Streetbeat News

Acquisitions Mergers

SLF

Sun Life Financial Inc. (SLF) has announced plans to acquire Dialogue, a telemedicine provider, for $5.15 per share, representing a total deal value of $365 million.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 12:33 pm

AULT

GRRR

PACW

Banc of California and PacWest are set to merge in an all-stock transaction, with PacWest shareholders receiving 0.6569 shares of Banc of California per PacWest share. Ault Alliance reports preliminary Q2 2023 revenue of $47 million, a 172% increase from Q2 2022 and a 52% increase from Q1 2023. Cantor Fitzgerald initiates coverage on Gorilla Tech Gr with an overweight rating and a price target of $4.8.

Portfolio Pulse from ryanfaloona@benzinga.com

July 26, 2023 | 12:31 pm

BABA

META

Alibaba Group's fintech affiliate, Ant Group, is undergoing a restructuring to focus on its core China financial-related business. The restructuring will see Ant Group eliminate its blockchain, database management services, and international business. Once the restructuring is complete, Ant Group will apply for a financial holding license in China and prepare for an IPO in Hong Kong. Alibaba's cloud computing division has also become the first Chinese enterprise to support MetaPlatforms Inc's open-source AI model Llama.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 12:25 pm

BANC

MSFT

PACW

PacWest Bancorp's shares surged by 35.6% after announcing a merger with Banc of California and reporting upbeat quarterly earnings. Other companies such as Warrantee Inc., AERWINS Technologies Inc., Banc of California, Inc., DISH Network Corporation, Golden Heaven Group Holdings Ltd., AIM ImmunoTech Inc., Tenable Holdings, Inc., AgileThought, Inc., and Alphabet Inc. also saw pre-market gains. On the other hand, Dunxin Financial Holdings Limited, Snap Inc., Aurora Acquisition Corp., AppHarvest, Inc., Yoshiharu Global Co., BioSig Technologies, Inc., Onfolio Holdings, Inc., Bellerophon Therapeutics, Inc., Tupperware Brands Corporation, and Microsoft Corporation experienced pre-market losses.

Portfolio Pulse from Lisa Levin

July 26, 2023 | 12:09 pm

INTC

TSEM

Tower Semiconductor Ltd reported mixed Q2 results, following which its shares traded higher. The company is also a potential acquisition target for Intel Corp.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:24 am

UPTD

Tradeup Acquisition Corp has entered into a binding term sheet with Suma Ventures, Estrella Biopharma, and Eureka Therapeutics for proposed deals as part of a merger plan between Tradeup, Estrella, and Tradeup Merger Sub.

Portfolio Pulse from Charles Gross

July 26, 2023 | 11:09 am

KKR

Private equity firm H.I.G. Capital is set to acquire audiobook publisher RBmedia from KKR. The terms of the deal were not disclosed. Upon closing, all RBmedia employees will receive a cash payout based on their tenure, with long-term employees earning up to two times their annual salary. The transaction is expected to close by Q4 2023, subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 11:08 am

TFX

Teleflex (TFX) has agreed to acquire privately-held Palette Life Sciences for an upfront cash payment of $600M and up to an additional $50M upon the achievement of certain commercial milestones.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 10:32 am

MXL

Maxlinear's shares are trading lower following a report suggesting China's approval of the company's merger with Silicon Motion.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 10:21 am

SIMO

Silicon Motion Technology's shares are trading higher following a report suggesting China's approval of the company's merger with Maxlinear.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 10:20 am