Streetbeat News

Acquisitions Mergers

COP

TTE

ConocoPhillips (COP) is exercising its preemption right to purchase the remaining 50% interest in Surmont from TotalEnergies EP Canada Ltd. for approximately $3 billion. The transaction is expected to close in the second half of 2023 and will add approximately $600 million of annual free cash flow in 2024.

Portfolio Pulse from Happy Mohamed

May 26, 2023 | 4:23 pm

BG

GLNCY

Bunge Ltd (NYSE:BG) and Glencore Plc's (OTC:GLNCY) Viterra grains division are reportedly in talks regarding a merger. The potential deal, valued at around $25 billion, would require approval from antitrust authorities due to significant overlap in locations.

Portfolio Pulse from Akanksha Bakshi

May 26, 2023 | 3:55 pm

BLK

XOM

Four international groups, including BlackRock, are competing to purchase Exxon Mobil's majority stake in an LNG terminal offshore Italy. The deal could value the terminal at nearly $881 million.

Portfolio Pulse from Anusuya Lahiri

May 26, 2023 | 3:51 pm

PRXTF

Pure Extracts Technologies Corp. has entered into a definitive business combination agreement with PL Healthcare Management Ltd. and will acquire all of its issued and outstanding shares. Following the transaction, Pure Extracts plans to utilize cannabis biomass produced by PLM and supply its extracted cannabis products to PLM's clients.

Portfolio Pulse from Vuk Zdinjak

May 26, 2023 | 3:01 pm

ATVI

CMCSA

NTDOY

TTWO

WBD

Comcast CEO Brian Roberts is expected to make a major move in gaming acquisitions and streaming expansion. Analysts predict potential deals with Nintendo, Take-Two Interactive, and Activision Blizzard. A merger with Warner Bros. Discovery could boost Comcast's streaming presence, but regulatory hurdles make gaming more attractive.

Portfolio Pulse from Anusuya Lahiri

May 26, 2023 | 2:22 pm

XOM

Four investors are competing to acquire a majority stake in Italy's Adriatic LNG terminal as Exxon Mobil (XOM) sells its stake. The deal could value Adriatic LNG at around €800 million.

Portfolio Pulse from Happy Mohamed

May 26, 2023 | 2:14 pm

FRCB

JPM

JPMorgan Chase & Co (NYSE:JPM) has decided not to offer jobs to around 1,000 First Republic Bank (OTC:FRCB) employees after the takeover. The bank has offered full-time or transitional roles to about 85% of the nearly 7,000 workers still working at First Republic.

Portfolio Pulse from Akanksha Bakshi

May 26, 2023 | 2:11 pm

SDA

SunCar Technology shares are trading lower due to volatility after the company's combination with Goldenbridge Acquisition, making it a publicly-traded company.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 2:00 pm

YGMZ

MingZhu Logistics (NASDAQ:YGMZ) has entered into a Share Purchase Agreement to acquire 100% equity of Alliance Liquor Investment. MingZhu will issue 4,569,095 ordinary shares upon closing, and Alliance Liquor's shareholder will receive additional earnout payments if certain net income targets are met.

Portfolio Pulse from Happy Mohamed

May 26, 2023 | 1:07 pm

MDT

PODD

Medtronic has agreed to acquire Korea-based EOflow, manufacturer of the EOPatch insulin delivery device, for $738 million. Analysts at William Blair believe this acquisition will not impact Insulet Corporation's Omnipod insulin pump in the near or medium term.

Portfolio Pulse from Vandana Singh

May 26, 2023 | 12:50 pm