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Acquisitions Mergers

IYE

XLE

XOM

Exxon Mobil plans to sell $1 billion worth of conventional oil assets in the Permian Basin to focus on shale production after acquiring Pioneer Natural Resources. The company aims to produce 4.3 million barrels of oil and gas daily this year. Investors can gain exposure to Exxon Mobil through ETFs like XLE and IYE.

Portfolio Pulse from Lekha Gupta

August 28, 2024 | 10:43 am

BSIIU

Black Spade Acquisition II Co has priced its initial public offering (IPO) at $150 million, offering 15,000,000 units at $10 per unit.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 6:54 am

ETR

NLR

SMR

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URA

The Palisades nuclear power plant in Michigan is set to be the first U.S. plant to be recommissioned after being decommissioned, driven by the growing demand for carbon-free energy. Entergy Corp previously owned the plant, which was sold to Holtec International. The U.S. Department of Energy is providing $1.52 billion in loans for its restoration. The AI revolution is increasing electricity demand, with nuclear energy gaining renewed interest. The Biden administration is promoting nuclear power to reduce fossil fuel dependency. The VanEck Uranium and Nuclear Energy ETF and Global X Uranium ETF have shown recent gains.

Portfolio Pulse from Natan Ponieman

August 27, 2024 | 9:43 pm

ACAC

Acri Capital Acquisition Corp (NASDAQ:ACAC) announced the approval of its business combination with Foxx Development Inc., a consumer electronics and IoT solutions company. The approval was granted by 96.9% of the votes at a special stockholders meeting.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 9:20 pm

TPL

Texas Pacific Land Corporation has acquired Permian mineral interests and surface acreage for $169 million in cash. These acquisitions are expected to add high-quality assets that will generate attractive returns.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:17 pm

CIFR

Cipher Mining has acquired a new 300 MW data center site in West Texas for $67.5 million, with an additional variable fee of $3 per MWh. This expansion is part of Cipher Mining's growth strategy in the cryptocurrency mining sector.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:11 pm

SVRE

SaverOne has entered into a strategic asset purchase agreement to acquire Micronet's Generation-3 camera products and intellectual property. This deal, structured as an earn-out with future royalty payments based on sales, aims to expand SaverOne's portfolio in transportation safety solutions. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:04 pm

PM

Philip Morris International's affiliate, Swedish Match, is set to invest $232 million in Kentucky, creating 450 jobs. This expansion highlights PMI's growth strategy and commitment to the US market.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 7:34 pm

AMZN

Amazon is reportedly in discussions to sell MGM Alternative, the production group behind popular shows like 'The Voice' and 'Vanderpump Rules'. This move could impact Amazon's content strategy and financials.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 7:28 pm

ABBV

BMY

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NBIX

The FDA is expected to approve a new schizophrenia drug from Karuna Therapeutics, recently acquired by Bristol Myers Squibb, on September 26. This innovative treatment aims to reduce severe side effects common in existing medications. The development marks a significant advancement in schizophrenia treatment, a field that hasn't seen new types of drugs in over 70 years.

Portfolio Pulse from Anthony Noto

August 27, 2024 | 7:22 pm