Streetbeat News

Acquisitions Mergers

SNY

VTYX

Sanofi SA has made a $27 million strategic investment in Ventyx Biosciences, focusing on the development of VTX3232 for neuroinflammatory and neurodegenerative conditions. Ventyx has granted Sanofi an exclusive right of first negotiation for certain program rights. The investment will fund Ventyx's operations into the second half of 2026, with key trial data expected in 2025.

Portfolio Pulse from Vandana Singh

September 23, 2024 | 3:13 pm

RVNC

Revance Therapeutics' stock is declining following the announcement of an extension to its merger agreement deadline with Crown Laboratories due to ongoing discussions.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 3:11 pm

RVNC

Revance Therapeutics has denied allegations of material breaches under its distribution agreement with Teoxane. Additionally, the company has extended its merger agreement deadline with Crown Laboratories to October 4, 2024, as discussions continue.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 3:06 pm

APO

INTC

QCOM

Benchmark analyst Cody Acree suggests that Qualcomm's acquisition of Intel is unlikely due to financial and regulatory challenges. Apollo Global Management plans a $5 billion investment in Intel. Qualcomm would need to offer a significant premium for Intel, but regulatory scrutiny may hinder the deal.

Portfolio Pulse from Michael Juliano

September 23, 2024 | 2:59 pm

RIO

UEC

URNJ

Uranium Energy Corp. (UEC) has announced a $175 million deal to acquire Rio Tinto's Wyoming assets, including the Sweetwater Plant and uranium mining projects. This acquisition enhances UEC's production capabilities and resource base, positioning it as a leading uranium developer in the U.S. amid growing global nuclear energy demand.

Portfolio Pulse from Lekha Gupta

September 23, 2024 | 2:48 pm

STLA

Stellantis' CFO highlighted the company's openness to mergers and acquisitions if opportunities arise, while emphasizing the current focus on driving the existing business. This was discussed at the 2024 Bank of America European Autos and Future Car Virtual Conference.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 2:40 pm

INTC

QCOM

Intel shares are experiencing an uptick due to speculation that Qualcomm is considering a takeover of the company.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 2:37 pm

SNY

Sanofi is considering options for its consumer business, including a spin-off, IPO, or sale, while aiming to retain a stake. An update is expected by the Q3 conference call. The company is not pursuing a 'me-too' GLP-1 obesity drug.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 2:37 pm

PRGS

Progress Software Corporation (NASDAQ:PRGS) is set to release its Q3 earnings, with analysts expecting an EPS of $1.14 and revenue of $175.94 million. The company recently announced an $875 million acquisition of ShareFile. Analysts have varied ratings, with price targets ranging from $55 to $68.

Portfolio Pulse from Avi Kapoor

September 23, 2024 | 1:57 pm

INTC

QCOM

Qualcomm's potential acquisition of Intel could face antitrust challenges, as it would create a major player in the chip industry. The deal could help Qualcomm diversify but may also burden it with Intel's struggling semiconductor unit. Intel's stock rose on the news, while Qualcomm's fell.

Portfolio Pulse from Benzinga Neuro

September 23, 2024 | 1:49 pm