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Acquisitions Mergers

ATVI

MSFT

SONY

Activision Blizzard's stock is trading higher after Microsoft and Sony reached an agreement to keep 'Call of Duty' games on PlayStation consoles. This follows Microsoft's planned acquisition of Activision for $68.7 billion. Microsoft has committed to addressing concerns of regulators, platform and game developers, and consumers, ensuring that 'Call of Duty' remains available on more platforms.

Portfolio Pulse from Adam Eckert

July 17, 2023 | 12:33 pm

FREE

Whole Earth Brands (NASDAQ:FREE) has announced an executive transition as part of its strategic review of alternatives, including a non-binding proposal from Sababa Holdings. The company's CEO, Michael Franklin, has been placed on leave, with Rajnish Ohri and Jeffrey Robinson appointed as interim co-CEOs. The board is considering various strategic alternatives, including maintaining the status quo as a standalone publicly-traded company.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:15 pm

TLGA

TLG Acquisition One Corp. (NYSE:TLGA) has announced that its registration statement for the business combination with Electriq Power, Inc. has been approved by the SEC. A special meeting of TLG's stockholders is scheduled for July 25, 2023, to approve the business combination. If approved, the combined entity will trade on the NYSE under the new ticker symbol 'ELIQ'.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:13 pm

JCI

Johnson Controls (NYSE:JCI) has acquired FM:Systems, a digital workplace management and IoT solutions provider, for $455 million, with additional payments subject to post-closing earnout milestones. The acquisition will expand Johnson Controls' OpenBlue digital buildings software portfolio and is expected to be accretive to the company's revenues and margins. FM:Systems has had double-digit revenue growth and a net revenue retention rate of over 110% since 2020.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:11 pm

NVS

Novartis has acquired DTx Pharma, a preclinical stage biotechnology company. The acquisition includes DTx Pharma's FALCON platform and its lead program, DTx-1252, a potential treatment for Charcot-Marie-Tooth Disease Type 1A (CMT1A). Novartis will make an upfront payment of $500M and additional payments of up to $500M upon completion of pre-specified milestones.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:10 pm

CUEN

CUENW

OLB

Cuentas, Inc. (NASDAQ:CUEN) (NASDAQ:CUENW) announced that OLB Group (NASDAQ:OLB) has acquired the remaining controlling interest of Cuentas SDI LLC. Cuentas will retain its 19.99% share in Cuentas SDI and will be providing additional services to the network, including the Company's new Cuentas Mobile Wireless Service. The companies plan to offer an increasing array of next-generation location-based physical and digital services to accelerate growth. The partnership aims to increase offerings to the underserved markets and expand across the nation.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:07 pm

AMG

Pathstone Family Office is set to acquire 100% of the outstanding equity interests in Veritable from Affiliated Managers Group, Inc. (AMG). The acquisition, which will bring in cash proceeds of approximately $294M for AMG, will add over $17 billion in assets across 200 clients to Pathstone's portfolio, increasing its Assets under Advisement & Administration to over $100B. The deal strengthens Pathstone's position as the largest independent Registered Investment Advisor focused on the ultra-high net worth segment.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:04 pm

CRSR

Corsair Gaming Inc. (CRSR) is set to acquire assets from Drop, a community-driven commerce platform. The terms of the deal were not disclosed. This acquisition is expected to further expand Corsair's peripherals business.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:04 pm

MIRM

TVTX

Mirum Pharmaceuticals has agreed to acquire Travere Therapeutics' bile acid product portfolio for $445 million. The deal includes all rights and assets related to Cholbam® and Chenodal®. Travere will receive $210 million upfront and up to $235 million in potential sales-based milestones. Mirum will fund the upfront payment through a concurrent private placement of $210 million. The acquisition expands Mirum's leadership in rare liver disease treatment and advances Travere's strategy to deliver new treatment standards from its pipeline of innovative medicines for rare diseases.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:01 pm

GMVHF

GMVHY

MGM

Entain PLC plans to acquire Angstrom Sports for a total consideration of £81 million plus contingent payments totaling a maximum of £122 million, payable over three years. The acquisition is expected to boost Entain's position in the U.S. sports betting market by enhancing its analytics, risk, and pricing capabilities. The deal is expected to close in Q3 2023. BetMGM, a joint venture owned by Entain and MGM Resorts International, will benefit from the acquisition.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 12:00 pm