Streetbeat News

Acquisitions Mergers

DOGEUSD

TWTR

Elon Musk's new biography reveals his skepticism about using blockchain technology for Twitter, despite his interest in cryptocurrencies like Dogecoin. The book also discusses Sam Bankman-Fried, former CEO of FTX, and his enthusiasm for incorporating blockchain into Twitter. Musk's primary banker at Morgan Stanley, Michael Grimes, tried to facilitate a meeting between Musk and Bankman-Fried, who was willing to contribute $5 billion to the potential acquisition of Twitter.

Portfolio Pulse from Mehab Qureshi

September 12, 2023 | 9:39 am

SMFKY

WEST

Smurfit Kappa and WestRock Coffee have announced a merger, creating a paper and packaging giant valued at nearly $20B. WestRock shareholders will receive one new Smurfit WestRock share and $5.00 in cash, equivalent to $43.51 a share.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 7:24 am

LCW

Learn CW Investment has announced an extension of the period to consummate its initial business combination to October 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 5:50 am

EDR

WWE

World Wrestling Entertainment, Inc (WWE) is set to merge with UFC parent company Endeavor Group Holdings Inc (EDR) on Tuesday. The new company, TKO Group Holdings, will be traded on the NYSE under the ticker 'TKO' and is valued at $21 billion. Vince McMahon will retain his executive chair at WWE and step into the executive chair position of the new company, securing a 16% ownership stake. Endeavor will own 51% of TKO, while WWE's factions will retain 49% control.

Portfolio Pulse from AJ Fabino

September 11, 2023 | 9:30 pm

DDD

SSYS

3D Systems has announced that Stratasys' board continues to support the merger with Desktop Metal as its preferred alternative and is not interested in further discussions.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:58 pm

DDD

SSYS

3D Systems has proposed an enhanced offer to Stratasys, where each Stratasys share will convert into $7.00 in cash and ownership of 46% of the aggregate shares of the combined company. 3D Systems believes this consideration mix is worth more than $27 per share to Stratasys shareholders inclusive of synergies.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:56 pm

WTMA

Welsbach Technology Metals Acquisition (WTMA) has announced a non-binding letter of intent for a business combination that would result in 100% ownership. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:18 pm

CLDI

First Light Acquisition Group has announced that its business combination transaction with Calidi Biotherapeutics has been approved for listing on the NYSE. The transaction, expected to be completed on September 12, 2023, will provide Calidi with approximately $28 million in gross proceeds. Additionally, Calidi has secured a forward purchase agreement for up to $10 million with a consortium including Meteora Capital LLC, Great Point Capital LLC, and Funicular Funds, LP. The listed company will be named Calidi Biotherapeutics, Inc. and will trade under the ticker symbols 'CLDI' and 'CLDI WS'.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 8:13 pm

AMZN

GOOGL

MSFT

NVDA

Alphabet CEO Sundar Pichai is confident in Google's AI development despite Microsoft's early lead. Pichai believes that Google can do more after people have understood how AI technology works. Google's AI divisions, Deep Mind and Google Brain, have merged to speed up AI development. Google is also expanding its AI offering within cloud services, in collaboration with Nvidia. Pichai supports government regulation for AI due to the potential risks it poses.

Portfolio Pulse from Natan Ponieman

September 11, 2023 | 7:43 pm

FTTUSD

TRON

TRXUSD

Justin Sun, the founder of Tron (CRYPTO: TRON), is considering a tender offer for (CRYPTO: TRX) tokens currently held by FTX (CRYPTO: FTT) to protect the cryptocurrency community from potential market turbulence. FTX plans to liquidate around $3.4 billion in highly liquid cryptocurrencies at a rate of $100–$200 million weekly, pending court approval. Sun's move aims to reduce the selling impact on the crypto community.

Portfolio Pulse from Murtuza Merchant

September 11, 2023 | 7:21 pm