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Acquisitions Mergers

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VECT

Ironwood Pharmaceuticals has agreed to acquire VectivBio Holding for $17 per share in an all-cash transaction, valuing the deal at approximately $1 billion. The acquisition is expected to close in the second half of the year.

Portfolio Pulse from Adam Eckert

May 22, 2023 | 2:18 pm

XOM

Exxon Mobil has purchased drilling rights to a large area of land in Arkansas for lithium production, a key ingredient in batteries for electric vehicles and electronics. The acquisition signals Exxon's preparation for a future less reliant on gasoline and diversifies its portfolio.

Portfolio Pulse from Akanksha Bakshi

May 22, 2023 | 2:07 pm

CVX

PDCE

Chevron Corporation (NYSE:CVX) has agreed to acquire PDC Energy, Inc. (NASDAQ:PDCE) in an all-stock deal worth $7.6 billion, including debt. The acquisition will add $1 billion to annual free cash flow and increase Chevron's proved reserves by 10%.

Portfolio Pulse from Nabaparna Bhattacharya

May 22, 2023 | 1:59 pm

GRIL

Muscle Maker Inc. (NASDAQ:GRIL) announces its subsidiary Sadot LLC's agreement to purchase 4,942 acres of agricultural land in Zambia for $8.5 million. The acquisition is expected to diversify MMI's holdings and accelerate Sadot's growth in the agri-commodity space.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:50 pm

GHL

MFG

Mizuho Financial Group (MFG) announced it will acquire Greenhill & Co (GHL) for $15 per share in an all-cash transaction, valuing the company at approximately $550 million. Greenhill's stock hit new 52-week highs following the announcement.

Portfolio Pulse from Adam Eckert

May 22, 2023 | 1:47 pm

EVC

Entravision (NYSE:EVC) has acquired BCNMonetize, a global mobile app marketing solutions company based in Barcelona. The acquisition expands Entravision's presence in Spain and Turkey and strengthens its service offerings in Europe and the Middle East.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:29 pm

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VWAGY

Volkswagen AG has completed the sale of its Russian operations, including the assembly plant in Kaluga, to Art-Finance LLC, supported by Russian Dealer Avilon. The deal is valued at approximately $135 million. Volkswagen joins other European carmakers like Mercedes-Benz and Renault in exiting Russia.

Portfolio Pulse from Shivani Kumaresan

May 22, 2023 | 1:26 pm

GIC

Global Industrial Company (NYSE:GIC) has acquired Indoff for $69.2 million in cash, funded from its existing credit facility and cash on hand. Indoff generated revenue of approximately $180 million in 2022. The acquisition aims to diversify GIC's customer base and provide a new sales channel.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:24 pm

AVIR

Tang Capital Partners and Concentra have sent an acquisition proposal to Atea Pharmaceuticals, offering to acquire all of its outstanding common stock.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:21 pm

DLTR

IRWD

LDOS

MU

RKT

Micron Technology shares fell 4% due to Chinese cybersecurity concerns, while Rocket Companies may benefit from a potential pause in interest rate hikes. Dollar Tree is set to report quarterly results, Leidos Holdings remains unaffected by NASA's lunar lander contract, and Ironwood Pharmaceuticals offered to acquire VectivBio for $1 billion.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:15 pm