Streetbeat News

Acquisitions Mergers

BKI

CNSWF

ICE

Intercontinental Exchange Inc (ICE) and Black Knight Inc (BKI) have agreed to sell Black Knight's Optimal Blue business to a subsidiary of Constellation Software Inc (CNSWF) for $700 million. This is part of efforts to secure regulatory clearance for ICE's proposed acquisition of Black Knight. The divestiture transaction is subject to the closing of ICE's acquisition of Black Knight. ICE shares are trading lower by 1.11% at $116.26 and BKI higher by 14.09% at $69.89.

Portfolio Pulse from Akanksha Bakshi

July 17, 2023 | 2:19 pm

CVX

ENOG.L

BP and Azerbaijan's national oil company Socar have jointly placed a bid with Israel's NewMed Energy for two offshore gas exploration blocks in Israel. This follows their offer to jointly acquire 50% of NewMed for around $2 billion, potentially giving them entry to Israel's growing energy sector. The bid was for blocks near the Leviathan and Tamar fields, operated by Chevron. Other companies, including Energean and Ratio Energies, also placed bids in the licensing rounds.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 2:16 pm

AAL

ABOS

AMAT

BABA

BLK

MLTX

MSFT

RKLB

SPCE

UAL

Several companies have made significant announcements. Advanced Micro-Fabrication Equipment Inc and Naura Technology Group Co expect a doubling in profits due to the U.S. tech embargo. BlackRock Inc plans to expand its Voting Choice program to its largest ETF. Alibaba Group Holding Limited's stock is trading lower as China's Q2 GDP missed estimates. Ford Motor Co announced price cuts for its F-150 Lightning truck. Virgin Galactic Holdings Inc announced the crew of its seventh spaceflight. Rocket Lab USA Inc is preparing to launch a mix of satellites for NASA and commercial satellite constellation operators. Acumen Pharmaceuticals Inc's experimental Alzheimer's drug passed early safety tests. Sony Group Corp and Microsoft Corporation have reportedly reached a 10-year agreement to keep 'Call of Duty' games on PlayStation consoles. Proximus SA is acquiring a 58% stake in Route Mobile. Entain PLC plans to acquire Angstrom Sports. Hennes & Mauritz AB is launching its stores in Brazil. American Airlines Group Inc and JetBlue Airways Corp have initiated the process of dissolving the Northeast Alliance. United Airlines Holdings Inc and its pilots have reached a labor agreement with a substantial pay raise. MoonLake Immunotherapeutics is reportedly looking for a potential sale. Toshiba Corp plans to establish a supply chain for offshore wind power equipment in Japan with General Electric Company.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 2:13 pm

NNDM

SSYS

Nano Dimension Ltd. (NNDM), a leading supplier of Additively Manufactured Electronics (AME) and 3D printers, which owns approximately 14.1% of Stratasys' (SSYS) outstanding ordinary shares, is encouraging Stratasys shareholders to replace their current board with Nano Dimension's director nominees. Nano Dimension criticizes the Stratasys board for neglecting its fiduciary duties, pursuing a dilutive transaction with Desktop Metal, and having a problematic track record. The new board proposed by Nano Dimension is expected to focus on enabling competing bids for Stratasys to maximize shareholder value.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 2:10 pm

ZIMV

ZimVie is reportedly seeing takeover interest and is working with an unknown investment bank to consider strategic alternatives following inbound acquisition approaches. The news is being circulated by Deal Reporter.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:58 pm

ATVI

MSFT

Microsoft Corp. and the UK's Competition and Markets Authority (CMA) have requested a court pause to consider modifications to the proposed $69 billion acquisition of Activision Blizzard Inc. The CMA has agreed to give Microsoft a second chance to adjust the deal to address competition concerns.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:53 pm

GLCNF

GLNCY

PLM

PolyMet Mining Corp (PLM) has agreed to sell its remaining 17.8% of shares to Glencore PLC (GLCNF, GLNCY) for $2.11 per share, a 167% premium over PLM's share price as of June 30, 2023. The deal is expected to close in late Q3 or early Q4. Following the transaction, Glencore will hold 100% of PolyMet shares.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 1:51 pm

CSE:GSL

ACT Laboratories, Inc. has completed the acquisition of the Florida lab operations and related assets from Green Scientific Labs Holdings Inc. (CSE:GSL). This expansion puts ACT LAB on track to be operational in eight states in the eastern U.S. by year end. The company also confirmed that Rafael Bombonato, former chief compliance officer and interim CEO of Green Scientific, will become vice president of quality for ACT LAB.

Portfolio Pulse from Vuk Zdinjak

July 17, 2023 | 1:43 pm

PRDS

MediPacific has agreed to acquire Pardes Biosciences Inc (NASDAQ:PRDS) for $2.02 to $2.19 per share in cash, along with contingent value rights associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. The acquisition is expected to close in the third quarter.

Portfolio Pulse from Adam Eckert

July 17, 2023 | 1:25 pm

INFI

MEIP

MEI Pharma, Inc. (NASDAQ:MEIP) has encouraged its shareholders to vote in favor of the pending transaction with Infinity Pharmaceuticals, Inc. (NASDAQ:INFI). The transaction aims to create a combined company with a diversified pipeline of three clinical-stage development programs. Proxy advisory firms ISS and Glass Lewis have recommended shareholders to vote for the transaction.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:19 pm