Streetbeat News

Acquisitions Mergers

VOD

Warburg Pincus is reportedly among the potential bidders for Vodafone's Spanish arm, which is valued at around $4 billion. The news comes as Vodafone Group Plc (VOD) is considering options for its Spanish business, including a potential sale.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:44 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) is selling its Colombian subsidiaries and assets to a private company for CA$800,000 ($605,000). The sale includes all of Flora's operations in Colombia and is expected to close by July 31, 2023. The company anticipates annual savings of $6.1 million from this and other strategic changes. Flora's 2023 revenue guidance, which included estimates relating to the Colombian assets, is being reevaluated. Matthew Cohen, general counsel, has resigned from the company.

Portfolio Pulse from Vuk Zdinjak

July 26, 2023 | 2:40 pm

VWAGY

XPEV

XPeng and Volkswagen have signed a technical collaboration agreement. Volkswagen will acquire 4.99% of XPeng's outstanding share capital for $700 million.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 2:39 pm

BYDDY

TSLA

VWAGY

XPEV

Volkswagen AG (OTC:VWAGY) is investing in Chinese EV manufacturer XPENG Inc (NYSE:XPEV), acquiring a 4.99% stake for roughly $700 million. The two companies will also collaborate on the development of two B-class battery electric vehicles for the Chinese market. This move aligns with Volkswagen's strategy to focus on EVs and battery technology, and puts them in direct competition with BYD Company ADR (OTC:BYDDY), and Tesla Inc (NASDAQ:TSLA).

Portfolio Pulse from AJ Fabino

July 26, 2023 | 2:35 pm

TFX

Teleflex Incorporated (NYSE:TFX) has agreed to acquire Palette Life Sciences AB for an upfront cash payment of $600 million, with an additional $50 million upon achieving certain commercial milestones. The acquisition, expected to complete in Q4 of 2023, will expand Teleflex's Interventional Urology portfolio. Palette Life Sciences is estimated to generate 2023 net sales of approximately $56 million. The transaction is expected to be dilutive to Teleflex's adjusted EPS in 2023 and 2024.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 1:45 pm

CRM

Private equity firm Haveli and growth equity firm General Atlantic are set to acquire software company Certinia for nearly $1 billion. Salesforce, which owns less than 10% of Certinia, will roll over its stake as part of the deal.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:33 pm

EBET

Esports Technologies Inc. (EBET) has initiated a review of strategic alternatives to enhance shareholder value. The options may include a sale of the company, a merger, or other business combination, among others.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 1:05 pm

FXI

VLKAF

XPEV

Volkswagen plans to invest approximately $700M in Xpeng and acquire a 4.99% stake through a capital increase. Additionally, Volkswagen, Audi, and their Chinese JV partner Saic have signed a memorandum to expand their existing cooperation and plan new models in a segment where Audi does not yet have a presence in China.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:02 pm

NNDM

SSYS

Nano Dimension has presented reasons to replace the board of Stratasys. The presentation outlines a value-driven path forward for the company.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 12:50 pm

INTC

TSEM

Tower Semiconductor Ltd (TSEM) reported a Q2 FY23 revenue decline of 16.2% YoY to $357.2 million, beating consensus estimates. Gross profit and operating profit also declined. The company, which is set to be acquired by Intel Corp (INTC), saw its shares rise by 11.70% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 12:43 pm