Streetbeat News

Acquisitions Mergers

BXRX

Baudax Bio has agreed to acquire TeraImmune in a stock-for-stock transaction, leading to a rise in Baudax Bio's share price.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 1:59 pm

VNO

Rumors are circulating that a large activist investor may be getting involved with Vornado Realty Trust (VNO). The activist could be seeking board representation and may call for the company to explore a private takeover or a takeover from Activist Insight.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 1:42 pm

ENZC

SAGA

Sagaliam Acquisition Corp. (SAGA) has amended its non-binding term sheet for the purchase of Biogenysis, Inc. (BGEN) and Virogentics Inc. (VIRO), subsidiaries of Enzolytics Inc. (ENZC), raising the combined purchase price to $450M. Sagaliam plans to raise additional capital through a PIPE transaction, which will be used to fund clinical trials and drug discovery efforts. New board members have also been announced.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 1:28 pm

NAVB

Navidea Biopharmaceuticals has rejected an unsolicited offer from ProPhase Labs to acquire certain assets, stating that the proposal substantially undervalues Navidea and is not in the best interests of stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 1:18 pm

CG

Global investment firm Carlyle (NASDAQ:CG) has agreed to acquire a majority stake in Anthesis, a sustainability advisory and solutions firm. The investment will support Anthesis' growth and expand its ESG and sustainability offerings. The transaction will also strengthen Carlyle's ESG strategy. The financial details of the transaction were not disclosed.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 1:05 pm

MSFT

NVDA

Artificial intelligence startup Inflection AI has raised $1.3 billion in funding from Microsoft Corp and Nvidia Corp, among others, bringing the total raised by the company to $1.525 billion. The startup, co-founded by DeepMind's Mustafa Suleyman and LinkedIn creator Reid Hoffman, has launched a chatbot called Pi. With Nvidia's investment, Inflection AI now has access to 22,000 Nvidia H100 GPUs.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 12:51 pm

BABA

JD

Alibaba Group Holding Limited (NYSE:BABA) continues to attract investor interest despite reports of a possible contraction in Chinese manufacturing. Alibaba's grocery unit Freshippo is expanding its physical stores in China and preparing to spin off and go public. Meanwhile, Alibaba's rival, Shein, has confidentially filed for a U.S. listing. JD.Com, Inc (NASDAQ:JD) has set up a new business unit for its grocery business 7Fresh.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 12:46 pm

AUPH

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) is exploring strategic alternatives, including a potential sale, merger, or other strategic transaction. The company has retained JP Morgan as its financial advisor and Korn Ferry to assist in the search for two new directors following the resignations of George Milne and Joseph Hagan. MKT Capital Ltd, a shareholder with a 4.2% stake, has suggested a sale of the entire business could yield up to $28 per share.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:42 pm

ABBV

BHC

BLCO

NVS

Bausch + Lomb Corporation (NYSE:BLCO) has agreed to acquire 'front of eye' ophthalmology assets from Novartis AG (NYSE:NVS) for $1.75 billion in upfront cash, plus additional milestone payments. The deal includes Xiidra, an eye drop for dry eye symptoms, and other assets. The acquisition is expected to bolster Bausch's stake in the profitable and expanding dry-eye market. The company forecasts total FY23 sales of $3.9-$3.95 billion. Bausch is being spun out of a larger healthcare firm, Bausch Health Companies Inc (NYSE: BHC).

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:40 pm

BSFC

Blue Star Foods Corp. (NASDAQ: BSFC) has received an option to purchase land for its Recirculatory Aquaculture Systems (RAS) expansion in South Carolina. The company is working with the South Carolina Department of Commerce on economic development and incentives for the crab project. Preliminary proposals offer up to $3 million in incentives. The land, costing approximately $11.41 million, will be used to construct a new facility and integrate a Crab Hatchery, making it the largest Soft Shell Crab facility on the eastern shore of the US.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:34 pm