Streetbeat News

Acquisitions Mergers

GRI

GRI Bio has entered into an asset purchase agreement with Aardvark Therapeutics for the sale of its legacy asset, ADAIR, for approximately $80 million.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:06 pm

OTEX

OpenText (NASDAQ:OTEX) has announced the acquisition of KineMatik, a company that provides workflow automation, Document Change Control, Project Management and Electronic Lab Notebook (ELN) solutions. The acquisition will add automated Business Process and Project Management Solutions to the OpenText Content business. The financial terms of the deal were not disclosed.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 1:05 pm

OLN

Olin Corporation is set to acquire White Flyer Targets business, which includes five state-of-the-art manufacturing facilities. The acquisition is expected to be completed in Q4 and will be funded by Olin's cash on hand.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:03 pm

BCC

Boise Cascade Company (NYSE:BCC) has announced an agreement to purchase Brockway-Smith Company (BROSCO), a wholesale distributor specializing in doors and millwork, for $172 million. The acquisition includes two full-scale distribution centers and will be funded from Boise Cascade's existing cash balances. The transaction is expected to close in early Q4 2023, subject to customary closing conditions and antitrust approval.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 1:02 pm

ALEAF

RWBYF

The Ontario Superior Court of Justice has approved a stalking horse asset purchase and share subscription agreement where Red White & Bloom Brands Inc. (OTC:RWBYF) (CSE:RWB) would acquire certain assets from Aleafia Health Inc. (OTCPK:ALEAF) and subscribe for shares of certain subsidiaries of Aleafia Health. The agreement is part of Aleafia's proceedings under the Companies’ Creditors Arrangement Act. The deal is subject to certain conditions, including court approval, regulatory approvals, and the licenses being in good standing.

Portfolio Pulse from Vuk Zdinjak

August 23, 2023 | 12:57 pm

FORG

Forgerock (FORG) has proposed an all-cash transaction valued at approximately $2.3 billion. Upon completion, the company's stockholders will receive $23.25 in cash for each share of Class A and Class B common stock they own.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 12:49 pm

DM

SSYS

Stratasys Ltd. (NASDAQ:SSYS) has announced an Extraordinary General Meeting of Shareholders on September 28, 2023. The agenda includes approval of matters related to the merger with Desktop Metal, Inc., extension of the expiration date of Stratasys' existing shareholder rights plan, and an increase in the number of Stratasys ordinary shares available for issuance under Stratasys' 2022 Share Incentive Plan. The board unanimously recommends shareholders to vote 'FOR' each of the proposals.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 12:08 pm

VEXTF

Vext Science, Inc. (OTCQX:VEXTF) (CSE:VEXT) reported Q2 2023 revenue of $9.2 million, up 4.8% YoY and 0.8% QoQ. However, gross profit, gross margin, net income, and adjusted EBITDA all decreased significantly compared to Q2 2022. The company also announced the approval of the Ohio Department of Commerce for the ownership transfer of Appalachian Pharm Processing, LLC, as part of its acquisition of APP for approximately $12.5 million.

Portfolio Pulse from Vuk Zdinjak

August 23, 2023 | 12:00 pm

GS

SHEL

Shell is reportedly working with Goldman Sachs to explore the potential sale of its refinery and petrochemical plants in Singapore. The move is part of Shell's strategy to reduce its carbon emissions.

Portfolio Pulse from Charles Gross

August 23, 2023 | 11:49 am

GOOGL

SNAP

Snap Inc (SNAP) has appointed former Google executive Pulkit Trivedi as its new managing director for India, signaling its commitment to strengthening its foothold in the growing Indian market. Trivedi will oversee key teams, including those managing content and creator ecosystems. Snap has reported a user base of over 200 million monthly active users in India.

Portfolio Pulse from Arpit Nayak

August 23, 2023 | 11:30 am