Streetbeat News

Acquisitions Mergers

SMFKY

WRK

Smurfit Kappa Group (OTC:SMFKY) has announced a merger with WestRock (NYSE:WRK) expected to be completed in Q2 of 2024. The deal involves Smurfit Kappa Group giving WestRock $20.00 billion in cash & stock in exchange for WRK stock.

Portfolio Pulse from Benzinga Insights

September 12, 2023 | 3:10 pm

AVTX

Avalo Therapeutics Inc (AVTX) has agreed to sell its rights, title, and interest in assets relating to AVTX-801, AVTX-802, and AVTX-803 to AUG Therapeutics. AUG will pay an upfront payment of $150,000 and make a contingent milestone payment of up to $45 million. The transaction is expected to close in Q4 of 2023. The deal will have an immediate positive impact on Avalo's cash flow and reduce the utilization of internal resources for non-core assets.

Portfolio Pulse from Vandana Singh

September 12, 2023 | 2:44 pm

AAPL

AMZN

DKNG

F

GM

MGM

MRNA

NVAX

PFE

STLA

UPS

WRK

DraftKings apologizes for a controversial promotion on its app. MGM Resorts is dealing with a cybersecurity issue. WestRock is merging with Smurfit Kappa to create a sustainable packaging company. Moderna and Pfizer receive FDA approval for updated COVID-19 vaccines, while Novavax's vaccine is still awaiting approval. GlobalFoundries expands its presence in Singapore. Amazon invests in direct air capture climate technology. Acelyrin's izokibep fails to meet statistical significance in a study. UAW is in labor talks with General Motors, Ford, and Stellantis. Apple plans to sell 'Made in India' iPhone 15 on launch day. Arm Ltd is preparing for an IPO. Cadence Design Systems' CEO says semiconductor packaging is key to U.S. leadership in AI. UPS CEO pitches new labor contract.

Portfolio Pulse from Vandana Singh

September 12, 2023 | 2:32 pm

INTC

Intel has announced it will sell its 10% stake in the IMS Nanofabrication business to TSMC for $4.3B. This has led to a rise in Intel's share price.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 2:05 pm

EDR

TKO

WWE

Endeavor has announced the completion of a transaction involving UFC and WWE to form TKO Group Holdings. The new entity will be listed on the New York Stock Exchange under the ticker symbol 'TKO'.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 1:57 pm

JW

Justworks, Inc. has announced a definitive merger agreement with Via Global Ventures, Inc., an international employment platform. The acquisition aims to enhance Justworks' global solutions and increase small businesses' access to the global talent pool. Via, founded in 2017, provides on-the-ground employment support in 12 top talent markets worldwide. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 1:33 pm

CVX

Chevron has acquired 100% of Magnum Development and a majority interest in ACES Delta. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 1:03 pm

AJG

Arthur J. Gallagher & Co. has acquired Morgan, Trevathan & Gunn. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 1:01 pm

INTC

TSM

Intel Corporation has agreed to sell a 10% stake in its IMS Nanofabrication business to TSMC for $4.3 billion. The deal values IMS at $4.3 billion, consistent with a recent stake sale to Bain Capital. Intel will retain majority ownership of IMS, which will continue to operate as a standalone subsidiary. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:50 pm

DUOT

GSAC

GelStat Corporation's subsidiary, GSAC Engineering, has acquired key intellectual property assets from Duos Technologies Group. This acquisition could potentially enhance GelStat's position in the industrial security and clean energy industries.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:49 pm