Streetbeat News

Acquisitions Mergers

NUS

Nu Skin's Rhyz Inc. has acquired skincare and beauty device company BeautyBio. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:32 am

OSTK

Overstock.com has relaunched Bed Bath & Beyond after acquiring some of its assets a few months ago. The newly-relaunched Bed Bath & Beyond website is offering enticing deals to attract new customers. Overstock's CEO, Jonathan Johnson, hinted that the Overstock name and ticker, $OSTK, may not be a fit anymore, but he is unsure if he wants to bring back Bed Bath & Beyond’s $BBBY ticker.

Portfolio Pulse from Aaron Bry

August 04, 2023 | 10:22 am

MANU

Manchester United Ltd (NYSE:MANU) shares fell following reports that the sale process has been paused for at least one of the two main bidders. The two main bidders were Qatar's Sheikh Jassim and British billionaire Jim Ratcliffe. In June, Sheikh Jassim reportedly submitted a final takeover offer of more than $6 billion. The Glazer family has been reviewing offers from multiple potential buyers for over eight months now.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 10:15 am

FBGRX

META

SNAP

TSLA

Fidelity has increased its valuation of X Holdings (formerly Twitter) for two consecutive months, valuing the company at $27 billion in June, up from $15 billion in May. This comes after Elon Musk's acquisition of Twitter for $44 billion, funded in part by selling Tesla shares. Fidelity holds a stake in X Holdings through its Blue Chip Growth Fund (FBGRX). Other investors, including Ark Funds, have also increased their valuations of X Holdings.

Portfolio Pulse from Chris Katje

August 04, 2023 | 10:14 am

REUN

Reunion Neuroscience (NASDAQ:REUN) and MPM BioImpact have completed their plan of arrangement for MPM’s acquisition of Reunion for approximately $13.1 million. Shareholders approved the transaction and all holders of Reunion’s outstanding common shares are entitled to receive $1.12 in cash for each share held. Reunion’s shares are to be delisted from the Toronto Stock Exchange and the NASDAQ. The company is also applying to cease to be a reporting issuer under applicable Canadian securities laws.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 10:14 am

MRVI

TECH

Bio-Techne Corporation (TECH) is reportedly exploring a takeover of Maravai LifeSciences (MRVI), according to a source cited by Street Insider.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:12 am

GOOGL

META

DoubleVerify Holdings, Inc (NYSE:DV) reported strong Q2 earnings and sales, beating consensus estimates. However, the stock traded lower due to concerns about future growth rates and the impact of MediaMath's bankruptcy. The company also announced the acquisition of Scibids Technology sas for $125 million. Analysts from KeyBanc, Stifel, Truist, JMP Securities, and RBC Capital maintained positive ratings on DoubleVerify, with price targets ranging from $43 to $48.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 10:05 am

MANU

The takeover process of Manchester United (MANU) has been effectively paused according to a tweet from a Manchester United reporter. This affects at least one of the two main bidders.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:05 am

ACI

COST

WMT

Costco Wholesale Corporation faces increased competition due to significant developments from Kroger, Walmart, and Aldi. Kroger plans to acquire Albertsons, potentially adding 2,200 new stores to its portfolio, posing a competitive risk to Costco. Walmart has acquired Tiger Global's stake in Flipkart, valuing the Indian e-commerce platform at $35 billion, highlighting the competition risk for Costco in the e-commerce space. Aldi has launched a new product, garlic bread-flavored crisps, posing a potential competition risk to Costco.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 10:00 am

NEWR

TPG

New Relic Inc (NEWR) has been acquired by Francisco Partners and TPG Inc (TPG) in a deal valued at approximately $6.5 billion. Following the acquisition, several analysts have downgraded NEWR's rating from Outperform to Neutral and revised their price targets. NEWR shares are currently trading at $84.04, slightly higher by 0.07%.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 9:59 am