Streetbeat News

Acquisitions Mergers

MMC

Marsh & McLennan Companies Inc (NYSE:MMC) has announced the acquisition of Honan Insurance Group Pty Ltd, a specialist insurance broker operating in Australia, New Zealand, and Asia. The deal, expected to complete in 2023, will enhance MMC's corporate risk and strata insurance offerings in Australia and New Zealand. The financial details of the transaction were not disclosed.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 9:47 am

DD

DuPont de Nemours Inc is reportedly in advanced talks with The Jordan Company to sell its Delrin resins unit for around $1.8 billion. The deal aligns with DuPont's focus on electronics, automotive, and water and industrial technologies industries. No final decision has been made and talks could still fall apart. DuPont recently reported a Q2 FY23 sales decrease of 7% Y/Y to $3.09 billion, beating the consensus of $3.00 billion.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 9:27 am

DD

DuPont is reportedly in talks to sell its Delrin unit to private equity firm The Jordan Company for $1.8 billion, according to Bloomberg.

Portfolio Pulse from Charles Gross

August 21, 2023 | 9:12 am

SCU

An investment group including Boaz Weinstein and Bill Ackman has reportedly bid more than $12 per share for Sculptor Capital Management, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

August 21, 2023 | 8:52 am

SCU

Boaz Weinstein, William Ackman, and Marc Lasry have made a $12/share offer for Sculptor Capital Management (SCU). The company has stated that the bidder has not demonstrated adequate committed funding for any of its bids and that the proposal only includes committed financing for less than half of the required amount.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 5:15 am

SSNC

SS&C Technologies has expanded its operations in Australia through the acquisition of Iress' Managed Funds Administration Business. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 4:43 am

MMC

Marsh McLennan has acquired Honan Insurance Group. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 4:39 am

CLF

KVUE

PANW

TSLA

X

XPEV

Barron's weekend stock picks include Tesla, XPeng, and U.S. Steel. Tesla's stock fell due to China Evergrande Group's bankruptcy and Elon Musk's stance on price cuts. Palo Alto Networks' stock rose after exceeding revenue estimates. XPeng's stock fell despite beating Q2 earnings estimates, likely due to China Evergrande Group's bankruptcy. Kenvue is facing lawsuits over its painkiller, Tylenol. U.S. Steel is in the midst of an acquisition battle, with the United Steelworkers supporting a bid by Cleveland-Cliffs.

Portfolio Pulse from Justin Chan

August 19, 2023 | 6:47 pm

UPTD

TradeUP Acquisition Corp. (NASDAQ:UPTD) has extended the deadline for its initial business combination from August 19, 2023, to September 19, 2023. The company has deposited $37,432.70 into its trust account, representing $0.05 per remaining share of the company. The payment was made by Estrella Biopharma, Inc., pursuant to a merger agreement.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:35 pm

PNM

Public Service Company of New Mexico (PNM), a subsidiary of PNM Resources, Inc. (NYSE:PNM), has reached a unanimous agreement with multiple parties to resolve the remaining steps of the San Juan coal plant retirement. The agreement includes $115 million in rate credits for customers over a year and protection from rising interest rates if the weighted-average rate on the securitization bonds exceeds 5.5%. The settlement is subject to approval by the New Mexico Public Regulation Commission.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:16 pm