Streetbeat News

Acquisitions Mergers

RTX

SAFRY

Safran has acquired Collins Aerospace's Actuation and Flight Control business, a subsidiary of RTX, for $1.8 billion.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 7:43 am

JNJ

KVUE

Johnson & Johnson (JNJ) shareholders will soon be able to exchange their shares for those of Kenvue Inc. (KVUE), a consumer health company that spun off from J&J two months ago. J&J, which owns nearly 90% of Kenvue shares, plans to reduce its stake through an exchange offer. The split-off process will allow J&J shareholders to exchange all or a portion of their shares for Kenvue’s common stock.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 5:54 am

ATVI

MSFT

The U.S. Federal Trade Commission (FTC) has agreed to pause its trial against the $69 billion acquisition of Activision Blizzard Inc. by Microsoft Corp. This decision marks a significant victory for both companies as they strive to finalize the largest-ever gaming deal amidst regulatory hurdles in the U.S. and the U.K. The companies can now attempt to convince the FTC’s commissioners to accept a settlement or drop their opposition to the deal.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 2:26 am

DWAC

Three individuals accused of insider trading prior to the proposed merger of Digital World Acquisition Corp (DWAC) with Trump Media & Technology Group pleaded not guilty. The accused allegedly traded illegally in DWAC before the merger announcement, which led to a quadrupling of DWAC's share price. The trial is scheduled for March 18, 2024. The proposed merger has seen several delays and if it closes, Trump Media would gain access to more than $1 billion in cash from DWAC’s institutional investors.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 12:34 am

EVTC

Evertec, Inc. (NYSE:EVTC) has announced a definitive agreement to acquire Sinqia, a leading player in the software for financial services market in Brazil. The acquisition price is R$27.19 per share, with a potential increase of up to R$1.00 per share depending on the timing of the closing.

Portfolio Pulse from Charles Gross

July 21, 2023 | 12:05 am

DWAC

The merger between Donald Trump’s Trump Media & Technology Group and Digital World Acquisition Corporation (DWAC) has faced several delays. The U.S. Securities and Exchange Commission (SEC) has settled fraud charges against DWAC for misleading investors by failing to disclose prior discussions to acquire the Trump-led media company. The SEC and DWAC agreed on an $18 million penalty if the merger closes and a cease-and-desist order. DWAC shares are up 27.02% to $16.91 in after-hours trading.

Portfolio Pulse from Chris Katje

July 20, 2023 | 9:58 pm

DWAC

The Securities and Exchange Commission (SEC) has settled fraud charges against Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), for making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Group Corp. (TMTG). DWAC has agreed to a cease-and-desist order and to pay an $18 million penalty if it closes a merger transaction.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 9:08 pm

EVLO

Evelo Biosciences has ended its sublease agreement with Bio-Rad Laboratories. Evelo will make a termination payment of $523,556 and allow Bio-Rad to draw on a letter of credit for $850,000. There is also the potential for an additional payment of up to $2.5M.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 8:49 pm

GS

RITM

Rithm Capital Corp. (RITM) has acquired $1.4bn of prime unsecured consumer loans from The Goldman Sachs Group, Inc. (GS). The loans were originated and serviced by Goldman Sachs through the Marcus program. The acquisition allows Rithm Capital to add discounted, short duration and high yielding prime credit consumer assets.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:39 pm

MBSC

M3-Brigade Acquisition III Corp. (NYSE:MBSC) has announced its intention to extend the period to consummate its initial business combination by three months, from July 26, 2023, to October 26, 2023. This extension was approved by the company's board of directors upon the request of the company's sponsor, M3-Brigade Sponsor III LP. In connection with the extension, an additional $1,696,500 will be deposited into the company's trust account for the benefit of the company's public stockholders.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 8:34 pm