Broadcom (AVGO) and VMware (VMW) are experiencing volatility in premarket trading as traders react to a report that China's State Administration for Market Regulation has decided to approve Broadcom's acquisition of VMware with restrictive conditions.

Portfolio Pulse from Charles Gross

November 21, 2023 | 11:53 am