Streetbeat News

Acquisitions Mergers

REI

Ring Energy has announced an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV for $75 million in cash. This has led to an increase in Ring Energy's share price.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 5:01 pm

AVTA

Avantax is reportedly exploring a potential sale, which has led to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 4:41 pm

AVTA

Wealth-tech firm Avantax is reportedly exploring a potential sale, according to Bloomberg. No specific details about potential buyers or the estimated value of the deal have been disclosed.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 4:39 pm

RMTI

Rockwell Medical Inc (RMTI) has acquired the hemodialysis concentrates business from Evoqua Water Technologies. The deal includes $11 million upfront in cash and two milestone payments of $2.5 million each. The acquisition will expand Rockwell's footprint in the U.S. and increase its market share in the hemodialysis concentrates market. Following the acquisition, Rockwell has increased its FY23 revenue guidance to $82 million-$86 million. Despite the positive news, RMTI shares are trading lower.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 4:30 pm

AJRD

LHX

LMT

US Senator Elizabeth Warren and three other lawmakers have warned against the merger deal between L3Harris Technologies Inc (LHX) and Aerojet Rocketdyne Holdings, Inc. (AJRD), urging the Defense Department to thoroughly review the $4.7 billion deal. Lockheed Martin Corp's (LMT) COO, Frank St John, expressed concerns over access to rocket motors, fair pricing, and IP protections. The lawmakers also noted that Lockheed Martin, Raytheon, and Boeing are dependent on products that only Aerojet can produce.

Portfolio Pulse from Akanksha Bakshi

July 11, 2023 | 4:09 pm

AAPL

Tata Group is reportedly set to acquire an Apple Inc iPhone supplier factory in India from Wistron Corporation. The factory, valued at over $600 million, currently assembles the iPhone 14. Tata Group plans to uphold Wistron's commitments to deliver iPhones worth $1.8 billion by March 2024 and triple its workforce by next year. This could lead to more global firms manufacturing in India, reducing their dependence on China.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 11, 2023 | 4:05 pm

AVGO

VGK

VMW

The European Union is reportedly set to approve Broadcom's $69 billion acquisition of VMware, according to the Financial Times.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 3:52 pm

ATVI

MSFT

Activision Blizzard CEO Bobby Kotick has stated that the company's merger will benefit both consumers and workers. The statement comes amid the ongoing merger process with Microsoft.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 3:19 pm

ATVI

A US judge has denied the Federal Trade Commission's (FTC) request for a preliminary injunction to stop Activision Blizzard's deal with Microsoft. This news has led to a rise in Activision Blizzard's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 3:12 pm

DDD

OERLF

SSYS

3D Systems Corp (NYSE:DDD) has announced a partnership with OC Oerlikon Corp AG, Pfaffikon (OTC:OERLF) to boost scale metal additive manufacturing in high-criticality industries such as semiconductors and aerospace. As part of the deal, Oerlikon AM will acquire its fourth 3D Systems DMP Factory 500 system. Last month, 3D Systems offered an enhanced acquisition proposal to Stratasys Ltd. (NASDAQ:SSYS).

Portfolio Pulse from Lekha Gupta

July 11, 2023 | 3:04 pm