Streetbeat News

Acquisitions Mergers

ATVI

MSFT

SGAMY

Internal documents in the ongoing legal battle between the FTC and Microsoft over the acquisition of Activision Blizzard have revealed Xbox's interest in acquiring Sega Sammy Holdings. The documents outline strategic recommendations to address Xbox's content gaps in mobile development, with a focus on acquiring franchises with strong communities and deep engagement. Other developers Xbox considered buying include Thunderful, Supergiant Games, Niantic, Playrix, Zynga, Bungie, IO Interactive, and Scopely.

Portfolio Pulse from Franca Quarneti

June 27, 2023 | 8:54 pm

PLAG

Planet Green Holdings Corp. has entered into a Securities Purchase Agreement with Bochuang New Energy Co., where Bochuang will purchase 40% of the outstanding equity interests of Xianning Xiangtian Energy Holding Group Co., Ltd. from Planet Green for RMB 20,000,000. Prior to this transaction, Planet Green owned 40% equity interest of Xianning Xiangtian.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 8:36 pm

OTEC

OceanTech Acquisitions I Corp. has deposited $30,000 into its trust account for public stockholders, extending the period to consummate a business combination until August 2, 2023.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 8:22 pm

FWRG

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has acquired all five of its previously franchise-owned restaurants and corresponding development rights in Milwaukee, Wisconsin. The acquisition was funded with cash on hand.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 8:09 pm

BAM

Brookfield Asset Management's shares are trading higher following a proposal by Brookfield Reinsurance to acquire AEL.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 7:43 pm

MANU

Manchester United PLC (NYSE:MANU) stock surged over 7% on Tuesday despite an EPS miss for Q3. The company reported a loss of 9 cents per share, but beat revenue estimates with $206.539 million. The surge is attributed to rumors of a potential sale of the club, possibly to Qatar's Sheikh Jassim. The stock's uptrend negated its previous downtrend pattern, and it is expected to continue rising.

Portfolio Pulse from Melanie Schaffer

June 27, 2023 | 7:20 pm

UBS

UBS Group AG is planning major layoffs at Credit Suisse Group AG, which it recently acquired. The layoffs are part of a strategy to cut back on the numbers at Credit Suisse’s loss-making investment bank. UBS also plans to retain the majority of Credit Suisse's private bankers, particularly in the Asia Pacific region. The merger and subsequent layoffs are expected to have a significant impact on the banking sector.

Portfolio Pulse from Benzinga Newsbot

June 27, 2023 | 7:16 pm

SPY

The Federal Trade Commission (FTC) and the Department of Justice (DOJ) have proposed changes to the Hart-Scott-Rodino (HSR) form to make merger reviews more effective and efficient, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 6:00 pm

ACET

BDTX

CNTG

RIDE

SYTA

TIVC

WBA

Several stocks experienced significant movement in Tuesday's mid-day session. Notable gainers included Tivic Health Systems, Black Diamond Therapeutics, and Centogene, which saw increases due to distribution agreements, promising clinical data, and joint ventures respectively. On the other hand, Adicet Bio, Siyata Mobile, and Lordstown Motors Corp were among the biggest losers, with drops due to disappointing clinical data, share offerings, and bankruptcy filings respectively. Walgreens Boots Alliance also saw a decrease after lowering its FY23 guidance.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 5:56 pm

BTCUSD

Crypto custodian Prime Trust has been declared 'critically deficient' by Nevada's Department of Business and Industry, leading to a shortfall of customer funds and inability to honor withdrawals. This comes after BitGo terminated its intended acquisition of Prime Trust. Despite this, experts believe the broader digital-asset market is in a recovery phase and poised for growth, with both retail and institutional investors increasing their exposure to Bitcoin, Ethereum, and other major digital assets.

Portfolio Pulse from Murtuza Merchant

June 27, 2023 | 5:10 pm