Streetbeat News

Acquisitions Mergers

CHNR

China Natural Resources Inc (NASDAQ:CHNR) has agreed to sell all outstanding shares of Precise Space-Time Technology Limited to Feishang Group Limited for approximately $13.2 million. This includes Precise Space-Time Technology's outstanding payable owed to the company. Precise Space-Time Technology owns a 51% equity interest in Shanghai Onway Environmental Co Ltd. The news has led to a surge in CHNR's stock price by 22.7%.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 3:57 pm

NEWR

New Relic, Inc. (NEWR) has agreed to be taken private by Francisco Partners and TPG for $87.00 per share in cash, a 17% premium to its July 28, 2023, closing price. The company also reported better-than-expected Q1 FY24 financial results, with revenues of $242.63 million and adjusted EPS of $0.43. The transaction is expected to close in late 2023 or early 2024.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 3:36 pm

CHNR

China Natural Resources (CHNR) has agreed to sell all outstanding shares of Precise Space-Time Technology to Feishang Group for approximately $13.2 million. This has led to a rise in CHNR's stock price.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 3:23 pm

NEWR

New Relic reported better-than-expected Q1 financial results and announced it will be acquired by Francisco Partners and TPG for $6.5 billion. This news has led to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 2:34 pm

SharkNinja, Inc. (NYSE:SN) has completed its separation from JS Global Lifestyle Company Limited and is now an independent public company trading on the New York Stock Exchange under the ticker symbol 'SN'. Shareholders who held JS Global ordinary shares on July 4, 2023, received a distribution of one SharkNinja ordinary share for every 25 ordinary shares of JS Global.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 2:22 pm

MCOM

Micromobility.com Inc. has submitted a non-binding bid to acquire VanMoof Amsterdam, an e-bike startup. The acquisition aligns with Micromobility's strategy to consolidate the micromobility market and diversify its portfolio. The company plans to leverage VanMoof's e-bike technology and subscription model to enhance its product offerings.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 2:18 pm

SXI

Standex International Corp (NYSE:SXI) has acquired South Dakota-based Minntronix for approximately $30 million in cash. The acquisition is expected to be accretive to Standex's earnings and achieve a double-digit return on invested capital. The move expands Standex's presence in fast-growing markets such as 5G, smart grid, and industrial automation.

Portfolio Pulse from Akanksha Bakshi

July 31, 2023 | 2:17 pm

QUOT

Steven R. Boal, a significant shareholder in Quotient Technology, has reported control of over 10% of the company's common stock. Boal intends to oppose the current terms of the deal with Neptune Retails.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 2:16 pm

BTGOF

DIS

GOOG

HEINY

HNHPF

JBHT

NVO

PCRFY

WMT

YELL

Several significant business events have occurred. Alphabet Inc's Google has had an investigation into alleged abuse of dominance closed by the Italian Competition Authority. Toyota Motor Corp is strengthening its local development of intelligence and electrification technology in China. J.B. Hunt Transport Services is buying 13 zero-emission trucks from Nikola Corp. BT Group PLC has appointed Allison Kirkby as CEO. Walt Disney Co has appointed former executives Kevin Mayer and Tom Staggs as advisors to CEO Bob Iger. Foxconn is expanding in India with a $195M investment. Novo Nordisk A/S's weight-loss drug Wegovy has hit the German market. Walmart Inc has bought out Tiger Global's stake in Flipkart for $1.4B. Yellow Corporation has ceased operations. Panasonic Holdings Corp and Heineken NV have released their earnings reports.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 2:14 pm

EVI

EVI Industries, Inc. (NYSE:EVI) has announced a definitive agreement to acquire ALVF, Inc. dba ALCO Washer Center, a distributor of commercial laundry products. The acquisition will expand EVI's customer base and distribution and service footprint in the northeast region of the United States. The transaction is expected to close upon the satisfaction of customary closing conditions.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 2:07 pm