Streetbeat News

Acquisitions Mergers

NFPDF

NSFCF

Nissin Foods is diversifying its market presence by acquiring Australian frozen dumpling maker ABC Pastry for $23.3 million. This move aims to reduce reliance on China and Hong Kong, tapping into Australia's growing Asian population. Nissin's Hong Kong shares rose 2.24% following the announcement.

Portfolio Pulse from The Bamboo Works

September 30, 2024 | 4:15 pm

BKD

DHC

Diversified Healthcare Trust (NASDAQ:DHC) shares rose after announcing the sale of 18 senior living communities to Brookdale Senior Living Inc. (NYSE:BKD) for $135 million. The sale aims to optimize DHC's portfolio and reduce its debt.

Portfolio Pulse from Dylan Berman

September 30, 2024 | 4:10 pm

CVX

HES

XOM

The FTC has cleared Chevron's $53 billion merger with Hess, with a condition that Hess CEO John Hess will not join Chevron's board. Instead, he will serve as an advisor. The merger still requires resolution of arbitration regarding preemptive rights in a Guyana joint venture. Chevron will own a 30% stake in Guyana's oil production consortium, led by Exxon Mobil with a 45% stake.

Portfolio Pulse from Anusuya Lahiri

September 30, 2024 | 4:02 pm

FCX

Freeport-McMoRan is focusing on organic growth rather than mergers and acquisitions, aiming to increase copper production significantly by 2027. The company plans to expand its El Abra mine in Chile and navigate regulatory challenges in Indonesia.

Portfolio Pulse from Stjepan Kalinic

September 30, 2024 | 3:57 pm

LLY

NVO

RHHBY

Roche Holdings AG is accelerating the development of its obesity drug CT-388, aiming for over $3 billion in sales. The company is also cutting drug development costs and time, with plans to launch 20 transformative medicines by 2030. Roche is expanding its portfolio with a $850 million acquisition from Regor Pharmaceuticals.

Portfolio Pulse from Vandana Singh

September 30, 2024 | 3:39 pm

CVX

HES

The Federal Trade Commission (FTC) has approved Chevron's $53 billion acquisition of Hess Corporation. This decision allows Chevron to proceed with the acquisition, potentially impacting the oil and gas industry landscape.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 3:02 pm

CVX

HES

FTX has approved Chevron's $53 billion acquisition of Hess Corp, marking a significant move in the energy sector.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 2:40 pm

BWAY

BrainsWay Ltd. (NASDAQ:BWAY) shares rose after announcing a $20 million investment from Valor Equity Partners. The investment involves issuing 2,103,745 ADSs at a 20% premium. The funds will support strategic initiatives and expand access to Deep TMS technology.

Portfolio Pulse from Dylan Berman

September 30, 2024 | 2:39 pm

CVX

HES

The FTC has issued a consent order preventing John Hess, CEO of Hess Corporation, from joining Chevron's board following Chevron's acquisition of Hess. This move is part of regulatory measures to ensure fair competition.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 2:35 pm

TTEC

TTEC Holdings Inc shares surged by 30.9% after CEO Kenneth Tuchman proposed to take the company private at $6.85 per share, a 55% premium on the recent stock price. The Board has formed a Special Committee to review the proposal, which is contingent on financing and shareholder approval.

Portfolio Pulse from Henry Khederian

September 30, 2024 | 2:28 pm