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Acquisitions Mergers

AMZN

BFYW

KR

Better For You Wellness, Inc. (BFYW) is set to acquire The Ideation Lab (TIL) and its subsidiaries, including Jordre Well and its CBD coffee brand, in a deal valued at $3 million. The transaction will be conducted entirely in BFYW stock, with TIL shareholders receiving preferred shares. TIL's products have secured sales channels at Kroger (KR), Amazon (AMZN), and various resorts and retailers. The transaction is expected to conclude by November 15, 2023.

Portfolio Pulse from Maureen Meehan

September 19, 2023 | 10:00 am

AMZN

MSFT

Microsoft's Chief Product Officer, Panos Panay, is reportedly leaving the company to join Amazon, where he will run the division responsible for Alexa and the Echo smart speakers. This comes ahead of Amazon's annual Devices & Services event. Microsoft's consumer chief marketing officer, Yusuf Mehdi, has reportedly taken over from Panay.

Portfolio Pulse from Shanthi Rexaline

September 19, 2023 | 9:28 am

CS

UBS

UBS has reported that South Korea, India, Ireland, and Saudi Arabia are slow in granting approvals related to the takeover of Credit Suisse. This could lead to winding down businesses and asset sales due to uncertainties in securing regulatory approvals, according to an internal document cited by Reuters.

Portfolio Pulse from Charles Gross

September 19, 2023 | 8:43 am

ERJ

Embraer's subsidiary has sold its cybersecurity business unit, AllowMe Tecnologias, for $45 million.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 5:04 am

DBO

IEO

IEZ

UCO

The U.S. and Iran have completed a prisoner swap, which also unlocked $6 billion in oil funds that the U.S. was holding from Iran. This could potentially lead to improved relations between the two nations and impact the oil sector. The U.S. has agreed to unfreeze $6 billion in Iran's name which was held in South Korea. The money came from the purchase of Iranian oil by South Korea in 2018. The U.S. sanctions that have accumulated since 1979 bar U.S.-based companies from investing in Iran's oil industry. If U.S.-Iran talks improve and the countries return to talks of a new nuclear deal, the U.S. would remove sanctions, potentially impacting oil and energy ETFs such as iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO), ProShares Ultra Bloomberg Crude Oil (NYSE:UCO), Invesco DB Oil Fund (NYSE:DBO), and iShares US Oil Equipment & Services ETF (NYSE:IEZ).

Portfolio Pulse from Natan Ponieman

September 18, 2023 | 9:23 pm

LGND

Ligand Pharmaceuticals has spun out its Pelican subsidiary and merged it with Primordial Genetics to form a new entity, Primrose Bio. Ligand will retain commercial royalties related to the Pelican Expression Technology and will own 49.9% of Primrose Bio.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 9:18 pm

UPTD

TradeUP Acquisition has announced an extension of the deadline for its initial business combination to October 19, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 9:01 pm

ELUT

Elutia has announced the sale of its Orthobiologics business unit to Berkeley Biologics LLC, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:21 pm

CRM

Salesforce has been recruiting back former executives to help reignite growth. The company has brought back at least eight executives this year, including Ariel Kelman, former marketing executive at Amazon Web Services and Oracle, and Miguel Milano, who led sales in major international markets for Salesforce. The company is revamping its strategy around sales and marketing after cutting 10% of its workforce this year. Salesforce's stock has risen 62% this year, double the gains for the Nasdaq, despite a challenging economy and slowing growth.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:14 pm

ACNT

DOW

Ascent Industries Co. (NASDAQ:ACNT) has appointed J. Bryan Kitchen as president of Ascent Chemicals. Kitchen brings nearly two decades of senior leadership experience in the chemicals industry, having held management roles for several global industry leaders. He served as president, CEO and chairman of the board for Clearon Corp., and as the president of Xingfa USA, a division of Hubei Xingfa Chemicals Ltd. He also served as vice president of business operations at ANGUS Chemical Company, which was carved-out from The Dow Chemical Company (NYSE:DOW).

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:11 pm