Streetbeat News

Acquisitions Mergers

BKI

ICE

Intercontinental Exchange (ICE), Black Knight (BKI), and the Federal Trade Commission (FTC) have agreed to dismiss the preliminary injunction proceeding in the United States District Court that was seeking to block the close of ICE's previously announced acquisition of Black Knight.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 11:32 am

UBS

Credit Suisse plans to cut 80% of its Hong Kong-based investment banking staff as part of its integration process with UBS Group AG. This will leave only about 20 bankers out of 100 in Hong Kong. UBS has disclosed a significant reduction in Credit Suisse's workforce, with more than half of the employees facing potential layoffs. UBS shares are trading higher by 0.09% at $21.90 pre-market on the last check Monday.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 11:20 am

IKNA

Ikena Oncology has completed the acquisition of Pionyr Immunotherapeutics in an all-stock transaction. The deal includes all of Pionyr's assets, including approximately $43 million in net cash, in exchange for shares of Ikena's stock. The transaction was approved by the boards of directors from both companies.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 11:10 am

CPB

Campbell Soup Company (CPB) has announced plans to acquire Sovos Brands for $23 per share in cash, representing a total enterprise value of approximately $2.7 billion. The company expects to realize annualized cost synergies of around $50 million over the next two years.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 11:04 am

TRHC

Private equity firm Nautic Partners is set to acquire Tabula Rasa HealthCare for $10.50 per share in cash. The transaction values Tabula Rasa at $570 million.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 11:02 am

FRGI

Fiesta Restaurant Group Inc (NASDAQ:FRGI), owner of the Pollo Tropical restaurant chain, is reportedly being acquired by Authentic Restaurant Brands, a business unit of investment firm Garnett Station Partners, for $225 million. The deal represents an 8% premium to Fiesta's closing share price of $7.86. Fiesta recently reported an 8.4% increase in FY22 revenue to $387.4 million, despite a $14.6 million loss due to rising commodity and labor expenses.

Portfolio Pulse from Shivani Kumaresan

August 07, 2023 | 10:20 am

RNECF

SQNS

Renesas Electronics plans to acquire Sequans Communications for approximately $249 million, including net debt. The transaction, which values Sequans at $3.03 per ADS, is expected to close by Q1 2024, subject to regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 7:24 am

FRGI

Authentic Restaurant Brands is set to acquire Fiesta Restaurant Group for $8.50 per share, as reported by the Wall Street Journal. The deal involves the Pollo Tropical restaurant chain.

Portfolio Pulse from Charles Gross

August 06, 2023 | 11:19 pm

AAPL

META

MSFT

This week in AI, Microsoft's investment in OpenAI led to the demise of Cortana, with the company pivoting to Bing Chat powered by OpenAI's ChatGPT. Meta Platforms unveiled a new AI tool, AudioCraft, that transforms text into music. Google's Assistant received an AI upgrade. Apple's CEO, Tim Cook, revealed the company's long-term investment in ChatGPT-like AI tech. Elon Musk's X.ai took over AI.com, marking a new chapter in the battle with OpenAI and the AI industry.

Portfolio Pulse from Benzinga Neuro

August 06, 2023 | 4:00 pm

ARKF

ARKK

ARKW

GOOGL

HOOD

Ark Invest, led by Cathie Wood, has purchased 933,663 shares of Robinhood Markets, Inc. (NASDAQ:HOOD) across its three funds, ARK Innovation ETF (NYSE:ARKK), Ark Fintech Innovation ETF (NYS: ARKF) and Ark Next Generation Internet ETF (NYSE:ARKW), totaling $10.66 million. This comes as Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) significantly reduced its stake in Robinhood.

Portfolio Pulse from Shanthi Rexaline

August 05, 2023 | 7:51 pm