Streetbeat News

Acquisitions Mergers

AAPL

HNHPF

Foxconn Technology Group, a key supplier for Apple Inc, plans to invest over $1.2 billion in Karnataka, India, to establish two new component factories. This is in addition to a previously reported $700 million facility near Bengaluru's airport. One of the new factories will produce parts for Apple, including iPhones. This move reflects India's growing appeal as a manufacturing destination amid U.S.-China tensions. Apple's revenue in India grew by nearly 50% to ~$6 billion through March.

Portfolio Pulse from Anusuya Lahiri

August 01, 2023 | 1:00 pm

MIDD

Middleby Corporation has acquired Trade-Wind Manufacturing, a company with approximately $10M in annual revenues.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 12:42 pm

TGTX

TG Therapeutics and Neuraxpharm have announced a deal for the ex-US commercialization of Briumvi (Ublituximab) for relapsing multiple sclerosis. The deal is worth approximately $650M, including over $150M in upfront and near-term milestones.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 11:34 am

EQRX

RVMD

Revolution Medicines, Inc. (RVMD) has announced plans to acquire EQRx, Inc. (EQRX) in an all-stock transaction. The deal is expected to add more than $1 billion in net cash to Revolution Medicines' balance sheet. The number of shares to be issued to EQRx security holders will be determined close to the closing of the stockholder votes on the transaction. The transaction has been approved by the directors of both companies.

Portfolio Pulse from Charles Gross

August 01, 2023 | 11:33 am

CRGE

Charge Enterprises, Inc. (NASDAQ:CRGE) has acquired Greenspeed Energy Solutions, a provider of sustainable energy solutions, for up to $15 million. The acquisition includes $6 million in cash, $2 million of Charge common stock, and potential additional payments of up to $7 million contingent on EBITDA milestones. This move allows Charge to expand its capabilities and geographic footprint, and to serve its clients directly rather than through subcontractors.

Portfolio Pulse from Charles Gross

August 01, 2023 | 11:25 am

MATV

Mativ has announced a proposed sale of its Engineered Papers business for $620 million.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 11:17 am

GPK

Graphic Packaging Holding Company (GPK) has announced plans to acquire Bell Incorporated. The transaction is expected to add approximately $200M in sales to GPK's revenue.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 10:48 am

KEN

Kenon Holdings Ltd.'s subsidiary OPC Energy Ltd. has won a tender conducted by the Israel Land Authority to design renewable energy electricity generation facilities using photovoltaic technology. OPC has paid $26.1 million, constituting 20% of the total consideration for the lease rights. The project aims to generate electrical power utilizing photovoltaic technology with an estimated cumulative capacity of approximately 245 MW.

Portfolio Pulse from Charles Gross

August 01, 2023 | 10:22 am

PLTK

Playtika is set to acquire the Youda Games portfolio from Azerion for an initial cash consideration of EUR 81.3 million. The deal includes a performance-based earnout that could increase the total consideration to a maximum of EUR 150 million.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 5:55 am

QFTA

Quantum FinTech Acquisition Corporation (QFTA) has announced that it will transfer the listing of its common stock from the New York Stock Exchange to NYSE American on August 2, 2023. The company's stock has been approved for listing on NYSE American and will continue to trade under the same ticker symbol, QFTA. Quantum is also involved in a business combination agreement that will result in Atlas FinTech Holdings Corp. transferring its trading technology assets to AtlasClear and the acquisition of Wilson Davis & Co., Inc. by AtlasClear.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:21 pm