Streetbeat News

Acquisitions Mergers

MMTOF

NSANY

RNLSY

Renault SA has reduced its stake in Nissan Motor Co., Ltd. from 43.4% to 15%, transferring the remaining 28.4% shares into a French trust. Renault and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations. Renault continues to benefit from the economic rights from the entrusted Nissan shares until they are sold. Mitsubishi Motors is also a member of the Alliance with Renault and Nissan Motor. The alliance will continue to identify key projects across markets.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 12:27 pm

HUT

Hut 8 and US Bitcoin Corp (USBTC) have announced plans to merge in an all-stock deal. The merger is expected to create a combined entity with a stronger market position.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 11:35 am

GAN

SGAMF

SGAMY

Online gaming platform GAN Limited (NASDAQ:GAN) has agreed to be acquired by Sega Sammy Creation Inc., a subsidiary of Sega Sammy Holdings, Inc. (OTC: SGAMF, SGAMY), for $1.97 per share, a 121% premium over GAN's closing price on November 7, 2023. The merger is expected to close in Q4 2024, with GAN becoming a wholly-owned subsidiary of Sega Sammy Creation. GAN shares are trading higher by 96.2% to $1.75 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 10:35 am

FXI

PNGAY

Chinese authorities have reportedly asked Ping An Insurance Group to take a controlling stake in Country Garden, the nation's largest private property developer. The move is seen as part of the government's efforts to stabilize the real estate sector.

Portfolio Pulse from Charles Gross

November 08, 2023 | 10:34 am

AERT

Shares of Aeries Technology are trading in the premarket following the close of its business combination with Worldwide Webb Acquisition.

Portfolio Pulse from Charles Gross

November 08, 2023 | 10:25 am

ATPC

AGAPE ATP Corporation has signed a memorandum of agreement to acquire a 51% stake in electric vehicle charger developer Volt Industries. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:56 am

GAN

GAN has agreed to be acquired by Sega Sammy Creation for $1.97 per share in cash, reflecting a 121% premium over the closing price of GAN's ordinary shares on November 7, 2023. The merger is subject to approval by GAN's shareholders.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 7:39 am

CTKB

Cytek Biosciences has projected its FY23 total revenue to be between $188 million and $192 million, indicating a growth of 15% to 17% over FY22. The forecast includes flat organic business revenue compared to 2022 and inorganic revenue of $25 million to $30 million from the recently acquired Luminex flow cytometry and imaging business.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 1:33 am

TCN

Tricon has updated its FY23 guidance, reiterating its Core FFO per share guidance of $0.55-$0.58 and narrowing its same home revenue growth from 6%-7% to 6%-6.5%. The company also updated its acquisitions guidance to reflect a smaller number of homes to be acquired in 2023 but with a similar equity contribution as previously expected. The company has substantially completed the investment programs of SFR JV-2 and SFR JV-HD with lower leverage parameters.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 1:19 am

EXR

Extra Space Storage has updated its FY23 Core FFO estimates from $8.00-$8.25 to $8.05-$8.20, including the impact of the Life Storage merger. The company's revised annual assumptions also include same-store revenue growth of 2.75%-3.50%, same-store expense growth of 4.00%-5.00%, and same-store NOI growth of 2.25%-3.25%. The estimates are forward-looking and based on management's view of current and future market conditions.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:37 am