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Acquisitions Mergers

GS

Goldman Sachs Group Inc (GS) is planning to offer its affluent clients the opportunity to acquire ownership in private sports teams. The bank is creating a 'sports franchise' division within its investment banking segment, merging sports-related mergers and acquisitions with sports financing. The bank has not disclosed the specific teams available for investment but has been involved in high-profile transactions in the past. GS shares are up 0.20% at $345.25 during the premarket session on the last check Friday.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 1:13 pm

ACB

CNTMF

JAZZ

SMG

VFF

Several cannabis companies have announced changes in their leadership, including board appointments and executive promotions. These include ZYUS Life Sciences, Unrivaled Brands, CannaPharmaRx, Shiny Health & Wellness, Cansortium, Aurora Cannabis, CanadaBis Capital, Nova Farms, Heritage Cannabis Holdings, Jazz Pharmaceuticals, Kaival Brands Innovations, The Scotts Miracle-Gro Company, Pure Sunfarms, Nextleaf Solutions, Charlotte's Web Holdings, and High Times. The changes come as the U.S. Department of Health and Human Services recommends rescheduling cannabis from a Schedule I to a Schedule III substance.

Portfolio Pulse from Jelena Martinovic

September 15, 2023 | 1:02 pm

GS

Goldman Sachs is reportedly creating a 'Sports Franchise' unit within its investment banking division. This new unit will combine sports mergers and acquisitions (M&A) with sports financing, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 12:48 pm

TTE

TotalEnergies SE (TTE) is reportedly in talks to invest $700 million in renewable energy projects developed by India-based Adani Green Energy Ltd. This follows previous investments by TotalEnergies in Adani Group companies. The company is also expanding its portfolio with major projects in Iraq, Texas, and Saudi Arabia. TTE shares are trading higher by 0.86% to $66.10 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 15, 2023 | 12:48 pm

CNXC

Concentrix, a global provider of customer experience solutions, has received all necessary regulatory approvals for its merger with Webhelp. The transaction is expected to close on or around September 25, 2023, subject to customary closing conditions.

Portfolio Pulse from Charles Gross

September 15, 2023 | 12:40 pm

CNXC

Concentrix, a global provider of customer experience solutions, has received all necessary regulatory approvals for its merger with Webhelp. The transaction is expected to close on or about September 25, 2023, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 12:02 pm

BBBYQ

OSTK

Former employees of Bed Bath & Beyond Inc. (OTC:BBBYQ) have filed a lawsuit against the committee overseeing its 401(k) retirement plan, alleging a loss exceeding $5 million from their MassMutual investment account. The account suffered a 10% loss due to rising interest rates. The lawsuit follows Bed Bath & Beyond's bankruptcy and the termination of its 401(k) plan. Overstock.Com, Inc. (NASDAQ:OSTK) recently acquired the Bed Bath & Beyond brand name, intellectual property, and ecommerce platform.

Portfolio Pulse from Nabaparna Bhattacharya

September 15, 2023 | 11:30 am

VISL

Vislink Technologies has acquired the assets of Broadcast Microwave Services (BMS), further strengthening its position in the airborne video downlink systems market.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 11:03 am

LKQ

The UK's Competition and Markets Authority (CMA) has accepted undertakings from LKQ Corporation, preventing the merger between LKQ and Uni-Select Inc. from moving to Phase 2. The undertakings signed by LKQ are effective immediately.

Portfolio Pulse from Charles Gross

September 15, 2023 | 11:03 am

JNJ

NVS

PFE

Novartis AG's shareholders have approved the 100% spin-off of Sandoz, planned for October 4, 2023. Sandoz plans to introduce at least five additional biologic drugs to enhance its attractiveness to investors. The company aims to bring five biosimilars to market within the next two years. Sandoz is the world's second-largest biosimilar manufacturer, behind Pfizer Inc. The company's adjusted core profit margins for 2023 are expected to be 18%-19%, down from 21.3% in 2022, but aims to rebound to 24%-26% by 2028.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 10:54 am