Streetbeat News

Acquisitions Mergers

GTLS

IR

Chart Industries (NYSE:GTLS) has signed a definitive agreement to sell its Roots business to Ingersoll Rand (NYSE:IR) for $300 million. The transaction is expected to close in Q3 2023.

Portfolio Pulse from Ryan Gustafson

June 12, 2023 | 6:59 pm

BRPHF

Galaxy Digital Holdings (OTC:BRPHF) has won a legal battle against BitGo over the failed $1.2 billion acquisition deal. The court ruled that Galaxy had the right to terminate the acquisition due to BitGo's failure to provide audited financial statements for 2021.

Portfolio Pulse from Murtuza Merchant

June 12, 2023 | 6:54 pm

ATVI

MSFT

Xbox head Phil Spencer expressed confidence in the completion of Microsoft's acquisition of Activision Blizzard, despite regulatory hurdles. Both companies are appealing the UK Competition and Market Authority's block and awaiting approval from the US Federal Trade Commission.

Portfolio Pulse from Franca Quarneti

June 12, 2023 | 6:36 pm

ATVI

MSFT

The Federal Trade Commission (FTC) plans to file a lawsuit in federal court to block Microsoft's $69 billion acquisition of Activision Blizzard. The trial in the FTC's court is scheduled to commence in August, with a final verdict expected by the end of the year. The merger agreement between the two companies is set to expire on July 18.

Portfolio Pulse from Franca Quarneti

June 12, 2023 | 6:16 pm

ASST

Asset Entities Inc. shares surged 142% after announcing the development of an AI bot for its AE360DDM suite of services on Discord. Other stocks experienced significant movement in Monday's mid-day session, with several companies reporting new developments, acquisitions, and analyst upgrades.

Portfolio Pulse from Lisa Levin

June 12, 2023 | 5:04 pm

GTLS

Chart Industries announced the sale of its Roots business to Ingersoll Rand for $300 million, leading to an increase in Chart Industries' share price.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 5:04 pm

MS

Morgan Stanley CEO James Gorman stated that the bank is looking to do deals in asset management and is agnostic regarding geography. This comes after the bank's acquisition of Eaton Vance last year.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 4:35 pm

MS

Morgan Stanley CEO James Gorman anticipates further consolidation in the asset management industry. He also stated that growth targets for new money inflows are not reliant on deals, and approximately 25% of assets under management are in cash or cash equivalents.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 4:34 pm

BECN

Beacon Roofing Supply Inc (NASDAQ: BECN) has acquired Silver State Building Materials, Inc. in Nevada for undisclosed terms. The acquisition aligns with Beacon's 2025 goals of driving above-market growth. Year to date, the company has closed four acquisitions and opened five new locations.

Portfolio Pulse from Lekha Gupta

June 12, 2023 | 4:26 pm

ATVI

MSFT

The Federal Trade Commission (FTC) plans to file in federal court in California as soon as Monday to prevent Microsoft's acquisition of Activision from closing until the resolution of an August FTC trial.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 4:18 pm