Streetbeat News

Acquisitions Mergers

TPG

TPG Inc has agreed to acquire Nextech from Thomas H. Lee Partners for $1.4 billion. Nextech provides clinical and administrative healthcare technology solutions for specialty physician practices. The deal is expected to close in Q3 2023. This acquisition is part of TPG's focus on healthcare IT solutions. TPG's shares are trading higher by 0.45% at $31.09.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 4:21 pm

PBLA

Panbela Therapeutics Inc (NASDAQ:PBLA) has divested certain assets in its eflornithine pediatric neuroblastoma program to US WorldMeds 1 (USWM). Panbela is set to receive up to approximately $9.5 million in non-dilutive funding for the sale. Payments will be made upon USWM's successful completion of milestones related to eflornithine's clinical development, regulatory approval, and commercial sales. Following the news, PBLA shares rose by 24.90%.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 4:18 pm

HROW

NVS

Harrow Health Inc (HROW) has agreed to acquire the U.S. and Canadian commercial rights for Vevye, a drug for dry eye disease, from Novaliq GmbH. The company has also agreed to acquire certain U.S. and Canadian commercial rights for several branded products from Santen Pharmaceutical Co Ltd. In December last year, Harrow acquired exclusive U.S. commercial rights to five FDA-approved ophthalmic products from Novartis AG (NVS). Harrow raised $60 million via equity and expects Q2 2023 revenues in excess of $31.0 million. HROW shares are up 22.90%.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 4:16 pm

ATVI

MSFT

Twenty-two Republican members of the U.S. House of Representatives have written a letter urging the Federal Trade Commission (FTC) to abandon its antitrust case against Microsoft's potential acquisition of Activision Blizzard. The representatives argue that the FTC's actions are obstructing a deal that could expand consumer choices. Microsoft and Activision Blizzard have announced a revised agreement, extending the deadline for the acquisition until Oct. 18.

Portfolio Pulse from Franca Quarneti

July 19, 2023 | 3:20 pm

ATS

ATS Corp (NYSE:ATS) has acquired Ireland-based digitalization solutions provider, Odyssey Validation Consultants Limited. The acquisition will see Odyssey integrated into ATS' Process Automation (PA) Solutions business, enhancing its offerings in the life science industry. This follows ATS' recent acquisition of a Belgium-based provider of AI and machine learning tools for industrial production.

Portfolio Pulse from Lekha Gupta

July 19, 2023 | 3:19 pm

TPG

TPG, a global alternative asset management firm, is set to acquire Nextech, a leading provider of clinical and administrative healthcare technology solutions, from Thomas H. Lee Partners (THL) for $1.4 billion. The acquisition will be made through TPG Capital, TPG's U.S. and European late-stage private equity platform. The transaction is subject to regulatory review and is expected to close in the third quarter of 2023.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 2:59 pm

ATVI

MSFT

Activision CEO Bobby Kotick stated in a CNBC interview that he expects a reasonable resolution from the UK Competition and Markets Authority (CMA) regarding Microsoft's acquisition of Activision. He also mentioned that 98% of Activision's shareholders voted in favor of the transaction.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 2:50 pm

MANU

Sir Jim Ratcliffe is prepared for the potential sale of Manchester United to extend into the new season. The Glazers, who have owned the club for 18 years, started exploring strategic alternatives nine months ago. Ratcliffe is trying to buy a majority shareholding, potentially keeping one or more of the Glazers as minority owners.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 2:43 pm

MANU

Sheikh Jassim Bin Hamad Al-Thani has expressed frustration over the prolonged sale process of Manchester United FC, casting doubt on the Glazer family's intent to sell.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 2:42 pm

CVS

Shares of CVS Health Corp (NYSE:CVS) are trading higher by 2.43% to $74.06. This is in sympathy with Elevance Health, which reported better-than-expected Q2 financial results and raised guidance. Elevance Health's increase can be attributed to premium rate increases in the Health Benefits business, higher premium revenue from membership growth in Medicaid and Medicare, and the expansion of pharmacy product revenue through the acquisition of BioPlus in Q1 2023.

Portfolio Pulse from Henry Khederian

July 19, 2023 | 2:39 pm