Streetbeat News

Acquisitions Mergers

LTHM

OROCF

The US and its Western allies are rethinking global supply chains to reduce China's dominance in critical minerals, leading to higher inflation. The US government is implementing policies like the Inflation Reduction Act and the Infrastructure and Investment Jobs Act to incentivize domestic sourcing and manufacturing. The merger between Livent Corp. and Allkem Ltd. creates the world's third-largest lithium corporation.

Portfolio Pulse from Piero Cingari

June 09, 2023 | 5:31 pm

ANGO

AngioDynamics announced the sale of its Dialysis product portfolio and BioSentry Tract Sealant System Biopsy product to Merit Medical Systems for $100 million, and also released its preliminary FY23 net sales guidance.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 5:24 pm

GBLI

Global Indemnity announced that multiple parties have expressed preliminary interest in acquiring or merging with Penn-America or Global Indemnity. The company has also increased its existing share buyback authorization to $135 million.

Portfolio Pulse from Charles Gross

June 09, 2023 | 5:11 pm

APRN

Blue Apron announced the closing of its transaction, transferring its operational infrastructure to FreshRealm. The company received $25 million in upfront cash and is eligible for $25 million in milestones.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 4:27 pm

APRN

Blue Apron has closed its transaction with FreshRealm, valued up to $50 million, with approximately $25 million of upfront cash received. This deal is expected to strengthen Blue Apron's supply chain and improve its product offerings.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 3:54 pm

FXI

INTC

TSEM

Traders are circulating rumors that Intel may still gain conditional approval from China's antitrust authority for its $5.9B acquisition of Tower Semiconductor.

Portfolio Pulse from Happy Mohamed

June 09, 2023 | 2:49 pm

DAVA

Endava Plc (NYSE:DAVA) has announced the acquisition of DEK Corporation Pty Ltd, DEK Technologies Sweden AB, and DEK Vietnam Company Ltd, a multinational firm that develops software and hardware solutions. The acquisition is part of Endava's diversification strategy, strengthening its Australian operations and potentially using DEK's delivery capabilities in Vietnam for future major delivery locations.

Portfolio Pulse from Akanksha Bakshi

June 09, 2023 | 2:12 pm

ANGO

MMSI

AngioDynamics has divested its Dialysis product portfolio and BioSentry Tract Sealant System Biopsy product to Merit Medical Systems for $100 million in cash. The divested assets contributed approximately $32 million in sales in FY23. AngioDynamics plans to use the proceeds to pay debts and support strategic investments.

Portfolio Pulse from Nabaparna Bhattacharya

June 09, 2023 | 2:03 pm

AZN

DISH

GOOG

META

NFLX

NIO

NVDA

UBS

Researchers found Nvidia's AI software feature, NeMo Framework, susceptible to privacy breaches. UBS signed a loss protection agreement with the Swiss government for Credit Suisse takeover-related losses. NIO's Q1 sales growth missed consensus. AstraZeneca signed a $2B agreement for cell therapies targeting diabetes and received unanimous support for its RSV treatment. Netflix gained subscribers from password sharing crackdown. Google plans to launch News Showcase in the US. Visa is in talks to acquire Brazilian payment provider Pismo. Credit Suisse is looking to sell its China securities brokerage business. BYD unveiled a new EV brand. Dish Network struggles to sell assets amid bankruptcy speculation. Mark Zuckerberg discussed AI at Meta's employee meeting.

Portfolio Pulse from Vandana Singh

June 09, 2023 | 1:56 pm

UBS

UBS and the Swiss government have signed an agreement for the government to cover up to $10 billion in losses from its emergency takeover of Credit Suisse.

Portfolio Pulse from Happy Mohamed

June 09, 2023 | 1:40 pm