Streetbeat News

Acquisitions Mergers

TSP

TuSimple is exploring strategic alternatives for its US business, including a possible sale. If a sale occurs, TuSimple would continue as a global Level 4 autonomous driving technology company, focusing on operations in Asia-Pacific and other major global markets.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 9:44 pm

TRSSF

TerrAscend Corp has completed its acquisition of Derby 1, LLC, also known as Peninsula Alternative Health, a medical marijuana dispensary in Maryland. This acquisition is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis. The company expects significant sales and margin improvement at this location with the launch of adult-use cannabis. With this acquisition, TerrAscend's retail footprint increases to 35 dispensaries nationwide.

Portfolio Pulse from Maureen Meehan

June 28, 2023 | 9:41 pm

OSTK

Overstock.com has completed its acquisition of certain IP assets of Bed Bath & Beyond, including website and domain names, trademarks, tradenames, patents, a customer database and loyalty program data. The company plans to combine its asset-light business model with the Bed Bath & Beyond brand under a Bankruptcy Court supervised process. Overstock plans to re-launch the Bed Bath & Beyond domain in Canada within the next week and in the United States in the coming weeks.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 8:41 pm

GFGD

Dana Barsky has resigned as President of Growth For Good Acquisition (GFGD). David Birnbaum has been named as the interim President.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:31 pm

OSTK

Overstock has completed its acquisition of certain intellectual property assets of the Bed Bath & Beyond brand, leading to a rise in Overstock's share prices.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:14 pm

V

Visa Inc. has announced plans to acquire Pismo, a cloud-based digital payment platform, for $1 billion in cash. The acquisition is expected to enhance Visa's capabilities in the digital payments space.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:05 pm

OSTK

Overstock.com Inc. has acquired the Bed Bath & Beyond brand and other intellectual property. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:02 pm

DRI

FCPT

Four Corners Property Trust Inc. (NYSE:FCPT) continues to expand its portfolio through acquisitions of restaurant, healthcare, and retail properties across the US. The company has closed or announced $154 million in transactions for 2023, with 66% being casual dining properties and 25% medical retail sites. Hedge funds such as HighTower Advisors and Millennium Management have been accumulating shares of FCPT. The company also reported a 99.9% occupancy rate and 99.9% rent collections in Q1. Darden Restaurants Inc. (NYSE:DRI) sold 13 Cheddar’s Scratch Kitchen and one Olive Garden property to Four Corners.

Portfolio Pulse from Ethan Roberts

June 28, 2023 | 7:54 pm

ATVI

MSFT

SONY

Activision Blizzard's CEO, Bobby Kotick, has stated that the company may abandon the $68.7 billion takeover bid by Microsoft if the U.S. Federal Trade Commission (FTC) manages to pause the deal. The FTC argues that Microsoft's acquisition of Activision Blizzard could harm competitors like Sony by excluding games such as 'Call of Duty' from PlayStation consoles. However, Microsoft's Phil Spencer has committed to keeping the game on the PlayStation platform.

Portfolio Pulse from Franca Quarneti

June 28, 2023 | 7:52 pm

ATVI

MSFT

Activision Blizzard Inc. may abandon the $69 billion takeover bid by Microsoft if the US Federal Trade Commission wins a ruling pausing the deal. Microsoft called Activision CEO Bobby Kotick to testify in court to reinforce its claim that the acquisition won't hurt competition in the markets for console and subscription-based games.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 7:26 pm