Streetbeat News

Acquisitions Mergers

ENLC

OKE

EnLink Midstream shares rose following the announcement that ONEOK will acquire the interest currently owned by Global Infrastructure Partners.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:35 am

AMD

BABA

MU

NVDA

China is investing over $6 billion in data centers in response to the US semiconductor embargo, which affects companies like Nvidia, AMD, and Micron. Despite the embargo, Nvidia's revenue remains strong, while Alibaba's AI ambitions are impacted.

Portfolio Pulse from Anusuya Lahiri

August 29, 2024 | 11:26 am

SNDL

SNDL's stalking horse bid for Indiva's business and assets has been successful. The acquisition includes a facility in London, Ontario, and a portfolio of brands, enhancing SNDL's product offerings in the Canadian cannabis market. The transaction is expected to close in the fourth quarter.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 11:22 am

X

Nippon Steel plans an additional $1.3 billion investment in U.S. Steel plants to support its $14 billion acquisition bid, facing resistance from U.S. unions and politicians. The investment aims to extend the operational life of the plants, but the deal faces national security concerns.

Portfolio Pulse from Benzinga Neuro

August 29, 2024 | 9:35 am

CASH

Pathward has divested its commercial insurance premium finance business to AFS IBEX for $648.3 million. The transaction is expected to be neutral to fiscal 2024 net income but accretive in the future as capital is redeployed.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 7:01 am

AWK

Pennsylvania American Water and Towamencin Township have decided to terminate the sale of the township's wastewater system due to regulatory changes. Initially, NextEra Water was set to purchase the system, but they exited the transaction, and Pennsylvania American Water stepped in as the buyer. The agreement is now being terminated.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 6:57 am

ENLC

OKE

ONEOK is set to acquire Medallion and a majority stake in EnLink for $5.9 billion, enhancing its Permian Basin platform. The deal is expected to immediately boost EPS and FCF, provide synergies, and maintain strong credit ratings. ONEOK plans a tax-free acquisition of EnLink's publicly held interests post-transaction.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 6:46 am

CMG

SBUX

Chipotle Mexican Grill has expedited its CFO transition following CEO Brian Niccol's move to Starbucks. Adam Rymer will take over as CFO on Oct. 1, earlier than planned. The transition comes amid leadership changes and scrutiny from the NLRB over labor issues. Despite challenges, some experts see Chipotle as a strong investment opportunity.

Portfolio Pulse from Benzinga Neuro

August 29, 2024 | 3:23 am

AAPL

GOOGL

META

MSFT

OpenAI is set to raise billions in a new venture capital round, boosting its valuation to over $100 billion. Thrive Capital is leading the investment, with Microsoft expected to participate. OpenAI's ChatGPT continues to dominate the AI space, competing with Alphabet's Anthropic and Meta's AI efforts.

Portfolio Pulse from Anthony Noto

August 28, 2024 | 10:13 pm

X

Nippon Steel plans additional investments at Mon Valley Works and Gary Works as part of its acquisition of US Steel. These investments will extend beyond 2026 and are in addition to a previously announced $1.4 billion capital commitment. The acquisition is expected to close in the second half of 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 9:04 pm