Streetbeat News

Acquisitions Mergers

UBS

Saudi National Bank's plan to increase its stake in UBS Group's Credit Suisse from 9.88% to 40% has been halted by Swiss regulator FINMA. The reason for the rejection is not clear. Last month, UBS closed the acquisition of Credit Suisse.

Portfolio Pulse from Lekha Gupta

July 10, 2023 | 9:36 am

VERI

Veritone has sold its energy business to GridBeyond for an undisclosed sum. The details of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 6:28 am

HLCO

PLSH

Panacea Life Sciences Holdings (OTCQB:PLSH) is expanding its Health and Wellness division with new products and potential acquisitions. The Healing Company (OTCQB:HLCO) has uplisted from the OTC Pink Market to the OTCQB Venture Market and secured up to $7 million in new investment. The company aims to build a community of healing brands through acquisitions in the wellness, supplement and nutraceutical spaces. The new funding and successful uplisting brings hope to a potential NASDAQ listing within the next 12 months.

Portfolio Pulse from Lara Goldstein

July 08, 2023 | 7:14 pm

CG

TCEHY

Ant Group, backed by billionaire Jack Ma, plans to buy back up to 7.6% of its shares at a valuation of $78.5 billion, a 70% decline from its IPO valuation. The repurchased shares will be used for Ant's staff incentive program. The buyback offers an exit to investors impacted by the company's regulatory issues. Prominent U.S. investors include Silver Lake Management, Warburg Pincus, and Carlyle Group. Chinese regulators have fined Ant and Tencent Holdings over $1 billion amid a crackdown on tech giants.

Portfolio Pulse from Bibhu Pattnaik

July 08, 2023 | 3:05 pm

IMBI

iMedia Brands, Inc. (NASDAQ:IMBI) has entered into an asset and equity purchase agreement with an affiliate of RNN National Media Group to sell substantially all of its assets, including its ShopHQ Networks, 1-2-3.tv, iMDS, J.W. Hulme, and Christopher & Banks businesses for approximately $50 million.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:16 pm

BLNG

Belong Acquisition has announced that it will redeem public shares. The company's ticker symbol is BLNG.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 8:01 pm

BLL

Ball Corporation's shares are trading higher following a report that private equity firms are competing with defense companies to acquire the company's aerospace business.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 7:44 pm

BALL

BX

Blackstone Group Inc. (BX) and Veritas Capital Fund Management are reportedly competing against large defense companies to acquire the aerospace business of Ball Corporation (BALL). The news was reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 6:59 pm

ALPMY

GSK

MRK

PFE

Goldman Sachs research suggests the global pharmaceutical sector has approximately $700 billion available for M&A and investments. This comes as patents for some blockbuster drugs are nearing expiration. Recent examples include Astellas Pharma acquiring Iveric Bio, Pfizer proposing to acquire Seagen, GSK agreeing to acquire BELLUS Health, and Merck announcing to acquire Prometheus Biosciences. The healthcare sector had a challenging start to 2023 due to regulatory & growth concerns, macroeconomic rotations, and investor preference for large-cap technology stocks.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 5:18 pm