Streetbeat News

Acquisitions Mergers

DIS

NXST

Media mogul Byron Allen has made a $10 billion offer to acquire parts of Walt Disney Co's (NYSE:DIS) media empire, including the ABC TV network, local stations, FX, and National Geographic cable channels. The offer is based on the assumption that these properties have generated $1.25 billion in EBITDA in 2022. Disney has also reportedly begun discussing the potential sale with Nexstar Media Group Inc (NASDAQ:NXST).

Portfolio Pulse from Anusuya Lahiri

September 15, 2023 | 10:41 am

NVS

Novartis shareholders have approved the proposed 100% spin-off of Sandoz. In connection with the spin-off, shareholders also approved a reduction of share capital.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 9:48 am

ADBE

CPRT

JBHT

LITB

MITK

Adobe Inc. reported better-than-expected Q3 earnings but issued in-line sales forecast for Q4, leading to a 1.8% drop in shares. Copart, Inc. and Mitek Systems, Inc. reported upbeat Q4 and Q2 results respectively, leading to slight gains in shares. LightInTheBox Holding Co., Ltd. is set to release its Q2 results. J.B. Hunt Transport Services, Inc. announced plans to acquire brokerage assets of BNSF Logistics, LLC, leading to a 1.6% gain in shares.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 7:02 am

PLTK

Playtika has acquired Israeli mobile gaming studio Innplay Labs in a deal valued up to $300 million.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:56 am

ABCM

DHR

Abcam plc (NASDAQ:ABCM) has expressed surprise at Dr. Jonathan Milner's opposition to the proposed acquisition of all outstanding shares of Abcam by Danaher Corporation (DHR) for $24.00 per share in cash. The company believes this may be an attempt to create confusion among shareholders before the vote.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:07 am

ARM

NVDA

SFTBY

Arm Holdings, the company behind the CPUs essential for Nvidia's GPUs in AI operations, debuted in the market with the largest IPO of 2023, valued at $54.5 billion. SoftBank, which acquired Arm Holdings in 2016, is retaining 90% of the company and sold 10% of its position to investors. SoftBank's founder, Masayoshi Son, expressed his intention to retain as much stake in Arm Holdings as possible, citing his long-term belief in the company.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 10:37 pm

AAPL

ARM

NVDA

QCOM

SFTBY

ARM Holdings PLC made its market debut with the year's largest IPO, valued at $54.5 billion. The shares closed at $63.59, up from the IPO price of $51. ARM, known for producing CPUs for Nvidia's AI-driven GPUs, was acquired by SoftBank in 2016. SoftBank retains 90% ownership, selling 10% in the IPO. ARM's CEO discussed the company's growth prospects and ongoing lawsuit with Qualcomm. The lawsuit could potentially disrupt U.S. competitiveness in the semiconductor field. ARM's revenue for fiscal 2023 slightly decreased to $2.679 billion from $2.703 billion.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 9:05 pm

WINV

WinVest Acquisition Corp. has announced an extension of its termination date and an additional contribution to its trust account. The business combination deadline has been extended by one month from September 17 to October 17, and an additional $65K has been deposited into the trust account.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:30 pm

NETC

Nabors Energy Transition Corp. (NETC) has announced an extension of the deadline to complete its business combination to October 18.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:17 pm

JBHT

J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) has announced its plans to acquire the brokerage assets of BNSF Logistics. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:16 pm