Streetbeat News

Acquisitions Mergers

CENT

KDP

MDLZ

Keurig Dr Pepper Inc (KDP) has appointed Tim Cofer, current CEO of Central Garden & Pet Company (CENT), as its new Chief Operating Officer, effective from Nov. 6, 2023. Cofer will take over as CEO in Q2 2024, with current CEO Bob Gamgort transitioning to Executive Chairman. Cofer brings over 30 years of experience in consumer packaged goods, including a 25-year stint at Mondelez International, Inc. (MDLZ).

Portfolio Pulse from Shivani Kumaresan

September 21, 2023 | 10:58 am

CTG

Cegeka Groep NV and Computer Task Group, Incorporated (NASDAQ:CTG) announced that the offer to acquire all outstanding shares of CTG has been extended until October 13, 2023. As of September 20, 2023, approximately 76.5467% of the outstanding shares had been tendered into the offer.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 10:58 am

WTI

W&T Offshore, Inc. (NYSE:WTI) has completed the acquisition of working interests in eight shallow water oil and gas producing assets in the Gulf of Mexico from an undisclosed private seller for a gross consideration of $32 million. The assets were acquired using the company's cash on the balance sheet and are expected to add proved reserves of 3.2 million barrels of oil equivalent.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 10:49 am

UBS

UBS Group AG has reportedly terminated around 70% of the Hong Kong-based staff at Credit Suisse's securities research unit following the integration of operations. This follows UBS's plans to reduce at least 100 positions and axe roles like relationship managers in Hong Kong and Singapore that have been integrated from Credit Suisse. UBS shares are trading lower by 0.84% to $25.96 premarket on the last check Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 10:46 am

GEHI

Gravitas Education Holdings Inc. (GEHI) has announced a special cash dividend ranging from $11.256 to $12.17 per American Depositary Share (ADS), or from $0.5628 to $0.6085 per ordinary share. The total cash dividends to be paid range from $16 million to $17.3 million, funded by the company's cash balance. The dividend payment is conditional upon the closing of the merger with Bright Sunlight Limited. Post-dividend payment and the divestiture of GEHI's PRC education business, the company's net cash will be no less than $15 million.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 10:38 am

KN

Knowles Corporation has entered into a Purchase and Sale Agreement to acquire all of the issued and outstanding shares of Kaplan Electronics, Inc. and certain assets of Cornell Dubilier Electronics, Inc. and CD Aero, LLC for a total consideration of $263 million. The payment includes a $140 million cash payment at closing and an interest-free seller note of $123 million.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 10:06 am

MBTC

Nocturne Acquisition Corp. and Cognos Therapeutics have secured Chardan as their capital markets advisor for their upcoming business combination. The role of Chardan will be to provide strategic advice and assist in the execution of the transaction.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 5:39 am

ENVX

FDX

MARA

TSLA

UPTD

The stock market showed a mixed reaction to the Federal Reserve's decision to maintain the key overnight interest rate unchanged. TradeUP Acquisition Corp. (UPTD) saw a significant increase of 26.42% after announcing an extension for its initial business combination deadline. FedEx Corp. (FDX) experienced a slight uptick of 0.22% after reporting its first-quarter results. Marathon Digital Holdings (MARA) declined by 2.82% after announcing the completion of privately negotiated convertible note exchanges. Enovix Corporation (ENVX) decreased by 5.39% after announcing the acquisition of Korean battery manufacturer Routejade. Tesla Inc. (TSLA) shares dropped by 1.47% influenced by the broader market’s reaction to the Federal Reserve’s decision.

Portfolio Pulse from Benzinga Neuro

September 21, 2023 | 1:53 am

ATVI

MSFT

NTDOY

In a leaked email from 2020, Microsoft Gaming CEO Phil Spencer expressed interest in acquiring either Nintendo or Valve. The email was revealed as part of the FTC lawsuit aimed to block Microsoft's proposed merger with Activision Blizzard. Spencer described Nintendo as a prime asset for Microsoft in gaming and mentioned having conversations with Nintendo's leadership about closer collaboration. However, he acknowledged that a near-term merger with Nintendo didn't seem feasible.

Portfolio Pulse from Franca Quarneti

September 20, 2023 | 10:30 pm

MURF

Murphy Canyon Acquisition has announced that its stockholders have approved the proposed combination with Conduit Pharmaceuticals. The deal is expected to close soon.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 9:44 pm