Streetbeat News

Acquisitions Mergers

AVNS

Avanos Medical (NYSE: AVNS) has announced a definitive agreement to acquire Diros Technology, a leading manufacturer of radiofrequency products for chronic pain treatment. The deal is expected to close in Q3 2023 and be immediately accretive to revenue growth, gross margins, operating margins, and EPS.

Portfolio Pulse from Charles Gross

June 19, 2023 | 11:13 pm

TRSSF

TerrAscend has received regulatory approval from the Maryland Cannabis Administration for the acquisition of Derby 1, LLC, a medical dispensary in Maryland. The acquisition will add a second dispensary to TerrAscend's Maryland footprint ahead of adult-use sales starting on July 1, 2023.

Portfolio Pulse from Maureen Meehan

June 19, 2023 | 10:31 pm

HEXO

TLRY

HEXO Corp. has received the final order from the Ontario Superior Court of Justice for its arrangement with Tilray Brands, Inc. Under the arrangement, Tilray will acquire all issued and outstanding common shares and non-voting Series 1 Preferred Shares of HEXO. The deal is expected to be completed in the coming days.

Portfolio Pulse from Charles Gross

June 19, 2023 | 8:12 pm

GME

NKE

OWL

Michael Jordan is selling his majority stake in the Charlotte Hornets to an ownership group led by Gabe Plotkin and Rick Schnall, valuing the team at $3 billion. Dyal HomeCourt Partners, a unit of Blue Owl Capital (NYSE:OWL), is also investing in the Hornets.

Portfolio Pulse from Chris Katje

June 16, 2023 | 7:41 pm

NCNO

NCino is reportedly exploring a sale due to interest from private equity firms, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 7:24 pm

NCNO

NCino Inc is reportedly exploring a sale as private equity firms show interest in a potential deal. The company's stock price may be impacted by the news.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 7:19 pm

CHRS

CLNN

EVLO

IRBT

PBLA

SPCE

US stocks traded lower on Friday, with Nasdaq Composite down 80 points. The University of Michigan consumer sentiment rose to a 4-month high in June. Virgin Galactic, iRobot, and Evelo Biosciences saw significant gains, while Panbela Therapeutics, Coherus BioSciences, and Clene experienced declines.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 7:18 pm

BLL

Ball Corp is reportedly exploring a sale of its aerospace business for over $5 billion, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 6:51 pm

GOOGL

SQSP

Squarespace (SQSP) shares are trading higher after announcing an agreement to acquire assets from Alphabet's (GOOGL) Google Domains business. The deal includes approximately 10 million hosted domains and is expected to close in Q3 2023, with benefits realized in 2024 and beyond.

Portfolio Pulse from Erica Kollmann

June 16, 2023 | 6:03 pm

ESTE

NOG

Earthstone Energy (ESTE) acquires Novo Oil & Gas Holdings for $1.5 billion, while Northern Oil & Gas (NOG) acquires a 33.33% stake in Novo assets for $500 million. Analyst Mike Scialla of Stephens & Co. reiterates an Overweight rating on ESTE and raises the price target to $21 from $18.

Portfolio Pulse from Nabaparna Bhattacharya

June 16, 2023 | 5:32 pm