Streetbeat News

Acquisitions Mergers

MANU

Manchester United Ltd. (NYSE:MANU) shares are rising following a Bloomberg report suggesting the Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani has expressed confidence that it’s won the bidding war for the club. However, the selling Glazer family could still decide to keep the club. The sale of the football club moves into the critical summer months, and it remains unclear when a decision could be officially announced.

Portfolio Pulse from Ryan Gustafson

June 28, 2023 | 6:53 pm

ATVI

MSFT

Activision Blizzard CEO, Bobby Kotick, has stated that the company will be left in a difficult position if the proposed acquisition by Microsoft is blocked. The deal, which is currently under regulatory scrutiny, is seen as crucial for Activision's future.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 6:38 pm

MEDS

TRxADE Health announced that it will acquire Superlatus, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 6:13 pm

DKNG

DraftKings Inc (NASDAQ:DKNG) has withdrawn its bid to acquire the U.S. business of PointsBet Holdings Ltd. The decision came after PointsBet's board recommended Fanatics Betting and Gaming's (FBG) improved proposal of $225 million, which is 15% above DKNG’s $195 million proposal. Oppenheimer analyst Jed Kelly reiterated an Outperform rating on DKNG shares and expects FBG to become a larger player in the OSB market. However, he does not foresee a significant near-term competitive impact for DKNG.

Portfolio Pulse from Shivani Kumaresan

June 28, 2023 | 5:53 pm

LECO

KeyBanc Capital Markets analyst Steve Barger upgraded Lincoln Electric Holdings, Inc. (LECO) to Overweight from Sector Weight, with a price target of $232. The upgrade is based on LECO's strong execution, record operating margin, and EPS visibility on EV charging growth. The welding segment is expected to be a significant revenue driver. The analyst also expects LECO's recent acquisition of Fori to boost the company's goal of $1 billion in Automation revenues by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2023 | 5:51 pm

MANU

Manchester United shares are trading higher following a report suggesting the Qatar group is confident it won the bidding war for the company.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 5:41 pm

OSTK

Overstock.com's shares are trading higher following the approval of its $21.5 million acquisition of Bed Bath & Beyond's brand name, business data, and digital assets. The acquisition was made through a bankruptcy-run auction. Overstock.com's shares have risen by 27% over the past three months.

Portfolio Pulse from Erica Kollmann

June 28, 2023 | 4:44 pm

MSFT

Microsoft's stock price has been wrestling with the $350 mark, a resistance level that has stood firm since November 2021. The company's bid to acquire Activision Blizzard has sparked a legal battle with the FTC, which argues that the merger could hinder competition in the online gaming market. The stock declined by 6% after failing to break past $350 and is currently holding at support before the next attempt at the all-time high.

Portfolio Pulse from Zaheer Anwari

June 28, 2023 | 4:43 pm

HON

SAABY

Honeywell International Inc has agreed to acquire heads-up-display (HUD) assets from Saab ADR. The HUD technology will be integrated with Honeywell's avionics offerings to enhance safety solutions. The financial terms of the deal were not disclosed. Honeywell's shares are trading slightly lower.

Portfolio Pulse from Akanksha Bakshi

June 28, 2023 | 4:37 pm

MANU

The Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani is confident of winning the bid for Manchester United Plc, overcoming a rival offer from British billionaire Jim Ratcliffe. The sale process has been delayed due to unmet expectations of the selling Glazer family, disagreements among the owners about selling, and fears of litigation from minority shareholders.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 4:33 pm