Streetbeat News

Acquisitions Mergers

AGRO

Tether has invested $100 million to acquire a 9.8% stake in Adecoagro, marking its first venture into the agricultural sector. This move diversifies Tether's portfolio beyond its existing investments in AI, Bitcoin mining, and digital education. Tether remains a dominant player in the stablecoin market with a market cap over $118 billion.

Portfolio Pulse from Murtuza Merchant

September 09, 2024 | 12:52 pm

RIVN

VWAGY

Volkswagen's $5 billion deal with Rivian has caused frustration among employees at its software division, Cariad, as the CEO was not involved in the discussions. The joint venture aims to develop software for future cars, but has led to uncertainty within Cariad. Volkswagen faces falling demand and potential factory shutdowns, while Rivian plans to use the deal to boost production of its R2 SUV.

Portfolio Pulse from Anan Ashraf

September 09, 2024 | 12:43 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) has decided not to pursue a $10 billion oil field opportunity in Namibia, leading to a premarket share increase. The Mopane discovery, with an estimated 10 billion barrels of oil and gas, still attracts interest from other major oil companies. Meanwhile, Exxon has partnered with ADNOC for a low-carbon project in Texas.

Portfolio Pulse from Lekha Gupta

September 09, 2024 | 12:41 pm

KTRA

Kintara Therapeutics is set to hold a special meeting for stockholders to vote on a proposed merger with TuHURA Biosciences. The voting deadline is September 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:38 pm

CTLP

Cantaloupe, Inc. (NASDAQ:CTLP) has acquired SB Software Limited to enhance its operational capabilities and market reach in Europe. This strategic move aims to strengthen Cantaloupe's market leadership and support global growth and innovation.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:35 pm

RXO

UPS

RXO has announced a $350 million common stock offering to finance the acquisition of Coyote Logistics from UPS.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:19 pm

ADTX

Aditxt and Evofem Biosciences have amended their merger agreement, with Aditxt committing to provide $3 million in funding by October 2024. The transaction is expected to close in the fourth quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:17 pm

VSTS

Vestis (NYSE:VSTS) has received a preliminary inquiry from Elis SA about a potential transaction. The company is evaluating the inquiry but has not committed to any transaction or further announcements.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:17 pm

RELI

RELIW

Reliance Global Group, Inc. (NASDAQ:RELI) has revised the terms of its acquisition of Spetner Associates, reducing the upfront cash payment from $8 million to $5.5 million. The acquisition is expected to double Reliance's revenue and significantly boost EBITDA in 2024.

Portfolio Pulse from Anusuya Lahiri

September 09, 2024 | 12:17 pm

RELI

Reliance Global has confirmed that its anticipated transaction is on track to close in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 12:15 pm