Streetbeat News

Acquisitions Mergers

ACN

Accenture (NYSE:ACN) has acquired Tokyo-based integrated marketing firm SIGNAL, previously owned by VECTOR, Japan's largest PR group. The acquisition enhances Accenture's marketing capabilities across owned, paid, and earned media. Approximately 100 industry experts from SIGNAL have joined Accenture's marketing operations team in Japan.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:01 am

COHU

Cohu, Inc. (NASDAQ:COHU) has acquired Equiptest Engineering Pte. Ltd., a provider of semiconductor test contactors and other consumables with a trailing twelve months revenue of approximately $20 million. The acquisition is expected to be accretive to Cohu's fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:16 am

CMI

Cummins Inc. has completed its acquisition of two Faurecia commercial vehicle manufacturing plants in the US and Netherlands. The total transaction value was €199.2 million, which Cummins financed using cash on its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:11 am

PSHZF

Bill Ackman's firm, Pershing Square Holdings Ltd (OTC:PSHZF), has obtained regulatory approval for a novel investment vehicle, Pershing Square SPARC Holdings, aimed at investing in privately held companies with the intention of taking them public. Ackman has expressed interest in investing in X, a social media platform owned by Elon Musk. However, the likelihood of such a deal is low due to the platform's declining ad revenues and $13 billion debt under Musk's leadership.

Portfolio Pulse from Ramakrishnan M

October 02, 2023 | 6:35 am

AAPL

GOOG

MSFT

Tech analyst Mark Gurman suggests that Apple Inc. may be developing its own search engine, potentially replacing Google. Apple has been reducing its reliance on Google and has been developing its own search technologies. The company has also made acquisitions and investments in AI and search technologies, such as Laserlike. John Giannandrea, formerly of Google and now overseeing AI at Apple, leads a substantial search team. Apple's pursuit of enhancing its search capabilities indicates that it's not a matter of 'if' but 'when' it will launch its own search engine.

Portfolio Pulse from Ananya Gairola

October 02, 2023 | 2:07 am

CPCAY

EADSY

Airbus SE has received an order worth $4.66 billion from Hong Kong's Cathay Pacific Airways for an additional 32 Airbus A320neo Family aircraft. This doubles Cathay's total orders for the A320neo Family to 64, with 13 already delivered. The new aircraft are expected to be delivered by the end of 2029 and will serve routes connecting the Chinese mainland and various Asian destinations.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 3:58 pm

DHR

VLTO

Danaher Corporation has completed the spin-off of its Environmental & Applied Solutions segment, Veralto Corporation. Veralto will begin trading on the NYSE under the symbol 'VLTO' on October 2, 2023. Danaher stockholders received one share of Veralto for every three shares of Danaher held as of September 13, 2023. Approximately 246 million shares of Veralto were distributed.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:01 pm

GOOG

GOOGL

NFLX

Billionaire investor Bill Ackman has acquired a significant stake in Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), following Warren Buffett's investment strategy. Ackman's fund, Pershing Square Capital Management, initially acquired approximately 8.1 million Class C shares and 2.2 million Class A shares of Alphabet in Q1 2021, amounting to nearly $1.1 billion by the end of March. The fund added 1.3 million Class C shares in Q2, raising the value of the position to $1.4 billion. Alphabet now constitutes about 16% to 17% of the fund's capital.

Portfolio Pulse from Ananya Gairola

September 30, 2023 | 8:26 am

DWAC

FOX

Former President Donald Trump and Chris Christie, a Republican candidate for the 2024 presidential race, have been involved in a heated exchange after Trump skipped the second Republican primary debate. Trump used his Truth Social platform, set to merge with Digital World Acquisition Corporation (NASDAQ:DWAC), to criticize Christie. The debate was aired on Fox Business, a unit of Fox Corporation (NASDAQ:FOX).

Portfolio Pulse from Chris Katje

September 29, 2023 | 9:12 pm

RIVN

Rivian has agreed to build an electric vehicle (EV) manufacturing plant in Georgia, creating 7,000 new jobs for full-time employees and making a minimum capital investment of $5 billion in the project.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:16 pm