Streetbeat News

Acquisitions Mergers

FORM

Camtek has announced its plans to acquire the FRT meteorology business from FormFactor. This news has led to an increase in FormFactor's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 4:14 pm

CAMT

Camtek announced it will acquire FormFactor's FRT meteorology business, leading to a rise in Camtek's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 4:13 pm

PLNHF

PLTH

TCNNF

Planet 13 Holdings Inc. is planning to acquire VidaCann, a company operating 26 dispensaries in Florida. The acquisition, expected to close by January 2024, is valued at approximately $49 million and includes a fully operational greenhouse cultivation facility and an advanced processing and analytical lab. The deal is expected to make Planet 13 a significant player in Florida's cannabis market, which is already substantial, surpassing $1.4 billion. The recent increase in stock prices, driven by the HHS rescheduling news, indicates a looming wave of consolidation in the cannabis market.

Portfolio Pulse from Nicolás Jose Rodriguez

September 18, 2023 | 4:01 pm

CAMT

FORM

Camtek Ltd (NASDAQ:CAMT) has agreed to acquire FormFactor Inc's (NASDAQ:FORM) FRT Metrology business for $100 million in cash. The acquisition is expected to solidify Camtek's market position and contribute over $30 million to the annual revenues in 2024. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 3:55 pm

ACN

Accenture Plc has made a strategic investment in generative AI content platform Writer through Accenture Ventures. Writer is designed to help organizations deploy AI-driven applications to increase productivity and drive business impact across enterprise functions. Accenture started using Writer in 2021 and is now scaling its generative AI capabilities internally and preparing to offer them to clients. Accenture's shares are trading higher by 0.87% at $315.25.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 3:13 pm

BABA

Ant Group, an affiliate of Alibaba (NASDAQ:BABA), is withdrawing its investment from crypto-focused A&T Capital. This comes after the resignation of founding partner, Yu Jun, amid allegations of sexual harassment and a general downtrend in crypto venture funding. Ant Group has shifted its focus towards AI, introducing an AI model and a tool for financial professionals.

Portfolio Pulse from Khyathi Dalal

September 18, 2023 | 2:45 pm

AAPL

BABA

SBUX

SFTBF

TSLA

The article discusses various financial news. Bitcoin's value in 2021 was enough to purchase a Tesla Model Y. Softbank is exploring investing in OpenAI following a successful IPO of Arm Holding. Ford is facing strikes from UAW in the US and potentially in Canada. Apple's iPhone 15 Pro and Pro Max preorders are strong, and the company has major announcements for 2024. Starbucks has promoted Molly Liu to co-CEO of China Business. KKR acquires SingTel's regional data centre unit for $807M. Chevron's Australian gas facility resumes full production. China Evergrande Group's wealth management staff are detained. Novo Nordisk's Clayton plant faces quality control issues. Alibaba plans a $2B investment in Turkey.

Portfolio Pulse from Vandana Singh

September 18, 2023 | 2:26 pm

GPP

GPRE

Green Plains Partners LP (GPP) and Green Plains Inc. (GPRE) have entered a definitive merger agreement. The transaction, expected to close in 4Q23, will see GPP become a wholly-owned subsidiary of GPRE. The deal offers a 20% premium over the closing price of GPP's common units as of May 3, 2023. The merger aims to simplify the corporate structure, boost earnings, and align strategic interests.

Portfolio Pulse from Akanksha Bakshi

September 18, 2023 | 2:10 pm

KKR

Investment firm KKR & Co Inc has signed an agreement to acquire a 20% stake in Singtel’s regional data center business for $800 million. The investment is part of KKR’s Asia infrastructure strategy and values Singtel’s data center business at $5.5 billion. KKR has the option to increase its stake to 25% by 2027. The proceeds from the transaction will be used to expand the data center business across ASEAN markets.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 2:00 pm

PRTK

Paratek Pharmaceuticals (NASDAQ:PRTK) has announced that its stockholders have approved the merger agreement proposal at a special meeting, in connection with the previously announced definitive agreement to be acquired by Gurnet Point Capital and Novo Holdings A/S. Final voting results will be disclosed on Form 8-K filed by Paratek with the U.S. Securities and Exchange Commission.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:39 pm