Streetbeat News

Acquisitions Mergers

RSPI

RespireRx Pharmaceuticals Inc. (OTCPK:RSPI) has transferred its pharmaceutical cannabinoid program to ResolutionRx, a subsidiary of RespireRx. The transfer includes a license agreement for intellectual property and patent rights, and a sublicense agreement for rights to an exclusive license agreement with the University of Illinois. In return, ResolutionRx issued 25 million ordinary shares to RespireRx and paid $1. ResolutionRx also intends to issue series A preference shares, with an initial price established at 90% of a $25 million value. RespireRx shares were trading 16.66% higher at $0.0014 per share.

Portfolio Pulse from Vuk Zdinjak

August 09, 2023 | 3:12 pm

DBTX

REGN

Regeneron Pharmaceuticals (NASDAQ:REGN) has announced the acquisition of Decibel Therapeutics (NASDAQ:DBTX) for $213 million in cash, expected to be completed in Q3 of 2023. Regeneron is a healthcare company that develops products for various diseases, while Decibel is a clinical-stage biotech company focused on treatments for hearing and balance disorders.

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 3:10 pm

TLRY

Tilray Brands Inc (NASDAQ:TLRY) shares are trading lower by 5.4% to $2.86, potentially due to profit-taking after the company announced an agreement to acquire eight beer and beverage brands from Anheuser-Busch. The acquisition will make Tilray the 5th largest craft beer business in the U.S., up from 9th. The all-cash transaction is expected to close in 2023.

Portfolio Pulse from Henry Khederian

August 09, 2023 | 2:48 pm

AEL

BAM

BNRE

Brookfield Asset Management Ltd (BAM) reported Q2 2023 revenues of $985 million, missing the consensus of $1.10 billion. EPS of $0.28 also missed the consensus of $0.32. The company raised $17 billion in Q2 and committed to a $50 billion new investment year-to-date. In July, Brookfield Reinsurance Ltd (BNRE) agreed to acquire American Equity Investment Life Holding (AEL) for ~$4.3 billion. BAM shares are trading higher by 1.88% at $33.61.

Portfolio Pulse from Lekha Gupta

August 09, 2023 | 2:41 pm

CTG

Computer Task Group (CTG) announced that it will be acquired by Cegeka for $10.50 per share, leading to a rise in CTG's stock price.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 2:08 pm

PHX

WhiteHawk Energy has proposed a stock-for-stock transaction to combine with PHX Minerals, Inc. If the proposal is accepted, PHX stockholders would own approximately 61% of the pro forma equity of the newly-formed WhiteHawk Minerals Corporation and receive a one-time $0.20 per share cash dividend. The proposed combination would provide PHX stockholders with an ability to participate in enhanced scale and additional mineral and royalty assets in the core of the Haynesville Shale and Marcellus Shale. However, PHX's board of directors has shown unwillingness to engage in discussions regarding the proposed transaction.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:45 pm

DBTX

REGN

Regeneron has announced its plans to acquire Decibal Therapeutics, leading to a rise in Decibal's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:28 pm

ADBE

VGK

The European Union has extended the review of the Adobe/Figma deal by 10 working days, setting a new deadline of January 8, 2024. This follows the EU's decision to open an in-depth probe into the deal.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:27 pm

RENB

Renovaro Biosciences and AI-focused GEDi Cube have announced a binding, exclusive letter of intent to merge. This has led to an increase in Renovaro Biosciences' share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:26 pm

DBTX

REGN

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has agreed to acquire Decibel Therapeutics Inc (NASDAQ:DBTX) at $4.00 per share with an additional contingent value right of up to $3.50 per share in cash upon achievement of certain clinical development and regulatory milestones. The proposed acquisition values Decibel at a total equity value of approximately $109 million and approximately $213 million if the CVR milestones are achieved. DBTX shares are up 82.4% at $5.09 during the premarket session on the last check Wednesday.

Portfolio Pulse from Vandana Singh

August 09, 2023 | 1:24 pm