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Acquisitions Mergers

EPOL

SHEL

Poland's Unimot is in talks to buy a 37.5% stake in Germany's PCK Schwedt refinery, currently owned by Shell. The refinery, majority-owned by Russia's Rosneft, has been a problem for the German government since it ended energy ties with Moscow. This led Shell to revive plans to sell its stake in the refinery. Unimot is expanding international trading and seeking to import diesel to Germany amid EU sanctions on Russian oil and refined products.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 4:59 pm

AMZN

CRM

GOOG

MSFT

SKM

Amazon has announced a collaboration with AI company Anthropic, with plans to invest up to $4 billion for a minority ownership position. The investment follows a trend of large tech companies investing in AI, with Microsoft investing $10 billion in OpenAI earlier this year. Anthropic has also attracted investments from Alphabet, Salesforce, Zoom Video Communication, and SK Telecom. FTX, a bankrupt cryptocurrency platform, is an early investor in Anthropic and its stake in the company could be a significant asset in its bankruptcy proceedings.

Portfolio Pulse from Chris Katje

September 25, 2023 | 4:33 pm

AAPL

AMZN

BIIB

DLAKY

GOOG

NVS

PFE

RNAZ

TSN

WMT

Several significant business events have occurred. Ford of Canada has reached a collective agreement with Unifor union, including wage increases and pension improvements. Amazon has invested $4 billion in AI startup Anthropic. PhonePe, backed by Walmart, has launched the Indus AppStore Developer Platform to challenge Google's dominance in India. Goodyear plans to redefine its operational presence in the Asia Pacific region. Pfizer's RSVpreF vaccine has been recommended by the CDC for pregnant people. Mercedes Benz has partnered with Mastercard to introduce in-car digital payments. Novartis plans to spin-off the Sandoz business. Eisai and Biogen's Alzheimer treatment Leqembi has been approved in Japan. Alcoa has appointed William F. Oplinger as President and CEO. TransCode Therapeutics' stock is trading higher after positive results with its therapeutic candidate, TTX-MC138. Tyson Foods and Perdue Farms are under investigation over alleged child labor violations. OpenAI has unveiled a new feature for its ChatGPT application, enabling verbal responses. Apple's iOS 17 update allows users to opt for a search engine other than Google. Austrian Airlines faced backlash for making inaccurate environmental claims.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 2:58 pm

NVS

Novartis AG has confirmed its plans for a 100% spin-off of the Sandoz business after shareholders approved it. Key regulatory approvals have been obtained, including the approval for listing the Sandoz shares on the SIX Swiss Exchange. Sandoz ADRs are expected to be traded on the OTCQX. Sandoz has secured debt financing of $3.75 billion and plans to introduce at least five additional biologic drugs. Sandoz reported sales of $9.1 billion in 2022 and expects net sales to grow in the mid-single digits through 2028.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 2:38 pm

HZO

MarineMax Inc (NYSE:HZO) has announced that its subsidiary, Fraser Yachts, will acquire a controlling interest in Atalanta Golden Yachts, a Greece-based charter management agency. The acquisition, whose financial details were not disclosed, is expected to close by the end of December 2023 and be accretive in its first full year of operations. MarineMax's shares are trading higher by 0.76% at $31.75.

Portfolio Pulse from Shivani Kumaresan

September 25, 2023 | 2:33 pm

AJG

Arthur J. Gallagher & Co. has announced the acquisition of San Diego-based Hartley Cylke Pacific Insurance Services, Inc. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:06 pm

GDNR

Gardiner Healthcare Acquisitions Corp. plans to deposit $100,000 into its trust account to extend the deadline for its initial business combination from September 27, 2023, to October 27, 2023. The extension has been approved by the company's board of directors. If the extension is not funded, the company will cease all operations except for winding up, redeem 100% of the public shares, and dissolve and liquidate, subject to approval from remaining stockholders and the board of directors.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 12:46 pm

TSLA

Tesla Inc. is expanding its operations in Thailand, developing innovative manufacturing techniques, and advancing in the field of humanoid robotics. CEO Elon Musk met with Thailand's Prime Minister to discuss opportunities in the Thai EV sector. Tesla is also developing the Gigapress, a machine to reduce assembly time and costs. Furthermore, Tesla's humanoid bot, Optimus, is set to rely on neural networks and cameras, with plans to release the first bot by November.

Portfolio Pulse from Mohit Manghnani

September 25, 2023 | 12:41 pm

ENOV

Enovis Corp (NYSE:ENOV) has agreed to acquire LimaCorporate S.p.A. for an enterprise value of approximately €800 million ($850 million). The acquisition will expand ENOV's international presence and product mix, and is expected to create a $1 billion revenue reconstruction business. The deal is expected to be completed in early FY24, subject to regulatory approvals. The company expects the acquisition to be neutral to slightly accretive to FY24 adjusted earnings per share and accretive in FY25 and beyond.

Portfolio Pulse from Lekha Gupta

September 25, 2023 | 12:28 pm

Air Canada has ordered 18 Boeing 787-10 widebody jets, with an option to purchase 12 more, as part of its strategy to reduce carbon emissions and expand its global route network. The 787-10 is the largest model in the Dreamliner family and is highly fuel efficient, reducing fuel use and improving efficiency by up to 25% compared to previous generation jets. Air Canada currently operates a fleet of 38 787s, including eight 787-8 and 30 787-9 jets.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 12:09 pm