Streetbeat News

Acquisitions Mergers

AAPL

NVDA

SFTBY

Arm Holdings, a chip designer under SoftBank Group, is preparing for its IPO next week with a potential valuation of $50-$54 billion. The company's share price is expected to be between $47 and $51, which could result in an offering of $5-$5.4 billion. This valuation is lower than the $64 billion at which SoftBank recently acquired its 25% stake in the firm. Major companies including Apple, NVIDIA, Alphabet, AMD, Intel, Samsung, Cadence Design Systems, and Synopsys have shown interest in the IPO.

Portfolio Pulse from Bibhu Pattnaik

September 03, 2023 | 4:30 pm

AAPL

BRK-A

BRK-B

TSLA

Warren Buffett and Elon Musk share a business acumen of controlling critical access points. Buffett, chairman of Berkshire Hathaway, is drawn to steady income sources like toll roads, while Tesla CEO Musk focuses on managing bottlenecks. Buffett's investment in Apple, with its robust brand and control over the App Store, is an example of his strategy. Musk, on the other hand, has strengthened Tesla's competitive stance by investing in battery innovation to overcome limitations in electric vehicles.

Portfolio Pulse from Bibhu Pattnaik

September 03, 2023 | 3:18 pm

DWAC

The merger deadline between Digital World Acquisition Corp. (NASDAQ:DWAC) and Trump Media and Technology Group (TMTG), the parent company of social media platform Truth Social, is approaching. If the merger isn't sealed by Sept. 8, Digital World may dissolve. The merger could unlock $1 billion for Trump Media. The SEC imposed a penalty on Digital World in July, alleging it had hidden plans to acquire the Trump company.

Portfolio Pulse from Bibhu Pattnaik

September 03, 2023 | 1:05 pm

TSLA

Elon Musk, CEO of Tesla Inc. and SpaceX, was reportedly engrossed in a video game marathon after making a decision to acquire Twitter, now rebranded as X. The incident occurred in April 2022, and was shared by musician Grimes, Musk's former partner. Despite his responsibilities at multiple companies, including Neuralink, Musk's enthusiasm for gaming remains unchanged.

Portfolio Pulse from Bibhu Pattnaik

September 02, 2023 | 7:02 pm

TG

Tredegar Corporation (NYSE:TG) has agreed to sell its flexible packaging films business, Terphane, to Oben Group for $116 million. The transaction is expected to yield after-tax cash proceeds of $85 million for Tredegar. The deal is subject to customary conditions, including clearance by competition authorities in Brazil and Colombia.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:34 pm

ACAQ

Athena Consumer Acquisition Corp. (ACAQ) has announced special meetings for its stockholders and warrant holders on September 21, 2023, to approve the proposed business combination with Next.e.GO Mobile SE and the proposed warrant exchange. The closing of the business combination is subject to approval by ACAQ's stockholders and other customary closing conditions.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:33 pm

DHC

OPI

Diversified Healthcare Trust (DHC) and Office Properties Income Trust (OPI) have mutually agreed to terminate their previously announced merger agreement. Each company will bear its own costs and expenses related to the terminated transaction, and no termination fee will be paid by either party.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:19 pm

PNTG

The Pennant Group, Inc. (NASDAQ:PNTG) has announced the acquisition of Valor HospiceCare, a provider of skilled hospice services in Tucson, Green Valley, and Sierra Vista, Arizona. The financial terms of the deal were not disclosed. This acquisition expands Pennant's operations in Arizona and aligns with their strategy to acquire high quality home health, hospice, and senior living businesses throughout the United States.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 7:57 pm

AVGO

VMW

BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on Vmware, Inc. (VMW), raising the price target to $160 from $140. VMW reported a Q2 FY24 revenue increase of 2% Y/Y to $3.41 billion, missing the consensus of $3.46 billion. The analyst believes Broadcom Inc.'s (AVGO) acquisition makes sense for VMW shareholders. VMW shares are trading lower by 2.84% to $163.98.

Portfolio Pulse from Nabaparna Bhattacharya

September 01, 2023 | 6:35 pm

HT

Hersha Hospitality Trust (HT) has been downgraded to Neutral from Buy by B.Riley Securities analyst Bryan Maher, following the announcement of HT's acquisition by KSL Capital Partners for $10 per share. The all-cash transaction is valued at approximately $1.4 billion, representing a premium of approximately 60% over Hersha's closing share price on August 25, 2023. HT shares are currently trading higher by 0.31% at $9.85.

Portfolio Pulse from Lekha Gupta

September 01, 2023 | 6:02 pm