Streetbeat News

Acquisitions Mergers

AKAM

LUMN

Lumen Technologies has announced the sale of select Content Delivery Network (CDN) customer contracts to Akamai Technologies. The financial terms of the deal were not disclosed.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:03 pm

AMD

AMD has announced plans to acquire Nod.ai, although the terms of the deal have not been disclosed.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:02 pm

NWLI

The CNN Money Fear and Greed index showed a decrease in fear among US investors, but the index remained in the 'Fear' zone. Despite the ongoing conflict in the Middle East, US stocks, crude oil futures, and defense stocks rose. National Western Life Group, Inc. (NASDAQ:NWLI) shares gained over 16% after the company announced a merger deal with Prosperity Life Group. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher on Monday.

Portfolio Pulse from Lisa Levin

October 10, 2023 | 1:00 pm

SMX

SMX shares are trading higher after the company announced it has secured a majority stake in True Gold Consortium.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:46 pm

POST

Post Holdings, Inc. (NYSE:POST) has agreed to acquire the assets of Perfection Pet Foods, LLC for $235 million. The acquisition includes two manufacturing facilities in Visalia, California, which will provide Post with additional manufacturing capacity to insource a portion of its current pet food business. Post management expects Perfection to contribute approximately $25 million of Adjusted EBITDA in the next 12 months following the close of the acquisition. The acquisition is expected to be completed late in the fourth calendar quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:46 pm

IMAX

IMAX Corporation's proposal to acquire the outstanding 96.3 million shares of IMAX China has been rejected by shareholders, despite 70% voting in favor. The votes against exceeded the 10% threshold required by Hong Kong law to defeat a privatization transaction. IMAX CEO Rich Gelfond stated that the company will explore other means of creating shareholder value, such as share repurchases of IMAX Corporation stock.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:39 pm

ACN

Accenture (NYSE:ACN) has made a strategic investment in Aliro Quantum, a provider of secure quantum networks, through Accenture Ventures. The investment will help Accenture and Aliro equip clients with secure quantum networks for safe data and communication. The terms of the investment were not disclosed. Accenture will also integrate Aliro's software capabilities into its cybersecurity offerings.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:19 pm

ATAI

Atai Life Sciences AG (NASDAQ:ATAI) and IntelGenx Technologies Corp. have completed transactions related to a non-brokered offering of units. The transactions include amendments to a loan agreement and a subscription agreement, providing Atai with the ability to convert the principal and accrued interest into IntelGenx's common stock and the right to purchase additional units. Following the transactions, Atai would beneficially own or control approximately 63.4% of the issued and outstanding shares of IntelGenx.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:08 pm

COHR

DNZOF

MIELF

Coherent Corp. (NYSE:COHR) has secured a $1 billion investment from Mitsubishi Electric Corp. (OTC:MIELF) and DENSO CORPORATION (OTC:DNZOF) for its silicon carbide business. Each company will invest $500 million for a 12.5% non-controlling ownership interest. The deal will increase Coherent's free cash flow and provide greater financial and operational flexibility. Coherent will also establish long-term supply agreements with DENSO and Mitsubishi Electric.

Portfolio Pulse from Nabaparna Bhattacharya

October 10, 2023 | 12:02 pm

WMG

Warner Music India has acquired artist management company E-Positive. The acquisition is expected to strengthen Warner Music's position in the Indian music industry.

Portfolio Pulse from Charles Gross

October 10, 2023 | 11:28 am