Streetbeat News

Acquisitions Mergers

NAPA

Duckhorn Portfolio shares rose following strong Q4 results and an acquisition agreement with Butterfly Equity.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:07 pm

AZN

AstraZeneca has entered a $1.92 billion license agreement with CSPC Pharmaceutical Group to develop a novel cardiovascular treatment. The deal includes an upfront payment and potential milestone payments. Additionally, AstraZeneca's Airsupra has shown positive results in a Phase 3b asthma trial.

Portfolio Pulse from Vandana Singh

October 07, 2024 | 12:04 pm

CNQ

Canadian Natural Resources is acquiring Chevron Canada's 20% interest in the Athabasca Oil Sands Project and has increased its quarterly dividend.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:03 pm

EQNR

Equinor's shares are trading lower following the announcement of its acquisition of a 9.8% minority stake in Ørsted.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 12:01 pm

CNQ

CVX

DRLL

HES

WEEI

Chevron is selling $6.5 billion in assets to Canadian Natural Resources, including stakes in the Athabasca Oil Sands Project and Duvernay shale. This move is part of Chevron's plan to divest $10-15 billion in assets by 2028. The deal is expected to close in Q4 2024, pending regulatory approvals. Canadian Natural Resources plans to increase its dividend and allocate free cash flow to shareholders and debt reduction.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 11:55 am

VSTO

Vista Outdoors shares rose following the announcement of a definitive agreement to sell Revelyst to Strategic Value Partners in an all-cash deal.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 11:44 am

BERY

GLT

Berry Global plans to issue $500M in senior secured notes to fund its merger with Glatfelter and repay Glatfelter's debt. The merger will result in a new entity, Magnera Corporation.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 11:44 am

ALTM

Arcadium Lithium shares surged following news that Rio Tinto has approached the company for a potential acquisition.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 11:43 am

BSVO

SFLO

VSTO

Vista Outdoor Inc. (NYSE:VSTO) shares surged after announcing a $1.125 billion sale of Revelyst to Strategic Value Partners and an amended merger agreement with Czechoslovak Group to acquire The Kinetic Group for $2.225 billion. These deals value Vista at $3.35 billion, offering $45 per share to stockholders. The transactions are expected to close by January 2025, pending approvals.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 11:30 am

ALB

ALTM

GM

RIO

SQM

TSLA

Rio Tinto is in preliminary talks to acquire Arcadium Lithium, potentially making it one of the largest lithium producers globally. The acquisition could involve a significant premium, as Arcadium's market value has dropped due to a lithium market slump. Arcadium's shares surged on the news.

Portfolio Pulse from Stjepan Kalinic

October 07, 2024 | 11:16 am