Streetbeat News

Acquisitions Mergers

TEAM

Atlassian Corporation (NASDAQ:TEAM) has announced its plans to acquire video messaging platform Loom for approximately $975 million, with $880 million in cash and the remainder in Atlassian equity awards. The acquisition is expected to enhance team collaboration and productivity, with Loom's async video technology being integrated into Atlassian's existing workflows. The transaction is expected to close in the third quarter of Atlassian's fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 12:33 pm

DSS

PRPH

DSS, Inc. has issued a letter to shareholders providing an update on the company's progress and future expectations. The company is preparing for an IPO of its majority-owned subsidiary, Impact Biomedical, Inc. (IBIO). DSS's product packaging division, Premier Packaging Corporation, Inc., reported a 27% increase in revenue for the first half of 2023. DSS Wealth Management, Inc. has enhanced its management team and plans to launch a Total Return Bond Fund. The company also plans to introduce shareholders to subsequent spinoffs or similar liquidity events after the Impact Biomedical IPO.

Portfolio Pulse from Happy Mohamed

October 12, 2023 | 12:28 pm

GS

KKR

Goldman Sachs Group, Inc. (NYSE:GS) is selling the GreenSky platform and associated loan assets to a consortium led by Sixth Street, which includes KKR & Co. Inc. (NYSE:KKR), Bayview Asset Management, and CardWorks. The sale is expected to result in a $(0.19) earnings per share impact on Goldman Sachs' Q3 earnings. Goldman Sachs will continue to operate the platform and record ongoing business results.

Portfolio Pulse from Nabaparna Bhattacharya

October 12, 2023 | 12:22 pm

RITM

SCU

Rithm Capital has signed an amended definitive merger agreement to acquire Sculptor Capital Management for $12.00 per Sculptor Class A share, which is a 7.62% increase over the previously agreed price of $11.15.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:40 am

ILMN

Illumina Inc (NASDAQ:ILMN) is considering divesting its acquisition of Grail if it loses the final appeals in U.S. or European courts. The company completed its $7.1 billion takeover of Grail in August 2021, despite opposition from regulators. If it wins both cases, it will reassess Grail's assets, which might result in integrating or divesting part or the entire unit. The U.S. Federal Trade Commission (FTC) and the EU have ordered Illumina to divest Grail, which Illumina appealed against.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 11:38 am

APRN

THRN

TWNK

The article identifies three overbought stocks in the consumer staples sector: Hostess Brands, Inc. (TWNK), Blue Apron Holdings, Inc. (APRN), and Thorne HealthTech, Inc. (THRN). All three companies have recently announced acquisition plans and have high Relative Strength Index (RSI) values, indicating they may be overvalued.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 11:23 am

SPHR

Sphere Entertainment has announced its decision to sell its Commercial Division to NMI. The terms of the deal have not been disclosed. The sale will allow Sphere to focus on delivering fully-integrated payment and software experiences for the healthcare and not-for-profit sectors and other complex markets.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:19 am

OPRX

OptimizeRX has announced preliminary results and disclosed an agreement to acquire Medicx Health for $95M. The acquisition is expected to strengthen OptimizeRX's digital health platform.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:05 am

BLRX

BioLineRx Ltd. (NASDAQ:BLRX) has closed an exclusive license agreement with Guangzhou Gloria Biosciences Co., Ltd. for the development of motixafortide in Asia. The agreement includes a $15 million upfront payment, up to $50 million in potential development and regulatory milestones in China and Japan, and up to $200 million in potential commercial milestones. Additionally, a $14.6 million equity investment was made in BioLineRx through the purchase of newly issued American Depositary Shares.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:05 am

CTG

Computer Task Group (CTG) and Cegeka Groep NV have announced an extension of their tender offer to acquire all outstanding shares of CTG. The extension is aimed at allowing more time for shareholders to tender their shares.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:00 am