Streetbeat News

Acquisitions Mergers

CS

UBS

The Monetary Authority of Singapore (MAS) announced that the operations of UBS Group AG (UBS) and Credit Suisse Group AG (CS) in Singapore will not be affected by the legal completion of the takeover. Both banks will continue to operate under separate licenses, focusing on private banking and investment banking.

Portfolio Pulse from Charles Gross

June 12, 2023 | 9:42 am

CS

UBS

UBS Group AG has completed its acquisition of Credit Suisse Group AG, with the combined entity operating as a consolidated banking group. UBS expects its CET1 capital ratio to be around 14% in Q2 2023. The last trading day of CS on the SIX Swiss Exchange is today.

Portfolio Pulse from Lekha Gupta

June 12, 2023 | 9:32 am

AVGO

VGK

VMW

EU antitrust regulators are set to approve Broadcom's acquisition of VMWare, conditional on Broadcom's interoperability remedies to address competition concerns, according to Reuters sources.

Portfolio Pulse from Charles Gross

June 12, 2023 | 9:10 am

RGLD

Royal Gold's subsidiary, RG Royalties, has entered into a binding commitment letter with ACG Acquisition Company to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil for $250 million.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 8:14 am

KDNY

NVS

Novartis plans to acquire Chinook Therapeutics for $40/share in cash, with the potential for an additional $4/share through contingent value rights, totaling up to $3.5B. The transaction is expected to be completed in H2 2023.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 8:11 am

MEG

Needham analyst James Ricchiuti reiterated a Buy rating on Montrose Environmental Group (NYSE:MEG) with a price target of $54. The recent acquisition of Matrix Solutions expands MEG's operating footprint in Canada and adds a large team of environmental specialists. The analyst believes MEG's first-mover advantage will be difficult for competitors to replicate.

Portfolio Pulse from Nabaparna Bhattacharya

June 09, 2023 | 7:05 pm

TNET

TriNet shares are trading higher after a report indicated the company is working with Morgan Stanley to explore a potential sale.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 6:57 pm

ANGO

MMSI

Needham analyst Mike Matson reiterated a Buy rating on Merit Medical Systems (MMSI) and raised the price target to $96 from $90 after the company acquired Dialysis and Biopsy products from AngioDynamics (ANGO) for $100 million. Matson expects revenue growth to return to mid-single digits or better and EPS growth to return to 15%+ for MMSI.

Portfolio Pulse from Nabaparna Bhattacharya

June 09, 2023 | 6:51 pm

ACI

KR

TGT

WMT

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Kroger Co (NYSE:KR) with a $55 price target, expecting solid 1Q23 earnings. Kroger's acquisition of Albertsons Companies, Inc. (NYSE:ACI) is expected to further solidify its leadership in the US grocery market.

Portfolio Pulse from Shivani Kumaresan

June 09, 2023 | 6:38 pm

MS

TNET

TriNet Group is reportedly working with Morgan Stanley to explore a potential sale of the company. The human resources solutions provider has not yet made any official announcement.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 5:39 pm