Streetbeat News

Acquisitions Mergers

CVX

GLNCY

Bunge Ltd (NYSE:BG) and Chevron Corp's (NYSE:CVX) subsidiary Renewable Energy Group Inc. have acquired Argentina-based Chacraservicios S.r.l, a company that cultivates Camelina Sativa, a high oil content crop. The acquisition will add a new oil source to Bunge and boost Chevron's global supply chains, aiding both companies in catering to the increasing demand for lower-carbon renewable feedstocks. Last month, Bunge also disclosed an agreement to acquire Glencore PLC's (OTC:GLNCY) Viterra Limited.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 1:48 pm

DHI

D.R. Horton Inc (DHI) has acquired the homebuilding operations of Truland Homes for approximately $100 million in cash. The assets include around 263 lots, 155 homes in inventory, and 55 homes in sales order backlog. DHI also purchased additional lots and controls from Truland affiliates and third parties. The company plans to merge the Truland operations with its platforms in Baldwin County, Alabama, and Northwest Florida.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 1:37 pm

AAPL

BABA

HLN

MDLZ

NKLA

PFE

RIVN

TSM

UPS

Apple lost an appeal over 4G patent infringement in London court, marking another victory for Optis Cellular Technology. Deutsche Bank and Commerzbank face a $348M lawsuit by RusKhimAlyans, a Gazprom subsidiary. Nikola Corp plans to liquidate the assets of battery maker Romeo Power. Pfizer and Samsung Biologics signed two agreements for long-term manufacturing of Pfizer's biosimilar portfolio, worth $897M. Airbus is investing in a new Wing Technology Development Centre at its Filton site in the UK. TSMC expects a significant revenue rebound due to the launch of new Apple iPhones and strong demand for AI chips. Rivian Automotive reported Q2 production and delivery numbers. Evotec secured a US government contract for orthopoxvirus antibody. Mondelēz recalled two varieties of belVita biscuits in the US over peanut contamination. BYD plans to invest $620M in Brazil's Camaçari Industrial Complex. Alibaba is conducting a strategic review of video streaming platforms Youku and Tudou. UPS drivers consider going on strike after failed labor talks. OMV and ADNOC are in talks to create a chemicals and plastics company worth over $30B. Haleon is considering divesting some smoking cessation products to sell non-core businesses.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 1:23 pm

EME

EMCOR Group has announced an agreement to acquire ECM Holding Group. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 1:23 pm

DUK

Duke Energy Corp has agreed to sell its commercial distributed generation business to an affiliate of ArcLight Capital Partners for $364 million. The company expects to receive approximately $259 million from this transaction. The sale includes REC Solar operating assets, development pipeline, and O&M portfolio, and distributed fuel cell projects. This move supports Duke Energy's long-term regulated clean energy strategy.

Portfolio Pulse from Akanksha Bakshi

July 05, 2023 | 1:22 pm

CPE

Callon Petroleum Co (CPE) has completed its acquisition of Delaware Basin assets and divestiture of Eagle Ford assets. The company bought Delaware Basin assets for $249 million in cash and around 6.3 million of its common shares, and sold Eagle Ford assets for $551 million in cash. The transactions have reduced the company's debt by $300 million and initiated a shareholder return plan. The company also announced a two-year, $300 million share repurchase program, with the first shares expected to be repurchased in Q3 2023.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 1:07 pm

DWAC

Truth Social's merger partner has reached an $18M settlement with the SEC. The news may have implications for Digital World Acquisition Corp. (DWAC), which is associated with Truth Social.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 1:03 pm

DWAC

Digital World Acquisition Corp (DWAC), the financial firm linked to Donald Trump’s Truth Social platform, has reached an $18m settlement with the Securities and Exchange Commission (SEC) to end the investigation into its merger with the company. The settlement allows DWAC to proceed with the merger, turning Truth Social into a public company. This news follows the indictment of three individuals involved in the merger for insider trading.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 1:02 pm

BREA

Brera Holdings PLC (NASDAQ:BREA) has announced a definitive agreement to acquire a majority stake in the Italian Serie A1 women's professional volleyball team UYBA Volley. The acquisition is part of Brera's multi-sport strategy and is expected to provide access to UYBA's E-Work Arena. The financial terms of the deal were not disclosed.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:50 pm

BYDDF

BYDDY

Chinese EV manufacturer BYD Co, backed by Warren Buffett, plans to invest $620 million in Brazil's Camaçari industrial complex. The company will start operations in three factories simultaneously, creating over 5,000 jobs. The factories, set to start operations in 2024, will produce electric buses and trucks, hybrid and electric automobiles, and focus on lithium and iron phosphate processing. This move is expected to boost domestic production in Brazil and provide more competitive local prices.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2023 | 12:39 pm