Streetbeat News

Acquisitions Mergers

DUK

Duke Energy has sold its commercial distributed generation business to Arclight for $364 million.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 11:39 am

GSK

HLN

UL

Haleon Plc (NYSE:HLN) is considering selling some non-core businesses, including its Nicotinell brand, as part of a strategy shift towards core products. The sale of Nicotinell could be valued as high as $800 million. Haleon was formed from the demerger of GSK plc's (NYSE:GSK) Consumer Healthcare business. GSK recently sold 240 million Haleon shares, reducing its stake to 10.3%. Unilever plc (NYSE:UL) has made three unsolicited proposals to acquire GSK's Consumer Healthcare business.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 11:37 am

RVLP

RVL Pharmaceuticals is considering strategic alternatives, including acquiring a specific potential counterparty in an all-stock deal. The company is also in discussions with potential financing sources for the combined company and is in business development discussions with other parties.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:54 am

ATS

ATS has acquired Belgium-based Yazzoom BV, a provider of AI and machine learning-based tools for industrial production. Yazzoom will join ATS' Process Automation Solutions business, a leading provider of automation and digitalization solutions for the process and manufacturing industries.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:48 am

PTEN

Patterson-UTI Energy (PTEN) is set to acquire Ulterra, a global drill bit company, for $370M in cash and 34.9M shares of PTEN common stock. Ulterra will continue to operate under its own name and maintain its headquarters in Fort Worth, Texas.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:04 am

AEL

BAM

BNRE

Brookfield Reinsurance has agreed to acquire AEL in a $4.3 billion transaction. Each AEL shareholder will receive $55.00 per share, consisting of $38.85 in cash and 0.49707 of a Brookfield Asset Management Ltd. share. This represents a 35% premium to AEL's closing share price on June 23, 2023, and a 42% premium to AEL's 90-day VWAP as of the same date.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:02 am

OMVJF

OMVKY

Austria's OMV AG is reportedly in talks with Abu Dhabi National Oil Co. (ADNOC) to merge their companies, Borouge Plc and Borealis AG, into a chemicals and plastics firm worth over $30 billion. The potential valuation and ownership structure are being discussed, with formal merger terms expected in the coming weeks. OMV owns 75% of Borealis, while ADNOC holds the remaining. The combined entity's valuation may exceed $30 billion, including potential synergies.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 9:52 am

ARVL

Electric vehicle startup Arrival SA (NASDAQ:ARVL) has terminated its proposed merger with Kensington Capital Acquisition Corp V and plans to pursue alternate funding. The merger would have provided Arrival with up to $283 million for the development of its XL van. Arrival ended Q1 with $130 million in cash. The company has engaged TD Cowen and Teneo Financial Advisory for its new funding strategy.

Portfolio Pulse from Anan Ashraf

July 04, 2023 | 6:49 am

GOOGL

MSFT

Yahoo, which was delisted in 2017 following its acquisition by Verizon, is considering a relisting. CEO Jim Lanzone stated that the company is financially ready for an IPO and is very profitable. Yahoo ranks third in the search market after Alphabet's Google and Microsoft's Bing. The company is also considering acquisitions in related sectors.

Portfolio Pulse from Shanthi Rexaline

July 04, 2023 | 6:03 am

DWAC

Digital World Acquisition (NASDAQ:DWAC), the primary financial collaborator of former President Donald Trump’s media company, has proposed an $18 million settlement to the Securities and Exchange Commission (SEC) to resolve an investigation into its initial merger discussions. The settlement, still pending SEC approval, could expedite the long-delayed merger between Digital World and Trump Media & Technology Group.

Portfolio Pulse from Benzinga Newsbot

July 04, 2023 | 1:37 am