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Acquisitions Mergers

INTC

Intel has been awarded up to $3 billion by the Biden-Harris Administration under the CHIPS and Science Act for the Secure Enclave program. This initiative aims to expand the trusted manufacturing of semiconductors for the U.S. government, enhancing the domestic chip supply chain.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 6:03 pm

AADR

BA

CBSE

ERJ

Boeing has settled a dispute with Embraer by agreeing to pay $150 million, following the termination of a $4.2 billion deal in 2020. Embraer's shares fell 3.69% after the announcement. The company also recently secured a contract to sell aircraft to the Uruguayan Air Force.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 5:54 pm

OPTHF

PBM

Psyence Biomedical Ltd. (NASDAQ:PBM) is advancing its psychedelic-based mental health solutions with a Phase IIb trial in Australia and the acquisition of Clairvoyant. The company is also partnering with Optimi Health (OTC:OPTHF) for psilocybin supply, aiming for significant data readouts in 2025.

Portfolio Pulse from Juan Spínelli

September 16, 2024 | 5:42 pm

APO

BHC

BLCO

Bausch + Lomb Corp (BLCO) is considering a sale to address separation issues from its parent, Bausch Health Companies (BHC), which faces significant debt. The potential sale aims to alleviate creditor concerns and could increase BLCO's stock value. BHC's financial stability is challenged by its debt and the impending loss of patent protection for its lead drug, Xifaxan.

Portfolio Pulse from Vandana Singh

September 16, 2024 | 5:22 pm

REE

REE Automotive Ltd. (NASDAQ:REE) has announced a strategic alliance with Motherson Group, securing a $45.35 million investment through a direct offering. This partnership will enhance REE's production capabilities and support its expansion in the electric vehicle market.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 4:44 pm

EW

Traders are circulating unconfirmed blog comments suggesting that Edwards Lifesciences is involved in takeover discussions. This has led to speculation about potential M&A activity involving the company.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:37 pm

GFR

Greenfire Resources shares surged following the announcement that Waterous Energy Fund will acquire nearly 30 million shares for CAD$327.77 million.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:30 pm

GFR

Waterous Energy Fund has agreed to acquire 29,988,854 shares of Greenfire Resources Ltd. for CAD$10.932 per share, totaling approximately CAD$327.8 million. This acquisition represents 43.3% of Greenfire's outstanding shares. The transaction is subject to customary closing conditions and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:15 pm

CACI

CACI International, Inc. (NYSE:CACI) is acquiring Azure Summit Technology for $1.275 billion to enhance its defense capabilities, particularly in RF technology. The acquisition is expected to provide a $194 million tax benefit over 15 years. CACI shares rose 3.18% following the announcement.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 4:06 pm

SBT

Sterling Bancorp, Inc. (NASDAQ:SBT) shares fell nearly 20% after announcing a deal to sell Sterling Bank to EverBank Financial Corp. for $261 million. The company plans to dissolve post-sale, delist from Nasdaq, and deregister. The deal awaits regulatory and shareholder approval, expected to close in Q1 2025.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 3:35 pm