Streetbeat News

Acquisitions Mergers

KBE

KRE

SPY

XLF

Treasury Secretary Janet Yellen expects more bank mergers this year due to higher interest rates and recent banking turmoil, making it more expensive for banks to retain depositors.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 3:12 pm

MARA

MEDS

ROOT

UCAR

VCIG

Benzinga's Stock Whisper Index highlights five stocks that warrant attention: U Power Ltd (UCAR), Trxade Health (MEDS), VIC Global Ltd (VCIG), Root Inc (ROOT), and Marathon Digital Holdings Inc (MARA). These stocks have seen significant price movements due to various factors such as tax breaks, reverse stock splits, AI-related news, takeover bids, and cryptocurrency price surges.

Portfolio Pulse from Chris Katje

June 23, 2023 | 2:28 pm

BBLN

Babylon Holdings Limited (NYSE:BBLN) has agreed to be acquired by AlbaCore Capital and MindMaze Group. The deal provides $34.5 million in funding to Babylon and is expected to close in July 2023. Following the transaction, Babylon will cease trading on the NYSE under the ticker symbol 'BBLN'.

Portfolio Pulse from Nabaparna Bhattacharya

June 23, 2023 | 2:14 pm

JPM

TXT

Textron Inc is reportedly resuming negotiations to sell its fuel systems division, Kautex, worth over $1 billion. The company has hired JPMorgan Chase & Co to handle the sale. Kautex contributed around $1.8 billion to Textron's overall revenue of $12.8 billion in FY22.

Portfolio Pulse from Akanksha Bakshi

June 23, 2023 | 2:14 pm

E

Eni SpA (NYSE:E) and Vår Energi ASA have agreed to acquire Neptune Energy Group for a combined value of around $5 billion. Eni will acquire Neptune's global business outside of Norway and Germany for $2.6 billion, while Vår Energi will buy Neptune's Norway business for $2.3 billion. The acquisition is expected to close in Q1 2024.

Portfolio Pulse from Lekha Gupta

June 23, 2023 | 1:28 pm

GS

Goldman Sachs is reportedly seeking to unload its fintech lender Greensky, which it acquired in 2021, and may take a large writedown as a result.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:00 pm

HEXO

TLRY

Tilray has acquired HEXO Corp., making it Canada's top cannabis company with a 44% market share boost. The strategic combination is expected to drive revenue growth, increase margins and earnings, and create annualized cost savings of over $27 million.

Portfolio Pulse from Nicolás Jose Rodriguez

June 23, 2023 | 12:58 pm

INDT

INDUS Realty Trust (NASDAQ:INDT) has received approval from the Committee on Foreign Investment in the United States (CFIUS) for its merger with IR Parent, LLC and IR Merger Sub II, Inc. All regulatory approvals have been received, and the merger is expected to close on June 29, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 12:36 pm

MEDS

TRxADE HEALTH, Inc. (NASDAQ:MEDS) has signed a binding letter of intent to acquire Superlatus, Inc., a US-based holding company of food products and distribution capabilities. Upon closing, Superlatus shareholders will receive 30,821,918 shares of MEDS, valued at $7.30 per share.

Portfolio Pulse from Bill Haddad

June 23, 2023 | 12:07 pm

EVR

GS

INTC

MS

NVDA

QCOM

Goldman Sachs loses investment banker Tammy Kiely to Evercore. Kiely, who was co-head of Goldman's technology investment-banking group, had a role in major semiconductor deals and had clients like Qualcomm, Intel, and Nvidia. In 2023, Evercore also hired Goldman's software banking head Nick Pomponi.

Portfolio Pulse from Anusuya Lahiri

June 23, 2023 | 12:05 pm