Streetbeat News

Acquisitions Mergers

RILY

B. Riley Financial's stock surged as Oaktree Capital is in talks to acquire a majority stake in two of its units. The deal values the units at $380 million, but it's not finalized yet. B. Riley's shares are at a 10-year low due to various challenges, including a suspended dividend and an SEC investigation.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2024 | 5:36 pm

GRFS

Grifols shares are trading higher following reports that Brookfield is seeking debt financing to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 4:32 pm

CRC

California Resources Corp (NYSE:CRC) completed a $2.1 billion merger with Aera Energy. Bank of America Securities upgraded CRC's rating from Neutral to Buy, raising the price target from $57 to $65, citing potential in carbon capture and storage (CCS) amid growing power demand.

Portfolio Pulse from Priya Nigam

August 21, 2024 | 4:19 pm

BAC

BAM

GRFS

UBS

Brookfield is reportedly in discussions with banks, including UBS and Bank of America, to secure funding for a takeover bid of Grifols.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 4:16 pm

BBAI

EYEN

M

PAGS

SDIG

SMFL

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all experiencing declines. BigBear.ai shares surged 35% after a subcontractor award, while Smart for Life shares rose 96% due to acquisition talks. Stronghold Digital Mining shares increased 68% following a merger agreement. Eyenovia shares fell 37% after a public offering announcement, Macy's dropped 13% due to weak sales, and PagSeguro Digital fell 12% after second-quarter results.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 4:15 pm

NVDA

ON

SMH

SOXX

ON Semiconductor is diversifying its supply chain with a new $2 billion facility in the Czech Republic and expanding in South Korea to mitigate risks from Chinese chip suppliers. Despite a recent revenue decline, the stock shows a bullish trend above its 200-day moving average.

Portfolio Pulse from Anusuya Lahiri

August 21, 2024 | 4:14 pm

CLOE

DGLY

Clover Leaf and Digital Ally have postponed their special stockholders meeting to August 27, 2024, to vote on a proposed merger with Kustom Entertainment. The redemption deadline has been extended to August 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 4:11 pm

RILY

Oaktree Capital is reportedly close to acquiring a majority stake in two units of B. Riley Financial. This move could impact B. Riley's operations and financial structure.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 3:56 pm

BITF

SDIG

Bitfarms Ltd. (NASDAQ:BITF) is acquiring Stronghold Digital Mining, Inc. (NASDAQ:SDIG) in a $175 million deal, including $50 million in assumed debt. The merger, expected to close in Q1 2025, will expand Bitfarms' operational capacity and energy portfolio, reflecting a trend of consolidation in the Bitcoin mining industry.

Portfolio Pulse from Murtuza Merchant

August 21, 2024 | 3:53 pm

GRFS

Brookfield Asset Management is negotiating $10.6 billion in debt financing for a potential acquisition of Grifols SA, a Spanish pharmaceutical company. This move could lead to significant financial restructuring and has already impacted Grifols' bond and stock prices.

Portfolio Pulse from Vandana Singh

August 21, 2024 | 3:32 pm