Streetbeat News

Acquisitions Mergers

BIIB

RETA

Biogen Inc. is reportedly considering a takeover of Reata Pharmaceuticals, a drugmaker valued at $4 billion, according to Bloomberg.

Portfolio Pulse from Charles Gross

July 28, 2023 | 11:05 am

CL

Colgate-Palmolive has updated its FY23 outlook, expecting net sales growth of 5% to 8%, including the benefit from acquisitions of pet food businesses and a low-single-digit negative impact from foreign exchange. The company also expects organic sales growth of 5% to 7%. On a GAAP basis, it expects gross profit margin expansion, increased advertising investment, and double-digit earnings-per-share growth. On a non-GAAP basis, it expects earnings-per-share growth to be at the high end of mid-single-digits.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 10:59 am

AZN

PFE

Alexion, a subsidiary of AstraZeneca, has agreed to purchase and license a portfolio of preclinical gene therapy programs from Pfizer for a total consideration of up to $1B, plus tiered royalties on sales.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 7:35 am

SNY

Sanofi has acquired Qunol, a US-based brand in the health and wellness sector. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 7:04 am

MITT

WMC

Western Asset Mortgage Capital Corporation's (WMC) board has determined that AG Mortgage Investment Trust's (MITT) proposal is superior to the Terra Property Trust merger agreement. Under MITT's proposal, each WMC common stock would be converted into 1.468 shares of MITT common stock and a cash payment from MITT's external manager. The manager would also waive $2.4 million of management fees in the first year post-closing.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:55 am

TSLA

Tesla Inc (NASDAQ:TSLA) is reportedly accelerating plans to establish a manufacturing base in India. Senior executives from Tesla met with Nivruti Rai, the CEO of Invest India, and further meetings with the nation's commerce and industry minister are planned. Tesla is exploring the possibility of setting up its auto parts and electronics chain in India, with possible incentives and tax breaks being part of the discussions. The company has faced challenges with the government’s stand against lowering import duties.

Portfolio Pulse from Arpit Nayak

July 28, 2023 | 5:35 am

YELL

Yellow Corp is considering selling its Third-Party Logistics organization, Yellow Logistics, Inc. The company is currently in discussions with several interested parties.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:00 pm

MITA

MITAU

MITAW

Coliseum Acquisition Corp. (NASDAQ:MITAU, MITA, MITAW) has announced a second extension of the deadline to complete its initial business combination to August 25, 2023. This is the second of twelve potential one-month extensions available to the company. Berto LLC, an affiliate of Harry L. You, deposited $100,000 into Coliseum's trust account in connection with this extension.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:11 pm

NEM

NG

NOVAGOLD has received $25M from Newmont as the third payment for the sale of its 50% interest in the Galore Creek Project. The total consideration payable by Newmont was up to $275 million.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:08 pm

DDD

DM

SSYS

3D Systems has announced a target date of August 4, 2023, for the completion of due diligence and merger agreement discussions with Stratasys. Upon conclusion, 3D Systems expects Stratasys to terminate their agreement with Desktop Metal, with 3D Systems paying the termination fee.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:05 pm