Streetbeat News

Acquisitions Mergers

FTLF

FitLife Brands Inc (NASDAQ:FTLF) has received approval from the U.S. Bankruptcy Court for the District of Nevada for its acquisition of MusclePharm Corporation's assets. The $18.5 million deal will be funded through cash on hand and a new $10 million term loan. FitLife plans to return the brand to growth and enhance profitability through a focus on online sales and expanded wholesale distribution. The transaction is expected to close by October 16, 2023.

Portfolio Pulse from Shivani Kumaresan

September 28, 2023 | 11:07 am

AGCO

TRMB

AGCO Corporation has entered into a joint venture with Trimble, acquiring an 85% stake in Trimble's agricultural assets and technologies for $2.0 billion and the contribution of JCA Technologies.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:07 am

ALTG

Alta Equipment has signed an agreement to acquire Burris Equipment Company for $14.0 million in cash.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:03 am

SJM

J.M. Smucker Company (NYSE:SJM) has agreed to sell its Sahale Snacks brand to Second Nature Brands for approximately $34 million in an all-cash deal. The transaction includes all trademarks, a leased manufacturing facility in Seattle, and about 100 employees. The company expects the impact of the divestiture to be immaterial on its adjusted EPS on a full-year basis. The deal is expected to close in Q3.

Portfolio Pulse from Lekha Gupta

September 28, 2023 | 10:36 am

AAPL

META

In a recent interview, Meta Platforms Inc.’s Mark Zuckerberg discussed his vision for artificial intelligence, the future of virtual reality, and how Elon Musk’s acquisition of Twitter inspired him to create Threads, a rival platform. He also talked about the potential of AI integration, the shift of VR from gaming to social experiences, and his optimism about augmented and virtual reality. Despite early user engagement drop, Zuckerberg remains determined to make Threads a platform used by a billion people.

Portfolio Pulse from Ananya Gairola

September 28, 2023 | 10:14 am

LBBB

Nature's Miracle Holdings Inc. has entered into a non-binding Memorandum of Understanding with PowerGrow Inc. to develop a nationwide portfolio of clean energy enclosed greenhouses. This follows a definitive business combination agreement between Nature's Miracle Inc. and Lakeshore Acquisition II Corp. (NASDAQ:LBBB). Post-merger, the combined company is expected to be named Nature's Miracle Holding Inc. and its common stock is expected to be traded on the Nasdaq Global Market.

Portfolio Pulse from Charles Gross

September 28, 2023 | 10:09 am

C

HSBC

HSBC is set to acquire Citigroup's China Consumer Wealth Business, as reported by Reuters. This move is part of HSBC's strategy to expand its business in China.

Portfolio Pulse from Charles Gross

September 28, 2023 | 8:48 am

ABCM

DHR

Jonathan Milner, the founder and one of the largest investors in Abcam, has urged shareholders to reject the acquisition offer from Danaher in an open letter.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 7:29 am

IBKR

Interactive Brokers (IBKR) is consolidating its European operations into Ireland, enhancing its presence in the region. This move is expected to streamline operations and improve efficiency.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 7:18 am

SAMA

Schultze Special Purpose Acquisition II (SAMA) has decided to redeem public shares and call off its initial business combination. This decision may impact the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 6:06 am