Streetbeat News

Acquisitions Mergers

NPSCY

X

The Biden administration is set to block Nippon Steel's $15 billion acquisition of U.S. Steel due to national security concerns. United Steelworkers President David McCall criticized U.S. Steel CEO David Burritt and suggested a leadership change to gain union support. The deal faces opposition from both political parties, and Nippon Steel has pledged additional investments to win approval.

Portfolio Pulse from Kaustubh Bagalkote

September 06, 2024 | 3:18 am

DIS

NTDOY

PARA

SONY

Sony's CFO Hiroki Totoki admitted that the company lacks enough homegrown intellectual properties (IP), posing a challenge against rivals like Nintendo and Disney. Despite successful franchises like The Last of Us, Sony's transmedia offerings are sparse. The company aims to leverage technology and creativity, with potential growth in the anime sector through Crunchyroll.

Portfolio Pulse from Franca Quarneti

September 05, 2024 | 9:10 pm

AGR

Avangrid has received FERC approval for Iberdrola's acquisition of the remaining 18.4% of its shares. The transaction is expected to close in Q4 2024, pending further approvals.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 9:04 pm

CLF

Cleveland-Cliffs supports President Biden's decision to block the foreign takeover of U.S. Steel by Japan's Nippon Steel, emphasizing the importance of maintaining domestic control over critical steel production.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:49 pm

CRM

Salesforce has agreed to acquire Own Company, a data protection and management solutions provider, for approximately $1.9 billion in cash. The transaction is expected to close in the fourth quarter of Salesforce's fiscal year 2025, with no anticipated changes to its financial guidance.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:38 pm

CRM

Salesforce Inc. is reportedly in advanced talks to acquire the startup Own for approximately $2 billion. The deal could be announced soon, indicating Salesforce's strategic move to expand its offerings.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:31 pm

UUUU

Energy Fuels has received shareholder and regulatory approval for its acquisition of Base Resources. This acquisition is expected to transform Energy Fuels into a leading producer of rare earth elements, titanium, and zirconium, while maintaining its status as a top U.S. uranium producer.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:26 pm

AWK

Indiana American Water, a subsidiary of American Water Works Company, has received approval from the Indiana Utility Regulatory Commission for a $45 million acquisition of Silver Creek Water Corporation. This acquisition will expand their service to 8,000 new customers in Southern Indiana, with the closing expected by mid-November.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 8:26 pm

SLX

X

The Biden administration plans to veto Nippon Steel's $14.9 billion acquisition of U.S. Steel, citing national security concerns. This move is seen as politically motivated, aiming to gain labor union votes in Pennsylvania. U.S. Steel's stock has dropped over 16% since the news, while Jefferies maintains a Buy rating but lowers the price target. The VanEck Steel ETF also saw a slight decline.

Portfolio Pulse from Natan Ponieman

September 05, 2024 | 6:54 pm

YEXT

Yext, Inc. (NYSE:YEXT) has been upgraded to Buy by Needham analyst Ryan MacDonald, with a price target of $8. The upgrade follows better-than-expected Q2 EPS results and positive FY25 revenue guidance. The Hearsay acquisition is expected to drive margin expansion despite initial dilution, and cross-sell opportunities could boost growth in FY26.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2024 | 6:37 pm