Streetbeat News

Acquisitions Mergers

HOLI

Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) has received notices of intention from certain shareholders to request a special meeting to consider proposed amendments to the company's Articles, including increasing the board size from five to eleven directors. Additionally, the company received an unsolicited, non-binding offer from Recco Control Technology and Dazheng Group to acquire all issued and outstanding shares at $25.00 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:02 am

CG

Carlyle Group (NASDAQ:CG) has granted exclusive rights to Orora Group for the purchase of Saverglass, a global specialist manufacturer of high-quality glass bottles. The transaction is subject to regulatory approvals and consultation with employee representative bodies.

Portfolio Pulse from Charles Gross

September 05, 2023 | 9:28 am

AJG

Arthur J. Gallagher & Co. has announced the acquisition of UK-based Lifesure Group Limited, a provider of personal lines insurance broking services in the vacation/holiday and leisure industry. The terms of the transaction were not disclosed. As part of the deal, Gallagher will also acquire Lifesure's affiliated company Barnes Commercial.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 9:16 am

SVA

Sinovac Biotech Ltd. (NASDAQ:SVA) has unanimously rejected an unsolicited partial tender offer from Alternative Liquidity Index LP to acquire up to 10 million shares of Sinovac for $0.03 per share in cash. The board of directors determined that the offer is not in the best interests of the company or its shareholders.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:16 am

AAPL

CHTR

DIS

Disney (NYSE:DIS) is rumored to be considering offloading its ESPN cable sports channel. KeyBanc Capital Markets analyst Brandon Nispel estimates ESPN's valuation at $30 billion, with a fair value range of $28 billion to $36 billion. ESPN's revenue is estimated at $16 billion, with most growth expected from the direct-to-consumer business. Nispel also suggests that Apple (NASDAQ:AAPL) is unlikely to buy ESPN, and that ESPN's outlook could worsen if its distribution agreement with Charter Communications (NASDAQ:CHTR) isn't renewed.

Portfolio Pulse from Shanthi Rexaline

September 05, 2023 | 6:09 am

ALB

LINRF

PMETF

Albemarle Corporation (ALB) has increased its bid to acquire all outstanding shares of Liontown Resources Ltd. (LINRF) for $4.32 billion. The previous offer, made in March, valued Liontown at $3.4 billion. The companies will now enter into a non-disclosure and exclusivity agreement. Albemarle also announced the closing of its C$109 million investment with Patriot Battery Metals Inc (PMETF).

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 3:01 pm

BCS

Barclays PLC is considering selling a stake in its UK merchants' payment processing unit, which could be worth at least $2.5 billion. The bank is seeking a partner to boost the business. The discussions are part of Barclays' review of its global payment activities. The company has not decided how significant a stake it might divest.

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 1:49 pm

META

A study by the European Union suggests that changes made by Elon Musk to X's (formerly Twitter) safety protocols are aiding the spread of Russian misinformation. The study indicates that the reach of Kremlin-backed accounts has increased in the first half of 2023 due to the changes. Prior to Musk's acquisition, Twitter had policies to label and reduce the visibility of Kremlin-associated accounts, which were discontinued after the restructuring. The study also mentions that X's actions would have violated the EU's Digital Services Act, which requires tech giants to address safety risks proactively.

Portfolio Pulse from Benzinga Neuro

September 04, 2023 | 9:48 am

DOGEUSD

Elon Musk's biography by Walter Isaacson reveals that Musk considered integrating Dogecoin (CRYPTO: DOGE) as a payment system for a blockchain-based social media platform. The idea was suggested by Musk's brother, Kimbal, after Musk's acquisition of Twitter. However, Musk believed that a blockchain-based social network would be too slow for Twitter's fast-paced postings. Sam Bankman-Fried, founder of FTX cryptocurrency exchange, showed interest in joining the deal but later decided against it due to Musk's unpredictable behavior.

Portfolio Pulse from Mehab Qureshi

September 04, 2023 | 4:40 am

ALB

Albemarle Corporation (NYSE:ALB) has confirmed a non-binding agreement to acquire Liontown Resources Limited for US$4.32 billion. The acquisition is subject to several conditions including due diligence, regulatory approvals, and shareholder approval.

Portfolio Pulse from Charles Gross

September 04, 2023 | 12:58 am