Streetbeat News

Acquisitions Mergers

AES

AES Corporation has agreed to minority sell-downs of its businesses in the Dominican Republic and Panama, expanding its strategic partnership with Grupo Linda and forming a new partnership with Grupo Popular's subsidiary, AFI Popular. The sell-down agreements will provide collective proceeds of $190 million to AES, helping the company achieve its asset sale proceeds target for the year. The company has secured all external funding included in its 2023 capital plan.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 8:26 pm

DHC

OPI

RMR

Diversified Healthcare Trust (DHC) has announced changes to its Board of Trustees and executive leadership team, including the appointment of Phyllis Hollis as an Independent Trustee and Matthew Brown as CFO. DHC has also engaged B. Riley Securities as its financial advisor to address near term capital needs and pending debt maturities. DHC is currently not in compliance with debt incurrence covenants and has $700 million in debt maturing in 2024. The company is considering raising new capital and selling assets to address its capital needs.

Portfolio Pulse from Happy Mohamed

September 26, 2023 | 8:23 pm

GLTO

Galecto, a biotechnology company, has announced its plans to explore strategic alternatives. This could include a sale of the company, a merger, or other business combination.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 8:01 pm

MKGAF

MKKGY

RGEN

Repligen Corporation (RGEN) has agreed to acquire Sweden-based Metenova, a move that is expected to expand Repligen's market reach and enhance its capabilities in fluid management. The acquisition is projected to contribute significantly to Repligen's revenues and margins from 2023 onwards. The deal is also expected to give Repligen a competitive edge against rivals like Merck KGaA (MKGAF, MKKGY).

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:07 pm

AutoNation has submitted a non-binding preliminary proposal to acquire the entire issued and to be issued share capital of Pendragon, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:34 pm

UGRO

Urban-Gro, Inc. (NASDAQ:UGRO) has secured a contract worth over $11 million in the hospitality and recreation sector in the Southeastern U.S. The contract includes a range of services such as architecture, design, engineering, and construction management. The project is expected to be predominantly realized over the next six quarters. UGRO shares traded 6.54% up at $1.385 per share at the time of writing on Tuesday afternoon.

Portfolio Pulse from Joana Scopel

September 26, 2023 | 6:11 pm

BAH

Booz Allen Hamilton Holding Corporation (NYSE:BAH) has invested in HiddenLayer, a security platform that safeguards machine learning models, through its venture capital segment, Booz Allen Ventures. The financial terms of the deal were not disclosed. This investment is expected to enhance Booz Allen's Adversarial AI capabilities, particularly in the context of national defense threats and growing consumer expectations.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 5:49 pm

LSXMA

SIRI

Liberty Media Corporation - Series A Liberty SiriusXM (NASDAQ:LSXMA) has proposed a business combination with Sirius XM Holdings Inc (NASDAQ:SIRI). The plan involves separating LSXM through a redemptive split-off of a newly formed subsidiary, which will then be combined with SIRI to form a new company. The transaction is expected to be tax-free and is subject to negotiation and board approvals. LSXMA shares are trading higher by around 5% following the announcement.

Portfolio Pulse from Lekha Gupta

September 26, 2023 | 4:16 pm

AMZN

GOOGL

MSFT

NVDA

Amazon has announced a strategic investment of up to $4 billion in AI startup Anthropic. As part of the deal, Anthropic will use AWS as its primary cloud partner. Analysts have maintained positive ratings for Amazon, highlighting the potential for AI to boost sales and reduce expenses. Anthropic's AI assistant Claude is a rival of ChatGPT, which attracted a $10 billion investment from Microsoft. Anthropic also has a partnership and investment from Google.

Portfolio Pulse from Priya Nigam

September 26, 2023 | 3:14 pm

AMZN

GOOG

MSFT

NVDA

Amazon.com Inc (NASDAQ:AMZN) has invested $4 billion in AI company Anthropic, which makes chatbots that rival Microsoft Corporation (NASDAQ:MSFT)-backed OpenAI’s ChatGPT. The partnership will make Amazon Web Services the startup’s primary cloud provider and AWS customers will gain early access to unique features for model customization. The deal is more about chip development than chatbot rivalry, with the aim to challenge the dominance of Nvidia Corporation (NASDAQ:NVDA) in the AI chip market.

Portfolio Pulse from Upwallstreet

September 26, 2023 | 2:56 pm