Streetbeat News

Acquisitions Mergers

GAIN

Gladstone Investment Corporation has announced its support for MSouth Equity Partners' acquisition of Fern Exposition Services. Fern Exposition Services will join forces with Nth Degree.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:53 pm

ATVI

MSFT

Activision Blizzard, Inc. (NASDAQ:ATVI) stock traded sharply higher after Microsoft Corp (NASDAQ:MSFT) won a court permit to proceed with its $69 billion acquisition of Activision. The decision means Microsoft could close its merger with Activision ahead of a July 18 deadline, except in the U.K., which vetoed the deal. Activision shares jumped 10% to close at $90.99 on Tuesday.

Portfolio Pulse from Lisa Levin

July 12, 2023 | 12:52 pm

TAC

TransAlta Corporation (NYSE:TAC) has agreed to acquire the remaining shares of TransAlta Renewables Inc for C$1.38 billion, with C$800 million to be paid in cash. The deal represents an 18.3% premium on TransAlta Renewables' closing price as of July 10, 2023. The combined company will have increased trading liquidity and access to more efficient capital. The acquisition is expected to be completed in Q4 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 12, 2023 | 12:48 pm

LMNL

Liminal BioSciences has entered into an arrangement agreement with Structured Alpha LP, where Liminal's minority shareholders will receive $8.50 in cash per share in a 'go private' transaction. This has led to a rise in Liminal's share price.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:33 pm

ILMN

The European Commission has fined Illumina Inc (NASDAQ:ILMN) and Grail Inc €432 million and €1,000, respectively, for implementing their proposed merger before approval, in breach of EU merger control rules. Illumina has already reserved $453 million for a possible maximum fine. The company may be commanded to divest the deal with Grail later this year. Illumina plans to appeal the fine. This case is the first where the commission used new powers to scrutinize takeovers of startups with little or no revenue.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 12:20 pm

AMEH

Apollo Medical Holdings (AMEH) has signed an agreement to acquire assets of Texas Independent Providers (TIP), marking its expansion into Texas. TIP provides primary care services to over 4,500 Medicare Advantage patients in Harris County. ApolloMed will use its value-based care management and operational platform to improve TIP's provider network. The transaction is expected to close in Q3 2023 and will be funded with cash on hand.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:11 pm

FDS

FactSet has acquired idaciti, Inc., a data analytics company. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:02 pm

ATVI

AVGO

MSFT

VMW

Vmware, Inc's stock is trading lower after Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. The Commission recognizes the importance of this combination in enabling enterprises to accelerate growth in the multi-cloud ecosystem. Broadcom has also won legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan for the $61 billion deal. On Tuesday, Microsoft Corp won a court permit to move forward with its $69 billion deal to buy Activision Blizzard, Inc.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 11:55 am

ATVI

MSFT

The UK Competition and Markets Authority (CMA) has commented on the Microsoft-Activision deal, stating that while the merging parties cannot propose new remedies after a final report, they can choose to restructure the deal, potentially leading to a new merger investigation.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:53 am

BAC

BRK.A

DAI.DE

TSLA

Investor optimism is improving ahead of inflation data. WhatsApp's latest update for iOS makes it easier to use the app on other devices. Berkshire Hathaway is set for a $1B windfall following the Microsoft-Activision deal. Tesla warns that Model 3 tax credit might be reduced after the end of the year. Regulators have fined Merrill Lynch $12M for anti-money-laundering failures. Mercedes-Benz reports a 123% surge in Q2 EV sales on spectacular US demand.

Portfolio Pulse from Akanksha Bakshi

July 12, 2023 | 11:40 am