Streetbeat News

Acquisitions Mergers

X

US Steel's shares are trading higher following a report that ArcelorMittal is considering a bid for the company.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:41 pm

ACI

KR

Secretaries of State for seven U.S. states have written to FTC Chair Khan to express their opposition to Kroger's proposed $24.6B acquisition of Albertsons.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:38 pm

INTC

NVDA

TSEM

Semiconductor stocks are trading lower ahead of NVIDIA's quarterly results. Tower Semiconductor and Intel shares fell after their merger agreement was terminated due to lack of Chinese regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:36 pm

MT

X

ArcelorMittal SA is reportedly discussing a possible bid for U.S. Steel Corp with financial advisers, according to Reuters News.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:35 pm

PFE

SGEN

Seagen Inc announced that its Phase 3 HER2CLIMB-02 clinical trial of Tukysa in combination with Kadcyla met its primary endpoint of progression-free survival. Pfizer Inc has agreed to acquire Seagen in a $43 billion deal to gain access to its targeted cancer therapies. Seagen's shares are down 0.11% at $193.98.

Portfolio Pulse from Vandana Singh

August 16, 2023 | 4:32 pm

BUD

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading higher, with a nearly 60% increase over the last month. The company recently announced plans to acquire several brands from Anheuser-Busch Inbev (NYSE:BUD), a transaction expected to close in 2023. TLRY shares are moving higher on above-average trading volume, with short sellers showing interest.

Portfolio Pulse from Erica Kollmann

August 16, 2023 | 4:26 pm

GM

General Motors (GM) has led a $40 million first close of a $60 million Series B funding round in Mitra Chem, an AI-enabled battery materials innovator. The investment will help Mitra Chem scale its R&D and pilot operations, and accelerate GM's commercialization of affordable electric vehicle batteries. GM and Mitra Chem will develop advanced iron-based cathode active materials to power affordable and accessible EV batteries compatible with GM's EV propulsion architecture, the Ultium Platform.

Portfolio Pulse from Nabaparna Bhattacharya

August 16, 2023 | 4:23 pm

INTC

Intel and Tower Semiconductor have terminated their pending merger agreement, leading to a drop in Intel's share price.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:23 pm

CEQP

ET

Energy Transfer (NYSE:ET) has announced a merger with Crestwood Equity Partners (NYSE:CEQP) expected to be completed in Q4 of 2023. Energy Transfer will give Crestwood Equity Partners $7.10 billion in stock in exchange for CEQP stock.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 3:10 pm

AEP

BX

Invenergy has acquired American Electric Power Co. Inc.'s (NASDAQ:AEP) 1,365-megawatt (MW) unregulated, contracted renewables portfolio for $1.5 billion. The assets were bought through IRG Acquisition Holdings (IRGAH), a collaboration between Invenergy, CDPQ, and funds managed by Blackstone Infrastructure Partners of Blackstone Inc. (NYSE:BX). AEP is streamlining its portfolio through this divestiture and aims to focus on its regulated operations.

Portfolio Pulse from Lekha Gupta

August 16, 2023 | 3:08 pm