Streetbeat News

Acquisitions Mergers

THRN

Thorne Healthtech has entered into an agreement to be acquired by L Catterton for $10.20 per share in cash. This has resulted in a rise in Thorne Healthtech's share price.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:19 pm

ABCM

DHR

Danaher Corporation (DHR) has agreed to acquire Abcam plc (ABCM) for $24.00 per share in cash, a total enterprise value of ~$5.7 billion. Abcam will operate as a standalone company within Danaher's Life Sciences segment. The transaction is expected to close in mid-2024. Following the announcement, ABCM shares are trading lower by 4.37% at $22.34 premarket on Monday.

Portfolio Pulse from Akanksha Bakshi

August 28, 2023 | 1:18 pm

VHNAU

Vahanna Tech Edge Acquisition I Corporation has announced that its shareholders have approved the business combination with Roadzen. The announcement was made on August 25.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:10 pm

HZNP

The Federal Trade Commission (FTC) has paused its challenge against Amgen's proposed acquisition of Horizon Therapeutics, causing Horizon's shares to trade higher. The challenge is paused until September 18.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:10 pm

PAX

Patria Investments, along with a consortium including Saudi Arabia's sovereign wealth fund, has won the auction for the concession of the 'Paraná Lote 1' highway system in Brazil. This marks the first investment of Patria Infrastructure Fund V and expands Patria's presence in the toll roads segment. The project, awarded by Brazil's National Transportation Agency, involves 473 kilometers of federal and state roads and is expected to receive total investments of approximately US$ 1.6 billion over 30 years.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:04 pm

AMTD

HKD

AMTD Idea Group (NYSE:AMTD) has announced a $100 million investment into AMTD Digital Inc. (NYSE:HKD) through the purchase of Class B ordinary shares. The shares will be locked up for a period of 5 years, demonstrating AMTD Idea Group's long-term commitment to AMTD Digital's development. The boards of both companies have approved the transaction.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:00 pm

BV

URI

BrightView Holdings Inc (BV) has appointed Dale A. Asplund as the new CEO and received a $500 million strategic investment from One Rock Capital Partners. The investment will be used to reduce debt and fuel acquisitions. The company also reported Q3 FY23 revenue of $766 million, missing the consensus of $777.4 million, and adjusted EPS of $0.44, beating the consensus of $0.38.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 12:57 pm

AAPL

BYDDF

JBL

Jabil Inc has reached a preliminary deal with Chinese EV maker BYD Co., Ltd. for the sale of its Mobility business in a potential transaction worth $2.2 billion. The proceeds from this transaction will be used for share buybacks and further investment in various sectors. The deal could see BE further penetrating Apple Inc's casing supply with higher market share. Jabil's shares traded higher by 6.57% at $110.00 premarket on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 12:49 pm

HT

Hersha Hospitality Trust (NYSE:HT) announced a merger with KSL Capital Partners LLC, with KSL acquiring all outstanding common shares of Hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion. This represents a premium of approximately 60% over Hersha's closing share price on August 25, 2023. The transaction is expected to be completed in Q4 2023, after which Hersha's shares will no longer be listed on any public securities exchange.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 12:39 pm

SBET

SharpLink Gaming Ltd. (NASDAQ:SBET) CEO Rob Phythian issued a letter to shareholders outlining the company's growth strategies and key performance indicators. The company aims to have a profound impact on the U.S. sports betting industry by improving methods for reaching and converting sports fans into sports bettors. SharpLink has focused on acquiring an affiliate marketing company, completing a merger with SportsHub, and expanding its technology development team. The company's internal KPIs align with each component of its C4 solution: Connect, Collect, Convert, and Capitalize. SharpLink is licensed to operate in 24 U.S. states, the District of Columbia, Puerto Rico, and Ontario, Canada.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 12:38 pm