Streetbeat News

Acquisitions Mergers

BTCUSD

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has added 12,333 Bitcoin to its holdings, investing around $347 million. This brings the company's total Bitcoin holdings to 52,333 coins, which have been amassed for a staggering $4.52 billion. Despite considerable losses since its initial investment in 2020, the company's co-founder and chairman, Michael Saylor, remains dedicated to cryptocurrency.

Portfolio Pulse from Murtuza Merchant

June 28, 2023 | 4:08 pm

KLR

Tata Communications Limited has announced its intention to acquire Kaleyra, Inc. (NYSE:KLR) for $7.25 per share, a total consideration of approximately $100 million, including the assumption of all outstanding debt. This represents a significant premium to Kaleyra's last closing share price. Following the announcement, Kaleyra's shares traded nearly 40% higher.

Portfolio Pulse from Erica Kollmann

June 28, 2023 | 3:49 pm

JOBY

NERV

OSTK

Despite a general drop in U.S. stocks, several companies recorded gains. Minerva Neurosciences climbed 46.2% after announcing a $20 million private placement. Joby Aviation rose 26.4% following a permit for flight testing of its first production prototype. Xponential Fitness, Archer Aviation, Opendoor Technologies, Viad Corp, Beazer Homes USA, Carvana, Overstock.com, Viking Therapeutics, Energy Vault Holdings, Snowflake, Global Blue Group Holding, Squarespace, and Pinterest also saw increases. Notably, Overstock.com's acquisition of Bed Bath & Beyond's brand name, intellectual property, and e-commerce platform was approved by a U.S. bankruptcy judge.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 2:19 pm

LFUS

Littelfuse, Inc. (NASDAQ:LFUS) has agreed to acquire a 200mm wafer fab in Dortmund, Germany, from Elmos Semiconductor SE for approximately €93 million. The acquisition is expected to close early in FY25 and is not expected to have a material impact on LFUS' FY23 or FY24 financial results. LFUS shares traded higher by 0.23% at $281.28 on the last check Wednesday.

Portfolio Pulse from Akanksha Bakshi

June 28, 2023 | 1:51 pm

CIR

KKR

Global investment firm KKR has reaffirmed its intention to acquire CIRCOR International, stating that the transaction maximizes shareholder value and minimizes regulatory, market, and industry risks. The transaction is expected to close in Q4 2023. KKR has also agreed to eliminate third party financing risk by providing a full equity backstop of the transaction. KKR's resources will help CIRCOR expand its presence in attractive flow control markets and support further investments into CIRCOR's factories.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 1:30 pm

CG

Litmus Music has acquired a significant portfolio of compositions from Benny Blanco. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 1:16 pm

HON

Honeywell has agreed to acquire the Heads-Up-Display assets from Saab for its avionics offerings. The HUD technology will be integrated with Honeywell's Anthem and Primus Epic flight decks. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 1:07 pm

ERIC

IBM

STX

The most accurate Wall Street analysts have recommended holding three high-dividend tech stocks: Telefonaktiebolaget LM Ericsson (ERIC), International Business Machines Corporation (IBM), and Seagate Technology Holdings (STX). ERIC has a dividend yield of 5.21%, IBM 5.06%, and STX 4.62%. Recent news for ERIC includes the closure of a review of its 2019 Iraq report disclosures. IBM recently inked a deal to purchase Apptio Inc for $4.6 billion. STX reported worse-than-expected Q3 adjusted EPS and sales results.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 1:06 pm

TRI

Thomson Reuters has announced a definitive agreement to acquire Imagen Ltd., a cloud-native media asset management company. Imagen's business will be operated as part of the Reuters News division of Thomson Reuters. The acquisition is expected to enhance the experience for Reuters News Agency customers, making it easier for them to manage their content.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:48 pm

KLR

Tata Communications Limited has announced its intention to acquire Kaleyra, leading to a rise in Kaleyra's stock price.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:47 pm