Streetbeat News

Acquisitions Mergers

DM

NNDM

SSYS

Stratasys stock is trading higher after Nano Dimension made an unsolicited special tender offer to acquire 53%-55% ownership of Stratasys for $18.00 per share. Stratasys also agreed to merge with Desktop Metal in an all-stock transaction valued at approximately $1.8 billion.

Portfolio Pulse from Anusuya Lahiri

May 25, 2023 | 2:36 pm

VSAT

Viasat announced that its acquisition of Inmarsat is proceeding to close, marking a significant milestone in the satellite communications industry.

Portfolio Pulse from Benzinga Newsdesk

May 25, 2023 | 2:26 pm

CS

UBS

VGK

UBS has received EU antitrust approval for its takeover of Credit Suisse, paving the way for the merger of the two Swiss banking giants.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 2:13 pm

KBNT

Kubient and Adomni announced a definitive merger agreement, causing Kubient shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

May 25, 2023 | 1:29 pm

ISIG

Insignia Systems (NASDAQ: ISIG) has agreed to sell its in-store marketing business to Park Printing for a gross cash purchase price of $3.5 million. The deal is expected to close in the second half of 2023.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 1:21 pm

BCTX

BriaCell Therapeutics Corp. has entered into an arrangement agreement with BriaPro Therapeutics Corp. to spin out certain pre-clinical pipeline assets, including Bria-TILsRx™ and PKCδ inhibitors. BriaCell shareholders will receive one SpinCo share and one new BriaCell share for each BriaCell share held.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 1:07 pm

MDT

Medtronic reported Q4 FY23 sales of $8.54 billion, up 5.6% Y/Y, beating expectations. The company announced a dividend increase to $0.69/share and expects FY24 organic revenue growth of 4.5%-4.5%. Medtronic has agreed to acquire Korea-based EOFlow Co Ltd for $738 million, with the deal expected to close in H2 2023.

Portfolio Pulse from Vandana Singh

May 25, 2023 | 12:57 pm

CVX

PDCE

Chevron plans to sell its oil and gas assets in Congo for up to $1.5 billion to focus on more profitable production. The company recently signed a deal to acquire PDC Energy for $7.6 billion, including debt.

Portfolio Pulse from Nabaparna Bhattacharya

May 25, 2023 | 12:50 pm

DM

SSYS

Desktop Metal (DM) stock is trading higher after announcing a $1.8 billion all-stock merger with Stratasys (SSYS). The combined company is expected to generate $50 million in annual cost synergies by 2025 and $1.1 billion in revenue.

Portfolio Pulse from Anusuya Lahiri

May 25, 2023 | 12:44 pm

ARVL

KCGI

EV startup Arrival expects its merger with Kensington Capital Acquisition Corp V and subsidies from the US Inflation Reduction Act (IRA) to drive business growth. The merger will provide Arrival with up to $283 million to build a factory in North Carolina for its XL van, which qualifies for IRA tax credits up to $40,000.

Portfolio Pulse from Lekha Gupta

May 25, 2023 | 12:30 pm