Streetbeat News

Acquisitions Mergers

ORMP

SCLX

Scilex Holding Company has announced a $50 million registered convertible financing deal to purchase up to 7.5 million shares of common stock. This move aims to refinance and restructure existing debt, involving affiliates of Murchinson, 3i LP, and Oramed Pharmaceuticals. The financing is expected to close by October 7, 2024, and is part of Scilex's strategy to strengthen its financial profile and support its growth as a non-opioid pain management company.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 1:54 pm

PFE

Pfizer shares are experiencing an uptick following the acquisition of a $1 billion stake by Starboard Value, indicating increased investor confidence.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 1:52 pm

GLTO

Galecto's shares are trading lower following the issuance of new common and preferred convertible shares to Bridge Medicine as part of an acquisition deal for BRM-1420 rights.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 1:48 pm

NXPI

SEMI

SHOC

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) is constructing a semiconductor fab in Dresden, Germany, in collaboration with Infineon, NXP, and Bosch. This $11 billion project aims to strengthen Europe's semiconductor base. TSMC's stock has gained 104% in the past year, driven by AI demand, but faces challenges with increased power demand for advanced processes.

Portfolio Pulse from Anusuya Lahiri

October 07, 2024 | 1:13 pm

ARES

CRWD

DECK

On CNBC's 'Halftime Report Final Trades,' experts highlighted Deckers Outdoor Corporation, Citigroup, Ares Management, and CrowdStrike Holdings. Deckers announced a stock split, Citigroup partnered with Apollo for a $25 billion lending program, Ares Management is set to report earnings, and CrowdStrike expanded its Marketplace.

Portfolio Pulse from Avi Kapoor

October 07, 2024 | 12:51 pm

GLTO

Galecto has completed a strategic review and will now focus on oncology and liver disease. The company has acquired global rights to BRM-1420 from Bridge Medicines, issuing shares as part of the consideration.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:49 pm

HOPE

TBNK

Territorial Bancorp is urging its shareholders to vote in favor of a merger with Hope Bancorp, highlighting the substantial value and benefits for shareholders, customers, employees, and communities. The company dismisses an alternative offer from Blue Hill as uncertain and risky.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:47 pm

BMY

CRM

PFE

Pfizer's stock has been underperforming, down nearly 14% over the last year, as demand for its COVID-19 treatments declines. Activist investor Starboard Value has acquired a $1 billion stake in Pfizer, potentially signaling a turning point. Starboard, known for pushing for value, has enlisted former Pfizer executives to help revitalize the company. Despite bearish technical indicators, Starboard's involvement and Pfizer's shift towards oncology could lead to a turnaround.

Portfolio Pulse from Surbhi Jain

October 07, 2024 | 12:42 pm

FWRD

Alta Fox Capital Management, owning over 3% of Forward Air Corporation, has called for an immediate strategic review, urging the Board to consider a formal sales process to maximize shareholder value. Alta Fox criticizes the Board's past decisions and emphasizes the need for action to capitalize on recent market momentum.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:15 pm

AIR

ARES

Automated Industrial Robotics Inc. (AIR) has acquired Robotics & Drives, enhancing its European presence and robotics integration capabilities. The acquisition was funded by Ares Management Private Equity.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:09 pm