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Acquisitions Mergers

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

ECGI

ECGI Holdings Inc. (OTCPK:ECGI) has expanded the distribution of its soon-to-be-acquired cannabis brand, 8-Bit Buds, from 20 to 65 stores since March, a 225% increase. The company is also preparing to launch a new pre-roll cannabis product line to leverage growth momentum. ECGI is in the process of acquiring Endless Consciousness, Inc., whose primary asset is the 8-bit branded cannabis products line.

Portfolio Pulse from Vuk Zdinjak

July 19, 2023 | 2:18 pm

AAPL

AMZN

CVNA

JNJ

MSFT

Microsoft and Activision Blizzard have extended their $69 billion takeover deal to October 18, with increased termination fees. Microsoft also announced Bing Chat Enterprise and Microsoft 365 Copilot pricing. Goldman Sachs' Q2 profits fell 60% due to tepid M&A activity. Carvana reported a Q2 sales decline of 23.6% but beat consensus estimates. General Motors anticipates increased EV production in H2. Johnson & Johnson has joined a legal battle against the US government over drug pricing negotiation. Spain has penalized Amazon and Apple for conspiring to limit competition in device sales.

Portfolio Pulse from Vandana Singh

July 19, 2023 | 2:10 pm

ATVI

MSFT

Activision Blizzard and Microsoft have received regulatory approvals in 40 countries for their merger deal. The companies are confident that the UK's Competition and Markets Authority (CMA) will also approve the deal. The boards of both companies have decided not to terminate the deal until after October 18.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 1:51 pm

HROW

Harrow Health has acquired US & Canadian rights to certain eye disease products and announced a $60 million equity offering. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 1:49 pm

ATVI

MSFT

NVDA

SONY

Microsoft and Activision Blizzard have extended their $69 billion takeover deal to October 18. The agreement includes an increase in the termination fee payable to Activision Blizzard and amendments to Activision Blizzard's commercial Xbox arrangements with Microsoft. The deal also allows Activision Blizzard to declare and pay one regular cash dividend for FY23. Activision reported Q2 revenue growth of 34.2% YoY to $2.21 billion, missing the consensus of $2.37 billion. Microsoft has also made deals with Nvidia and Sony to counter opposition against the merger.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 1:45 pm

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HITI

ITHUF

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SMG

UNRV

The article reports on recent leadership changes in the US cannabis industry. The Cannabis Regulators Association (CANNRA) has announced new leadership and expanded membership. Maryland Governor Wes Moore has made key appointments to two new cannabis-related agencies. Minnesota is preparing for marijuana legalization with the appointment of a new director for its regulatory agency. The Arkansas Medical Marijuana Commission has a new member. There have been board changes at Decibel Cannabis Company, High Tide Inc., Cresco Labs, Glass House Brands, and Craftport Cannabis Corp. Scotts Miracle-Gro Company has appointed a new board member. Unrivaled Brands, iAnthus Capital Holdings, PharmaCielo, and MedMen Enterprises have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 19, 2023 | 1:29 pm