Streetbeat News

Acquisitions Mergers

AGQI

FDEU

First Trust Advisors L.P. (FTA) announced that shareholders of First Trust Dynamic Europe Equity Income Fund (FDEU) have approved the reorganization of FDEU into First Trust Active Global Quality Income ETF (AGQI). The reorganization is expected to close on or around November 20, 2023. Upon completion, the assets of FDEU will be transferred to AGQI, and FDEU's liabilities will be assumed by AGQI. FDEU shareholders will receive shares of AGQI equal to the aggregate net asset value of their FDEU shares.

Portfolio Pulse from Happy Mohamed

October 23, 2023 | 8:09 pm

AJX

Great Ajax Corp. (AJX) and Ellington Financial have mutually terminated their merger agreement. Ellington Financial agreed to pay Great Ajax $16 million, of which $5 million is in cash and $11 million was paid for approximately 1.666 million shares of Great Ajax common stock, increasing Ellington Financial's stake in Great Ajax to 6.1%. Following the news, AJX shares dropped 31.0% to $4.40.

Portfolio Pulse from Ryan Gustafson

October 23, 2023 | 7:26 pm

ADSK

Autodesk has signed a definitive agreement to acquire FlexSim, a provider of simulation technology for factories and logistics centers. The acquisition will not have a material impact on Autodesk's Q4 and FY24 guidance. FlexSim's technology will complement Autodesk's existing factory design solutions and will be integrated into Autodesk's Design and Make Platform.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 7:12 pm

VMW

VMware shares are trading higher, potentially rebounding after a drop last week due to reports suggesting China could delay approval of the company's proposed deal with Broadcom.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 7:05 pm

AGFAD

CSE:DCNN

Digicann Ventures Ltd. has sold the shares of AgraFlora Europe GmbH to a third party for €500,000 ($529,675). AgraFlora Europe was established as a platform for the import, storage, and wholesale distribution of cannabis products for medicinal purposes. It held 100% of the shares in Farmako GmbH, Farmako Genetics GmbH, and The Good Company Luxembourg SARL. Farmako and Farmako Limited held various permits and licenses and owned intellectual property related to their business activities.

Portfolio Pulse from Jelena Martinovic

October 23, 2023 | 7:03 pm

AKU

APLM

INVO

LICY

LMDX

RVMD

U.S. stocks traded mixed with the Nasdaq Composite gaining over 100 points. Energy shares dipped by 1.9% while communication services shares rose by 1.3%. LumiraDx Limited, INVO Bioscience, and Akumin Inc. saw significant gains after strategic collaborations and acquisitions. Li-Cycle Holdings Corp., Revolution Medicines, and Apollomics, Inc. saw significant drops due to halted projects and clinical trial data. Oil traded down 2.6% to $85.79.

Portfolio Pulse from Lisa Levin

October 23, 2023 | 6:39 pm

ACN

Accenture has acquired cybersecurity services company MNEMO Mexico. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 6:32 pm

CVX

HES

XLE

Chevron Corp. announced a planned acquisition of Hess Corp. for $171 per share, a deal valued at $53 billion. This news led to a 3% drop in Chevron's shares, making it one of the worst-performing U.S. energy stocks on the day of the announcement. The broader energy sector also experienced negative price movements due to a decline in oil prices.

Portfolio Pulse from Piero Cingari

October 23, 2023 | 6:26 pm

CYBN

DMTTF

Psychedelics companies Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTCQB:DMTTF) have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The deal is seen as a significant milestone for Cybin, positioning it as a leader in the psychedelics sector. The combined company now has the industry’s largest deuterated DMT pipeline program and a large IP portfolio in the psychedelic drug development space. The merger is expected to accelerate innovation in the industry and deliver enhanced value for shareholders.

Portfolio Pulse from Lara Goldstein

October 23, 2023 | 5:39 pm

ROIV

Roviant Sciences has sold its 75% stake in Telavant to Roche, causing its shares to trade lower after initially showing strength.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 5:11 pm