Streetbeat News

Acquisitions Mergers

SO

Southern Power, a subsidiary of Southern Company, has acquired its 29th solar project, the Millers Branch Solar Facility, from EDF Renewables. The 200 MW facility, currently in early development stages, has the potential to expand up to 500 MW. The project is expected to be operational by Q4 2025. The electricity and associated renewable energy credits generated will be sold under a 20-year virtual power purchase agreement with Thermo Fisher Scientific.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 1:01 pm

CRWD

CrowdStrike Holdings Inc's shares are trading higher after multiple analysts raised price targets on the stock. This follows several announcements made by CrowdStrike at Fal.Con 2023, including a new partner program, the next generation of Falcon with AI capabilities, new data protection innovations, and a no-code application development platform. The company also announced its agreement to acquire Bionic, a firm specializing in application security posture management.

Portfolio Pulse from Adam Eckert

September 21, 2023 | 12:46 pm

AREC

American Resources Corporation's subsidiary, ReElement Technologies, has secured $46 million in local incentives from Marion, Indiana for its 42-acre critical mineral refining campus. The campus will produce ultra-pure battery elements and rare earth elements for EV battery and permanent magnet supply chains. The incentives are in the form of an Economic Development Revenue Bond issued by the city. The campus will have an initial production capacity of 5,000 metric tons of ultra-pure lithium hydroxide or carbonate per year, and 750 metric tons per year of rare earth oxides.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:39 pm

CYTH

Cyclo Therapeutics and Applied Molecular Transport have entered into a definitive merger agreement. This has led to an increase in the trading of Cyclo Therapeutics shares.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:38 pm

CSCO

SPLK

Cisco Systems, Inc has agreed to acquire Splunk Inc for $157 per share in cash, a total equity value of approximately $28 billion. This has led to a rally in Splunk's stock prices, while Cisco's stock prices fell. The acquisition is expected to be cash flow positive and gross margin accretive in the first fiscal year post-close and non-GAAP EPS accretive in year two. The transaction is expected to close by the end of the third quarter of 2024.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 12:37 pm

IVP

Inspire Veterinary Partners (IVP) has announced a non-binding letter of intent to acquire 100% ownership in an animal hospital in Pennsylvania. This acquisition, expected to close in October 2023, will add one new animal hospital to IVP's existing network of 13 animal hospitals and mark its entry into Pennsylvania. The company also has an active pipeline of attractive acquisitions to be announced in 2023.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:36 pm

DDD

DM

SSYS

3D Systems (NYSE:DDD) has issued a public letter to shareholders of Stratasys Ltd. (NASDAQ:SSYS) supporting the recommendation of Institutional Shareholder Services (ISS) to vote against Stratasys' planned acquisition of Desktop Metal (NYSE:DM). ISS believes that 3D Systems' alternative offer to acquire Stratasys presents a more convincing route to value creation for SSYS shareholders. The ISS report also criticizes Stratasys' management and Board's ability to act in the best interest of its shareholders.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:35 pm

MURF

Murphy Canyon Acquisition announced that its stockholders have approved the proposed combination with Conduit Pharmaceuticals Limited. This news led to an increase in the trading of Murphy Canyon Acquisition shares.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:32 pm

LIVE

Live Ventures has acquired Naturally Aged Flooring, Harris, Kraus, and Heritage Mill Wood Flooring Brands from Q.E.P. for approximately $10 million.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:32 pm

CSCO

SPLK

Cisco has announced its plans to acquire Splunk for approximately $28 billion. This has resulted in a surge in Splunk's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:17 pm