Streetbeat News

Acquisitions Mergers

DWAC

Digital World Acquisition Corp. (DWAC) plans to return $533 million of the $1 billion raised for Trump Media & Technology Group, following the cancellation of $467 million in funding commitments. This could potentially derail the anticipated merger between DWAC and the Trump media group. Despite the challenges, DWAC CEO Eric Swider sees the cancellation of funding commitments as a positive step towards finalizing the business combination.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 11:52 am

ATVI

DG

JPM

MSFT

QQQ

SPY

UNH

US stock futures showed mixed trends on Friday, with UnitedHealth Group, Inc. (NYSE:UNH) and JPMorgan Chase & Co. (NYSE:JPM) reporting better-than-expected earnings. Rising oil prices and weak economic data from China are causing concern among traders. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) both slipped in premarket trading. UnitedHealth rose about 2% in premarket trading after reporting a Q3 earnings beat. Dollar General Corp. (NYSE:DG) rallied about 8% after it brought back its previous CEO. Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) could be in focus as the U.K. antitrust regulator approved its pending acquisition by Microsoft Corp. (NASDAQ:MSFT).

Portfolio Pulse from Shanthi Rexaline

October 13, 2023 | 11:34 am

BWMN

Bowman Consulting has acquired Dennis Corporation, a civil engineering, surveying, and construction management firm. The acquisition was financed with a combination of cash, seller notes, and equity. The acquisition is expected to be immediately accretive and operate at an annualized net service billing run rate of approximately $4.5 million.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:32 am

ACI

KR

California Attorney General Rob Bonta has raised concerns over the planned acquisition of Albertsons Companies Inc (NYSE:ACI) by Kroger Company (NYSE:KR), valued at $24.5 billion. The deal is under scrutiny due to potential negative impacts on California residents, including increased consumer prices and reduced compensation to local farmers. The companies had proposed selling over 400 grocery outlets to C&S Wholesale Grocers to address regulatory concerns.

Portfolio Pulse from Shivani Kumaresan

October 13, 2023 | 11:22 am

STKL

SunOpta has announced the sale of its frozen fruit assets to Nature's Touch for an aggregate purchase price of $141 million.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 11:01 am

LTH

Life Time Group Holdings (LTH) is planning to acquire Arden Hills Athletic & Social Club property in Sacramento in early 2024. The details of the transaction have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:51 am

CMTL

Comtech Telecommunications Corp's shares are up by about 18% after reporting Q4 results. The company posted revenue of $148.81 million, beating the consensus of $140.13 million. Revenues in the Satellite and Space Communications segment rose 22.7% Y/Y to $94.2 million, and the Terrestrial and Wireless Networks segment revenue grew 8.8% Y/Y to $54.6 million. The company also announced a deal to sell its Power Systems Technology product line to Stellant Systems, Inc. for $40 million.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 10:31 am

ABCL

Abcellera Biologics has taken ownership of an antibody drug candidate that was discovered as part of its collaboration with EQRX. The company is now advancing the drug candidate into IND-enabling studies.

Portfolio Pulse from Charles Gross

October 13, 2023 | 10:08 am

ATVI

MSFT

UK regulators have approved Microsoft's $69 billion acquisition of Activision Blizzard, as reported by CNBC. This move is a significant step towards the completion of the deal.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 7:16 am

BTWN

MNY

MoneyHero has completed its business combination with Bridgetown Holdings Limited and will debut on Nasdaq under the ticker 'MNY'.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 6:45 am