Streetbeat News

Acquisitions Mergers

RETA

Reata Pharmaceuticals Inc. has reportedly attracted takeover interest from at least two big pharmaceutical companies, according to rumors circulated by Betaville.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:41 pm

NDLS

Traders are speculating that Noodles & Company (NDLS) may be a target for a buyout at a significant premium. The company is also seen as a potential target for a private equity activist campaign.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:39 pm

META

MSFT

TWTR

Elon Musk's rebranding of Twitter to 'X' could face legal challenges due to existing trademarks held by other companies, including Meta Platforms and Microsoft. Trademark attorney Josh Gerben estimates that the company could spend over $100 million in legal fees and settlement costs. Meta Platforms and Microsoft Corporation are among the companies that have intellectual property rights over the letter X. The X stock symbol belongs to United States Steel Corporation.

Portfolio Pulse from Chris Katje

July 27, 2023 | 12:58 pm

SHMP

NaturalShrimp Incorporated (OTCQB:SHMP) has terminated its merger agreement with Yotta Acquisition Corporation due to Yotta's inability to meet certain financial conditions. NaturalShrimp is now in negotiations with another entity for a business combination merger and uplist, involving a Re-IPO and a new capital raise of between $10-$12M. The company plans to uplist by the end of September or beginning of October.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 12:41 pm

MXL

SIMO

Silicon Motion has rejected MaxLinear's allegations and intends to enforce the merger agreement. This comes after MaxLinear's purported termination of the merger agreement with Silicon Motion, which Silicon Motion claims is invalid and a repudiation of MaxLinear's obligations.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:32 pm

CAN

SDIG

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) has purchased 2,000 new A1346 Bitcoin miners from Canaan Inc. (NASDAQ:CAN) for a total price of $3 million. The miners are expected to be delivered in Q3 2023 for use at Stronghold's Panther Creek Facility. Stronghold has also expanded its existing hosting agreement with Cantaloupe Digital LLC, a subsidiary of Canaan, with the addition of 2,000 A1346 miners.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 12:15 pm

OMC

Omnicom Media Group, a division of Omnicom (NYSE:OMC), has acquired Brazilian agencies Outpromo and Global Shopper. The acquisitions will help Omnicom establish a dedicated e-commerce and retail media performance agency in Brazil. Outpromo and Global Shopper offer services in retail e-marketing, e-commerce, social commerce, and retail media. The acquisition is expected to close in the third quarter, subject to regulatory approval.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 12:12 pm

FRLA

OTHER

Fortune Rise Acquisition Corporation (FRLA) has hired Richard A. Brand as Principal Executive Officer and Chief Financial Officer. The company has also engaged Nelson Mullins Riley & Scarborough LLP to advise on its proposed business combination with Water on Demand, Inc. (WOD), a subsidiary of OriginClear, Inc. (OTHER).

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 12:09 pm

AGLE

Aeglea BioTherapeutics has agreed to sell the global rights to Pegzilarginase, a treatment for the rare metabolic disease Arginase 1 Deficiency, to Immedica Pharma for $15M upfront and up to $100M in contingent milestone payments. This sale supersedes the previous license agreement between Aeglea and Immedica.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:18 am

ALTR

Altair has acquired OmniV, a technology from XLDyn, a product development software company based in southeast Michigan. The technology will be integrated into Altair's digital twin solution set and will be accessible via Altair One, Altair's cloud innovation gateway.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:14 am