Streetbeat News

Acquisitions Mergers

HKD

AMTD World Media and Entertainment Group, along with L'Officiel Inc. SAS, announced the successful registration of the magazine 'L'OFFICIEL HONG KONG SAR' with the Hong Kong Government's Office For Film, Newspaper and Article Administration. This comes a year after AMTD's global acquisition of L'Officiel Inc. SAS, during which it secured governmental permits or completed acquisitions in South East Asia and the Greater Bay Area.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 12:32 pm

HEINY

Heineken NV has closed the sale of its Russian operations to Arnest Group, taking a non-cash exceptional loss of €300 million. The company sold the Russian business for €1 and transferred all remaining assets, including seven breweries. Heineken expects the deal to have a negligible impact on diluted EPS and no impact on the FY23 outlook. The company's H1 2023 revenue grew by 6.3% Y/Y to €17.44 billion, but EPS declined by 7.3% Y/Y to €2.04.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 12:14 pm

HUT

Hut 8 Mining Corp. (NASDAQ:HUT) is progressing towards a proposed all-stock merger with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (USBTC). The combined company will be named 'Hut 8 Corp.' and is expected to become a large scale, publicly traded Bitcoin miner with diversified revenue streams and industry leading ESG practices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 10:37 am

SHEL

Octopus Energy is reportedly in discussions to acquire Shell's household energy customer base, according to Sky News. The deal could significantly expand Octopus Energy's market share in the energy sector.

Portfolio Pulse from Charles Gross

August 25, 2023 | 10:28 am

MNK

Bracebridge Capital has reported a 15.3% stake in Mallinckrodt as of August 23. The firm has entered into a bilateral agreement with Mallinckrodt, obligating it to support the company's restructuring efforts.

Portfolio Pulse from Charles Gross

August 25, 2023 | 10:14 am

MLM

Martin Marietta (MLM) has sold certain West Coast cement operations to UNACEM for $317 million.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:51 am

KKR

Alternative investment firm PAG has acquired KKR's controlling interest in an undisclosed Australian venue. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:47 am

DWAC

Donald Trump has posted his first tweet on X, formerly known as Twitter, since his ban in 2021. The platform was acquired by Elon Musk and rebranded as X. Trump's tweet included a mugshot from his booking at Fulton County jail, related to felony charges linked to an alleged plan to overturn the presidential election results in Georgia. Trump also routinely posts on Truth Social, owned by Trump Media & Technology Group, which is set to merge with Digital World Acquisition Corp (NASDAQ:DWAC).

Portfolio Pulse from Ananya Gairola

August 25, 2023 | 2:14 am

BHRB

SMMF

Summit Financial Group (SMMF) shareholders will receive 0.5043 shares of Burke & Herbert Bank (BHRB) common stock as part of a merger. The merged entity will operate under the name 'Burke & Herbert Financial Services Corp.' and will trade under the BHRB ticker symbol on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:48 pm

BHRB

SMMF

Burke & Herbert Financial Services and Summit Financial Group have announced a merger of equals. The deal is valued at approximately $371.5 million or $25.20 per share of Summit common stock.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:46 pm