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Acquisitions Mergers

GSK

TEVA

Teva Pharmaceutical Industries Ltd is considering strategic options for its active pharmaceutical ingredients (API) unit, which could include a potential sale. The API unit could be valued at approximately $2 billion. The company has been struggling with substantial debt and poor share price performance. In May, the U.S. Supreme Court turned away hearing Teva's challenge to a $235 million award to GSK plc in a patent dispute.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 7:38 pm

FIS

Private equity groups are considering purchasing a majority stake in Worldpay from Fidelity National Information Services Inc (FIS) at a valuation exceeding $15 billion. Truist analyst Andrew W. Jeffrey reiterated a Hold rating on FIS with a price target of $60.00, recommending investors to focus on Legacy processors. Morgan Stanley analyst James Faucette had an Overweight rating on the stock with a price target of $79, seeing the stock as undervalued with a long-term opportunity for accelerated growth. Oppenheimer analyst Dominick Gabriele had a Perform rating on FIS.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 7:29 pm

CMCSA

PARA

WBD

Benchmark analyst Matthew Harrigan has reiterated a Buy rating on Warner Bros. Discovery, Inc (NASDAQ:WBD) with a price target of $26.00. The potential sale of CNN to ex-CEO Jeff Zucker, if funded primarily by the UAE, could raise political and regulatory concerns. The sale would necessitate a comprehensive CFIUS review. The analyst also mentioned that CNN live programming could be a building block for the Max streaming service, and could potentially enable a merger with Comcast Corp (NASDAQ: CMCSA)-owned NBCUniversal.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 7:23 pm

AMZN

SPY

Blue Origin, Jeff Bezos' space company, is planning to expand into international markets and is considering a launch site outside the US. The company is also seeking partnerships and acquisitions in Europe and beyond to grow its launch and space services businesses. Europe's imminent retirement of the Ariane 5 rocket and the implosion of Virgin Orbit could provide opportunities for Blue Origin. The company is also considering opportunities in the Middle East. Blue Origin has struggled to compete with Rocket Lab and SpaceX, but is developing a fully reusable heavy-lift orbital rocket called New Glenn.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 7:12 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) was founded 29 years ago. If an investor had bought $1,000 worth of Amazon shares at the time of its IPO in 1997, they would now be worth $1,731,605.18. The company has grown through new product offerings such as Amazon Prime Video and Amazon Web Services, and through acquisitions like Alexa, Audible, Twitch, Whole Foods, Pill Pack, and MGM.

Portfolio Pulse from Chris Katje

July 05, 2023 | 6:54 pm

ATVI

MSFT

SONY

Microsoft Corp. (NASDAQ:MSFT) has claimed in a court document that Sony Group Corp. (NYSE:SONY) plans to release a PlayStation 5 Slim later this year, priced at $399.99. The document was released during the ongoing Federal Trade Commission trial over Microsoft's $68.7 billion acquisition of Activision Blizzard Inc (NASDAQ:ATVI). Microsoft is trying to persuade the court that Nintendo Switch should be classified within the same market segment as the Xbox Series consoles and the PlayStation 5. Sony is also expected to release a handheld version of PlayStation 5 later this year for under $300.

Portfolio Pulse from Franca Quarneti

July 05, 2023 | 6:20 pm

AWKNF

Awakn Life Sciences Corp. (OTCQB:AWKNF) has sold its London subsidiary and healthcare clinic to a joint venture named Awakn Via Amitis Ltd., co-owned by UK mental healthcare charity Via and private UK investment company Amitis Group. The clinic will continue to operate under its original name, with Via taking over clinical operations. Awakn is also reviewing its Norwegian clinic’s business for a potential sale.

Portfolio Pulse from Lara Goldstein

July 05, 2023 | 5:54 pm

NASDAQ:FLGC

OTCQB:CBWTF

OTCQX:ACRHF

OTCQX:DLTNF

OTCQX:GLASF

OTCQX:MEDIF

TSXV:HMPG

TSXV:ZYUS

Several cannabis companies have announced leadership changes. The Hempshire Group and ZYUS Life Sciences Corp. reported board changes. Glass House Brands, MediPharm Labs Corp., Auxly Cannabis Group, and Delta 9 Cannabis Inc. announced results from their annual meetings, electing new board directors. Würk, Flora Growth Corp., Acreage Holdings, and Ally Biotech have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 05, 2023 | 5:25 pm

ADER

26 Capital Acquisition Corp. (NASDAQ:ADER) has responded to a termination notice of a merger agreement from Tiger Resorts Asia Ltd, stating that the notice is baseless. 26 Capital accuses Tiger Resorts of repeated contractual breaches to avoid closing the deal. The matter is subject to a pending Delaware litigation set for trial on July 10, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 5:03 pm

TEVA

Teva Pharmaceutical Industries Ltd. is considering the sale of its active pharmaceutical ingredients unit, which could be worth around $2 billion, according to Bloomberg News.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 4:23 pm