Streetbeat News

Acquisitions Mergers

CYTH

RFL

Rafael Holdings and Cyclo Therapeutics have agreed to merge, focusing on Trappsol Cyclo for Niemann-Pick Disease Type C1. Rafael will issue Class B shares to Cyclo's shareholders, valuing Cyclo shares at $0.95 each.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 10:52 am

PARA

PARAA

Paramount Global shares rose in pre-market trading after Edgar Bronfman Jr. increased his acquisition bid to $6 billion. This bid, which includes $3.2 billion for debt settlement or share acquisition, challenges a planned merger with Skydance Media.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 10:48 am

AAP

CG

Advance Auto Parts has agreed to sell its Worldpac business to Carlyle for $1.5 billion in cash. Worldpac generated $2.1 billion in revenue and $100 million in EBITDA over the past year. Advance Auto Parts expects net proceeds of $1.2 billion after taxes and fees.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 10:16 am

PARA

Paramount Global has extended the 'go shop' period for an acquisition proposal from Edgar Bronfman Jr. and a consortium of investors. This extension allows the consortium more time to negotiate a potential acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 7:46 am

YOTA

Yotta Acquisition and DRIVEiT Financial Auto Group have signed a definitive merger agreement. This merger is expected to impact Yotta Acquisition's business operations and financial outlook.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 7:19 am

BWLP

BW LPG reported a slight decrease in Q2 EPS to $0.58 from $0.59 YoY, but profit after tax increased to $84.9M from $78.2M YoY. The company declared a Q2 2024 cash dividend of $0.58 per share and announced the acquisition of 12 VLGCs from Avance Gas for $1,050 million. BW LPG also completed its redomiciliation to Singapore and noted increased trading volume due to its US listing.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 6:17 am

ALE

ALLETE shareholders have approved a proposed transaction with CPP Investments and GIP, with the transaction expected to close in mid-2025.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 8:58 pm

AMZN

Jeff Bezos is not planning to buy the Boston Celtics, despite rumors. However, he may be interested in purchasing an NFL team, such as the Seattle Seahawks. Bezos has been selling Amazon shares, possibly to fund such a purchase. His potential ownership of an NFL team could raise questions about conflicts of interest due to Amazon's media rights deals with the NFL and NBA.

Portfolio Pulse from Chris Katje

August 21, 2024 | 8:45 pm

AMD

AMD shares are trading higher after announcing a definitive agreement to acquire ZT Systems, expected to close in the first half of 2025. This acquisition aligns with AMD's strategy to invest in AI technology and is expected to be accretive by the end of 2025. Goldman Sachs views this as a significant step for AMD in the AI data center market, setting a 12-month price target of $175.

Portfolio Pulse from Henry Khederian

August 21, 2024 | 7:32 pm

BBAI

EYEN

M

PAGS

PRCT

SDIG

TJX

U.S. stocks rose with the Nasdaq gaining 0.5%. TJX Companies reported strong earnings, beating estimates and raising its fiscal 2025 outlook. BigBear.ai, PROCEPT BioRobotics, and Stronghold Digital Mining saw significant stock price increases, while Eyenovia, Macy's, and PagSeguro Digital experienced declines.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 6:43 pm