Streetbeat News

Acquisitions Mergers

SNDL

Sundial Growers (SNDL) has amended the terms of its original plan of arrangement in the Nova Cannabis transaction, which may affect the deal's outcome.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 1:21 pm

REUN

Reunion Neuroscience announced a $13.1 million take-private transaction with MPM BioImpact, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 1:19 pm

CLSK

CleanSpark has purchased 12,500 Antminer S19 XP Bitcoin miners for $40.5 million, expanding its mining capacity and increasing its hash rate.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 1:03 pm

MO

Altria Group has completed its acquisition of NJOY Holdings and updated its 2023 full-year earnings guidance to $4.89-$5.03 EPS, down from the previous estimate of $5.05. The company plans to invest in the US commercialization of NJOY ACE, the only pod-based e-vapor product with FDA marketing authorization.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 12:53 pm

IEF

MDT

MRK

WMB

CNBC's 'Halftime Report Final Trades' featured recommendations from financial experts, including iShares 7-10 Year Treasury Bond ETF (IEF), Medtronic (MDT), Merck (MRK), and Williams Companies (WMB). Medtronic recently issued weak guidance and announced the acquisition of EOFlow, while Merck announced positive data from a Phase 3 trial for advanced renal cell carcinoma treatment. Williams Companies posted better-than-expected Q1 results.

Portfolio Pulse from Priya Nigam

June 01, 2023 | 12:21 pm

MEIP

MEI Pharma's Board of Directors has rejected an unsolicited proposal from a group represented by Anson Advisors Inc. and Cable Car Capital LLC to acquire all outstanding shares of MEI for not less than $8.00 in cash per share. The Board concluded that the proposal undervalues the company and is not superior to the proposed transaction with Infinity Pharmaceuticals.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 12:17 pm

REUN

Reunion Neuroscience announces a $13.1M take-private transaction with MPM BioImpact. Shareholders will receive $1.12 per share in cash, a 43.1% premium to the 30-day volume weighted average price. Reunion also presented positive Phase 1 results at the American Society of Clinical Psychopharmacology Annual Meeting, enabling Phase 2 advancement in 2H 2023.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 11:31 am

CEG

NRG

Constellation is acquiring NRG Energy's 44% ownership stake in the South Texas Project Electric Generating Station, a 2,645-megawatt nuclear plant, for $1.75 billion. The effective purchase price is $1.4 billion after considering tax benefits.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 10:53 am

NVS

PHAR

Pharming has agreed to sell its Rare Pediatric Disease Priority Review Voucher (PRV) to Novartis Pharma for a one-time payment of approximately $21.1 million.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 9:29 am

NVS

PHAR

Pharming Group has entered into an agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) to Novartis Pharma for a one-time payment of $21.1 million.

Portfolio Pulse from Charles Gross

June 01, 2023 | 9:25 am