Streetbeat News

Acquisitions Mergers

BABA

FXI

INTC

KWEB

Alibaba Group Holding Limited (BABA) stock is trading lower in line with broader indexes. Alibaba Pictures Group is looking to acquire a majority stake in Pony Media Holdings, which owns Damai, a significant producer of live performances in China. The $167 million deal aims to expand Damai's presence in the live entertainment industry. Alibaba Pictures will issue approximately 2.5 million shares to Alibaba Investment Limited to fund the purchase. This move will increase Alibaba Group Holding's stake in Alibaba Pictures to about 54.26%. Freshippo, the high-tech supermarket chain, is rapidly expanding its presence in China. It plans to open 30 stores nationwide in September. Alibaba is using Intel Corp's (INTC) newest central processors to serve up chatbot technology.

Portfolio Pulse from Anusuya Lahiri

September 20, 2023 | 12:14 pm

WDC

Japanese banks are preparing to lend up to $13 billion for the merger of Kioxia and Western Digital (WDC), as reported by Bloomberg.

Portfolio Pulse from Charles Gross

September 20, 2023 | 11:58 am

APCX

AppTech Payments Corp. has announced a letter of intent to acquire FinZeo. The details of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:32 am

EH

EHang Holdings Limited (NASDAQ:EH) has announced a strategic investment in Shenzhen Inx Technology Co., Ltd., a solid-state lithium metal battery technology company in China. The investment is part of a plan to cooperate with Inx on the research, development, and production of solid-state lithium metal batteries for EHang's autonomous aerial vehicle (AAV) products. The funding round was led by GL Ventures, with participation from Connected Intelligence Fund, Qilu Qianhai Fund, EHang, and Fenghe Capital.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:28 am

FWRD

Forward Air Corporation (NASDAQ:FWRD) has announced a private offering of $925 million of senior secured notes due 2031. The proceeds will be used to pay for its merger with Omni, repay existing debts, and cover transaction costs.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:26 am

CDNS

CEVA

Cadence Design Systems, Inc. (CDNS) has agreed to acquire Intrinsix Corp. from CEVA, Inc. (CEVA). The financial terms of the deal were not disclosed. The acquisition is expected to have an immaterial impact on Cadence's revenue and earnings for this year.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:02 am

AZN

PFE

AstraZeneca's Alexion unit has completed the purchase and license agreement for an early-stage rare disease gene therapy portfolio from Pfizer. The deal is worth up to $1 billion, plus tiered royalties on sales.

Portfolio Pulse from Charles Gross

September 20, 2023 | 8:50 am

GS

KKR

Goldman Sachs is reportedly in advanced talks to sell GreenSky to a group including Pimco, KKR, and Sixth Street, according to The Wall Street Journal.

Portfolio Pulse from Charles Gross

September 20, 2023 | 8:41 am

BRDS

Bird Global, Inc. (NYSE:BRDS) has acquired micromobility operator Skinny Labs for $19 million, making Bird the largest micromobility operator in North America by market share. The acquisition is expected to have an immediate impact in the third quarter and contribute to Bird's long-term sustainable profitability.

Portfolio Pulse from Ryan Gustafson

September 19, 2023 | 9:54 pm