Streetbeat News

Acquisitions Mergers

FL

Traders are circulating activist chatter from Gordon Haskett's Bilson that Czech billionaire Daniel Kretinsky and Vesa Equity Group could possibly look to buy Foot Locker.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 1:47 pm

BETR

Shares of digital mortgage lender Better Home & Finance plunged by approximately 85% to $2.60 as the company is set to debut on the Nasdaq with the ticker 'BETR' after a long-delayed SPAC merger with Aurora Acquisition.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 1:40 pm

CRKN

Crown Electrokinetics Corp. (NASDAQ:CRKN) has released a letter to its shareholders addressing concerns about the ongoing decline in the company's stock price. The company suspects unlawful trading practices and is taking steps to investigate. On the business front, Crown is acquiring new micro trenching equipment for its fiber optics division and has announced two new senior executives. The company also addressed the delay in its earnings due to the complexity of transactions executed in the second quarter as part of its NASDAQ compliance plan.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 1:31 pm

CLF

MT

X

Esmark has withdrawn its bid for the acquisition of United States Steel Corp (X) due to pressure from the company's workers union, which supports the bid from Cleveland-Cliffs Inc (CLF). Esmark had intended to offer $35 per share, matching CLF's offer. U.S. Steel has clarified that its labor agreement does not grant the union veto power over potential company sale decisions. ArcelorMittal SA (MT) is also rumored to be considering a bid for the acquisition.

Portfolio Pulse from Lekha Gupta

August 24, 2023 | 1:31 pm

HCCI

Heritage-Crystal Clean, Inc. (NASDAQ:HCCI) has announced the expiration of the 35-day 'go-shop' period, during which no competing acquisition proposals were received. The company is set to be acquired by an investment affiliate of J.F. Lehman & Company for $45.50 per share in cash, or approximately $1.2 billion. The transaction is expected to close in Q4 2023, subject to approval by Crystal Clean stockholders and the expiration of the HSR Antitrust Improvements Act waiting period. Post-acquisition, Crystal Clean will become a privately held company and its shares will no longer be listed on the Nasdaq Stock Exchange.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 12:37 pm

TMO

Thermo Fisher Scientific has announced the commercial launch of the EXENT Solution, a mass spectrometry system designed to transform diagnosis and assessment for patients with monoclonal gammopathies, including multiple myeloma. The system is now available in several European countries. The EXENT Solution was developed with Mayo Clinic intellectual property and is intended to aid diagnosis of monoclonal gammopathies and monitoring of multiple myeloma and Waldenström's macroglobulinemia patients. Earlier this year, Thermo Fisher Scientific completed the acquisition of The Binding Site, adding protein diagnostics solutions to its specialty diagnostics portfolio.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 12:19 pm

ET

FNKO

PI

Insiders at Impinj, Inc. (PI), Funko, Inc. (FNKO), and Energy Transfer LP (ET) have recently made notable purchases of their companies' stocks. Impinj's Director acquired shares worth $2.82 million following upbeat Q2 results. Funko's 10% owner bought shares worth $442,665 despite a Q2 earnings miss and weak guidance. Energy Transfer's EVP bought shares worth $130,000 after the company announced a merger agreement to acquire Crestwood Equity Partners.

Portfolio Pulse from Lisa Levin

August 24, 2023 | 11:20 am

BHC

Bausch + Lomb, a subsidiary of Bausch Health Companies Inc., has announced the expiration of the Hart-Scott-Rodino waiting period for the acquisition of Xiidra, a non-steroid eye drop for signs and symptoms of dry eye disease.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 11:14 am

BMA

Banco Macro S.A. (NYSE: BMA) has announced a stock purchase agreement with Itaú Unibanco Holding S.A. to acquire 100% of the capital stock and votes of Banco Itaú Argentina S.A., Itaú Asset Management S.A. and Itaú Valores S.A. The transaction is subject to approval by the Central Bank of Argentina.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 11:02 am

C

Citigroup Inc. has made a strategic investment in Rextie, a Peruvian fintech company. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 11:02 am