Streetbeat News

Acquisitions Mergers

LL Flooring Holdings, Inc. (NYSE:LL) has received an unsolicited, non-binding proposal from Live Ventures Incorporated to acquire all of the outstanding shares of the company for $5.85 per share in cash. LL Flooring's Board of Directors is exploring strategic alternatives, including a potential sale, merger, or other strategic transaction. The Board will review the proposal from Live Ventures in this context. LL Flooring shareholders do not need to take any action at this time.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 6:27 pm

OPRX

OptimizeRx Corp (OPRX) has agreed to acquire Medicx Health for $95 million, a deal expected to close in Q4 2023. The acquisition is expected to expand OptimizeRx's footprint in life science commercial digital budgets and contribute significantly to revenue, revenue growth, EBITDA, and EPS. Post-acquisition, OptimizeRx will have approximately $12.5 million in cash and short-term equivalents. The combined company will establish relationships with approximately 300 pharmaceutical brands.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 5:42 pm

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VMW

VMware shares are trading higher following a report suggesting that China's State Administration for Market Regulation is expected to grant Broadcom conditional antitrust approval for its acquisition of the company.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:27 pm

AVGO

Broadcom's shares are trading higher following a report that China's State Administration for Market Regulation is expected to grant the company conditional antitrust approval for its acquisition of VMware.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:23 pm

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VMW

Broadcom's (AVGO) acquisition of VMware (VMW) is expected to receive conditional antitrust approval from China's State Administration for Market Regulation. The $60 billion deal is likely to boost Broadcom's shares significantly, according to CNBC's Jim Cramer. Both Broadcom and VMware saw their shares rise by 3% and 4% respectively on the news.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:04 pm

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China's state-owned fund Central Huijin Investment Ltd. has bought $65.7 million in shares of Bank of China Ltd., China Construction Bank Corp, Agricultural Bank of China Ltd., and Industrial & Commercial Bank of China Ltd., raising its stake in each bank by ten basis points. The fund plans to continue these purchases over the next 6 months. Meanwhile, property developer stocks fell due to gloomy data from the Hong Kong home market, and EV stocks rose on positive sentiment. The report also mentioned that Chinese companies are gradually returning to list on US exchanges, albeit at a slower pace.

Portfolio Pulse from Daniel Harrison

October 12, 2023 | 3:54 pm

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Several US stocks recorded gains in Thursday's trading session. LL Flooring surged 35% after Live Ventures proposed to acquire it for $5.85 per share. Scholar Rock surged 28.8% after pricing an upsized $85 million public offering. E2open shares gained 17.5% despite falling 50% on Wednesday due to Q2 financial results. Viasat rose 9.7% after issuing an interim update on VS-3 F1 satellite status. Cerevel Therapeutics gained 7.3% after pricing an underwritten public offering. Fastenal climbed 7% after reporting mixed Q3 financial results. Walgreens rose 4.8% after Q4 sales increased 9.2% Y/Y. Domino's Pizza gained 1.08% after reporting better-than-expected Q3 EPS results.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 3:52 pm

PCCT

Spectaire Inc. and Perception Capital Corp. II (NASDAQ:PCCT) have secured a $3.5M PIPE commitment from Dr. Jörg Mosolf, chairman of Mosolf SE & Co. KG and a director of Spectaire. The companies also announced an order from Mosolf for initial units of Spectaire's MMS device AireCore™ at a unit price of $2,000. The purchase of 50,000 shares of Perception by the PIPE investor will close concurrently with the closing of the business combination between Spectaire and Perception.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:46 pm

LIVE

Live Ventures Inc (NASDAQ:LIVE) has proposed to acquire LL Flooring Holdings, Inc (NYSE:LL) in an all-cash offer for $5.85 per share, totaling $194.4 million. This represents a 100% premium to LL Flooring's closing share price on October 11, 2023. Isaac Capital Group, controlled by Live Ventures' CEO Jon Isaac, currently owns over 4% of LL Flooring's shares. LL Flooring had previously rejected a similar proposal in June.

Portfolio Pulse from Shivani Kumaresan

October 12, 2023 | 3:44 pm

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Genetron has announced a definitive merger agreement for a going private transaction, which has led to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:14 pm