Streetbeat News

Acquisitions Mergers

HSBC

NVDA

SCBFY

WMT

XPEV

Walmart's CFO expects Flipkart and PhonePe to reach $100 billion in value, driving the company's foreign market sales. XPeng launches self-driving tech in China, rivaling Tesla. Nvidia receives significant orders from ByteDance and Alibaba for its GPUs. Hong Kong regulator pressures HSBC and Standard Chartered to take on crypto clients.

Portfolio Pulse from Vandana Singh

June 15, 2023 | 1:47 pm

GT

Traders are circulating rumors of an imminent takeover of The Goodyear Tire & Rubber Company (GT), causing its shares to move higher.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 1:43 pm

OLB

OLB Group has acquired an 80.1% controlling interest in the black011.com platform, providing open access to approximately 31,600 retail locations. The acquisition will enable OLB Group to focus on underbanked communities and expand its offerings, including point-of-sale merchant services and digital products.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 1:32 pm

KACL

Kairous Acquisition Corp. Limited (NASDAQ:KACL) announced that its sponsor, Kairous Asia Limited, has deposited $120,000 into the company's trust account to extend the deadline for completing a business combination from June 16, 2023 to July 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 1:26 pm

NEX

PTEN

Patterson-UTI Energy (PTEN) and NexTier Oilfield Solutions (NEX) have announced an all-stock merger of equals, forming a combined company with an enterprise value of approximately $5.4 billion. The merger is expected to close in Q4 2023 and be accretive to EPS and FCF per share in 2024. The combined company aims to generate high FCF conversion and distribute at least 50% of FCF to shareholders.

Portfolio Pulse from Lekha Gupta

June 15, 2023 | 12:45 pm

BLBX

Blackboxstocks announced an $8.5 million investment stake in Evtec Group, issuing 2.4 million shares of Series B Convertible Preferred Stock. This move is an initial step towards a merger and helps Blackbox regain compliance with NASDAQ's stockholder equity requirement.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 12:35 pm

CNGL

Canna-Global Acquisition has signed a definitive bid implementation and business acquisition agreement with New Quantum Holdings. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 12:07 pm

ATXG

Addentax is in advanced talks to acquire a partial stake in Shanghai Bao Pharmaceutical from its Chairman and CEO, Mr. Hong Zhida. Bao Pharma has 74 patents and is making progress on its key pipelines.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 12:05 pm

CKHUY

VOD

Vodafone Group and CK Hutchison Holdings' UK telecommunication businesses merger is under scrutiny by the UK's Competition and Markets Authority (CMA). The merger would result in Vodafone owning 51% and CKHGT owning 49% of the combined business. Approval is needed under the National Security and Investment Act, posing a risk to the deal.

Portfolio Pulse from Lekha Gupta

June 15, 2023 | 11:56 am

ESTA

NOG

Earthstone Energy has entered an agreement to acquire Novo Oil & Gas Holdings for $1.5B. Concurrently, Northern Oil and Gas will acquire working interests equal to a pro-rate 1/3 of oil and gas assets of Novo for $500M from Earthstone.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 11:34 am