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Acquisitions Mergers

BA

EADSY

RYCEY

Emirates has deferred a deal to purchase Airbus A350-1000 jets, citing concerns over the durability of Rolls Royce engines. Emirates President Tim Clark stated the engines' maintenance interval does not meet their operational standards. Despite this, Emirates is open to ordering 35-50 jets if Rolls-Royce addresses these issues. Meanwhile, Airbus secured an order for ten A350-900 aircraft from EGYPTAIR at the Dubai Airshow. Airbus and Rolls-Royce expressed confidence in the engine's performance. Airbus (EADSY) shares closed up by 0.85%, while Boeing (BA) shares traded higher by 0.49% in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

November 14, 2023 | 1:14 pm

TLIS

Talis Biomedical has announced that it is exploring strategic alternatives and implementing a cost reduction plan to preserve cash. The company is reducing its workforce by approximately 90% and consolidating its operations to a single site in Chicago.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:11 pm

LL

F9 Investments has proposed to acquire LL Flooring Holdings at $3.00 per share in cash. Additionally, F9 Investments has nominated three directors to LL Flooring's board.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 12:50 pm

NTCO

Natura & Co has agreed to sell The Body Shop to investment group Aurelius for an enterprise value of GBP 207 million. The deal is part of Natura & Co's strategy to focus on its core businesses and reduce debt.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 12:15 pm

STLA

Stellantis NV (NYSE:STLA) plans to offer voluntary buyouts to 6,400 U.S. salaried employees, which is about half of its non-union salaried workforce, as part of a cost-cutting initiative during its transition to electric vehicles (EVs) and following a new UAW contract. Employees with at least five years of experience are eligible, and those accepting must leave by year-end. This follows previous buyout offers and a tentative labor agreement after U.S. strikes. Stellantis reported a 7% Y/Y net revenue growth for Q3 FY23 and confirmed a positive outlook.

Portfolio Pulse from Lekha Gupta

November 14, 2023 | 11:44 am

BA

Ethiopian Airlines CEO announced the purchase of 20 Boeing 737 jets and 11 Boeing 787-9 aircraft, as reported by Reuters.

Portfolio Pulse from Charles Gross

November 14, 2023 | 11:29 am

LU

OCFT

Lufax Holding Ltd has entered into a share purchase agreement to acquire the virtual bank PAOB from OneConnect Financial Technology Co., Ltd. for HK$933 million in cash. The acquisition involves the sale of Jin Yi Tong Limited, which holds PAOB through its subsidiary. The deal is subject to shareholder and regulatory approvals and must close by the first anniversary of the agreement or may be terminated.

Portfolio Pulse from Charles Gross

November 14, 2023 | 11:20 am

BXP

Boston Properties, Inc. (BXP) has agreed to sell a 45% interest in two life sciences development properties located in Kendall Square, Cambridge, Massachusetts, to Norges Bank Investment Management. The transaction values the properties at a gross valuation of $1.66 billion, which equates to approximately $2,050 per square foot.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 11:07 am

SOL

Mad Lads NFTs on the Solana blockchain have hit a new all-time high in price following the appointment of Can Sun, a former FTX general counsel, to lead Trek Labs, a startup associated with Backpack and Coral. Trek Labs, which has secured a Virtual Asset Service Provider license in Dubai, is offering a 10% stake in the company, valued at over $100 million. The beta signups for the Backpack exchange are currently open exclusively to Mad Lads NFT holders, potentially driving up demand for these NFTs.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 10:50 am

GLNCY

TECK

Teck Resources is reportedly in advanced discussions to sell its coal business to Glencore, according to The Wall Street Journal. The deal, if finalized, would involve one of the world's largest mining companies, Glencore, acquiring the coal assets of Teck Resources, a major player in the mining sector.

Portfolio Pulse from Charles Gross

November 14, 2023 | 10:40 am