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Acquisitions Mergers

ODYY

OGEN

Oragenics is set to acquire Odyssey Health's assets related to its proprietary neurological drug therapies and technologies. The assets include drug candidates for treating mild traumatic brain injury and Niemann Pick Disease Type C, as well as Odyssey's proprietary powder formulation and nasal delivery device. The deal, expected to close in Q4 2023, includes cash payments of $1.0M and 8M shares of Oragenics' Series F Convertible Preferred Stock.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 10:33 am

ORTX

Orchard Therapeutics Plc (NASDAQ:ORTX) has agreed to be acquired by Japan-based pharmaceutical company Kyowa Kirin Co. for $16.00 per American Depositary Share (ADS), a 144% premium over the previous 30-day average. An additional $1.00 contingent value right (CVR) will be paid for $17.00 per ADS if conditions are met. The acquisition will allow Kyowa Kirin to maximize the value of Orchard's Libmeldy and accelerate the development of Orchard's other programs. The deal is expected to close in Q1 2024.

Portfolio Pulse from Nabaparna Bhattacharya

October 05, 2023 | 10:25 am

ORTX

Orchard Therapeutics has agreed to be acquired by Japan's Kyowa Kirin for $16.00 per ADS in cash, with an additional contingent value right of $1.00 per ADS. This has led to a rise in Orchard Therapeutics' share price.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 10:19 am

DOV

Dover Corp (NYSE:DOV) has agreed to acquire FW Murphy Production Controls, a subsidiary of Genisys Controls LLC, for $530 million in cash. The deal is expected to close in Q4 2023 and will be accretive to Dover's margin. FW Murphy, which offers control and optimization solutions for the natural gas production industry, is projected to generate revenue of around $120 million in 2023. Post-acquisition, FW Murphy will become part of the Dover Precision Components operating unit.

Portfolio Pulse from Lekha Gupta

October 05, 2023 | 9:39 am

AAPL

GOOG

MSFT

Apple Inc. had considered replacing Google with DuckDuckGo as Safari’s default search engine for its private mode, but dismissed the idea. The decision was revealed during the ongoing antitrust trial against Google. Apple's executive, John Giannandrea, argued that DuckDuckGo’s reliance on Bing for search information might lead to sharing user information with Microsoft Corporation, contradicting DuckDuckGo's privacy claims. Previously, Apple also explored the possibility of acquiring Microsoft's Bing search engine.

Portfolio Pulse from Benzinga Neuro

October 05, 2023 | 9:14 am

ORTX

Kyowa Kirin, a Japan-based pharmaceutical company, has announced a definitive agreement to acquire Orchard Therapeutics for $16.00 per American Depositary Share (ADS) in cash, totaling approximately $387.4 million. Additionally, Orchard shareholders will hold a contingent value right (CVR) of $1.00 per ADS, potentially increasing the total value of the deal to $477.6 million if certain conditions are met.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 7:46 am

BB

BlackBerry Ltd (NYSE:BB) announced its intent to separate its IoT and Cybersecurity businesses as a part of its strategic review to drive shareholder value. The company plans to pursue an IPO for its IoT business in the first half of the upcoming fiscal year. The separation will allow each business unit to pursue its own strategy and capital allocation policy. BlackBerry shares were up 4.69% after hours at $4.47.

Portfolio Pulse from Adam Eckert

October 04, 2023 | 9:34 pm

LH

Labcorp (LH) has announced plans to acquire Baystate Health, Inc.'s outreach laboratory business and select operating assets. The terms of the deal have not been disclosed.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 8:26 pm

DOV

Dover (NYSE:DOV) has announced a definitive agreement to acquire FW Murphy Production Controls, a subsidiary of Genisys Controls LLC, for $530 million in cash. The transaction is expected to close in Q4 2023. FW Murphy, a leading provider of control and optimization solutions for the reciprocating compression industry, will become part of Dover's Precision Components operating unit. The acquisition is expected to generate approximately $120 million in revenue in 2023.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:23 pm

SOLO

ElectraMeccanica Vehicles has terminated its arrangement agreement with Tevva due to multiple breaches, including failures to disclose material information. The decision was made by ElectraMeccanica's Board of Directors. The company intends to explore all legal recourse available and believes it remains well-capitalized. It plans to continue exploring other strategic third-party opportunities and potential options for its business.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:18 pm