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Acquisitions Mergers

LLAP

LMT

Terran Orbital Corporation (NYSE:LLAP) shares plummeted after announcing a buyout deal with Lockheed Martin Corporation (NYSE:LMT) for $450 million. Lockheed Martin will acquire Terran Orbital for $0.25 per share in cash and retire its existing debt. The transaction includes a new $30 million working capital facility and is expected to close in Q4 2024. Terran Orbital will continue to operate as a commercial supplier post-acquisition.

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 3:03 pm

DECK

Lolë Brands has expanded its eco-conscious offerings by acquiring the outdoor lifestyle footwear brand Sanuk from Deckers Brands.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 3:01 pm

ASUR

Asure Software has acquired HireClick to enhance its recruitment capabilities for small and mid-sized businesses, strengthening its cloud-based human capital management solutions.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:55 pm

ACRHF

CGC

Acreage Holdings reported a 33% year-over-year revenue decline for Q2 2024, citing liquidity constraints. Despite a net loss of $24.1 million, the company is focusing on strategic growth in Ohio and other key states. Acreage is also advancing its acquisition by Canopy USA, expected to close in the first half of 2025.

Portfolio Pulse from Patricio Liddle

August 15, 2024 | 2:52 pm

LLAP

LMT

Terran Orbital shares are trading lower after Lockheed Martin signed a definitive agreement to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:40 pm

BLK

STT

Vanguard, BlackRock, and State Street have made significant purchases in Trump Media & Technology Group ahead of its inclusion in the Russell Index. Vanguard acquired 2.9 million shares, BlackRock bought 2.2 million shares, and State Street purchased 440,000 shares. Other investors include Greenwich Wealth Management with 350,000 shares and Hudson Bay Capital adding 52,000 shares.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:59 pm

TSM

TSMC is set to increase its CoWoS fab capacity to 60,000 wafers per month by 2025, following the acquisition of an Innolux 5.5G LCD factory. This capacity is expected to rise to 70,000-80,000 units in 2026.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:14 pm

GILD

The FDA has granted accelerated approval for Gilead Sciences' (NASDAQ:GILD) drug Livdelzi (seladelpar) for treating primary biliary cholangitis (PBC). This approval follows Gilead's $4.3 billion acquisition of CymaBay Therapeutics. The approval is based on Phase 3 study data showing significant improvements in patients. However, continued approval is contingent on further clinical trials. Gilead's stock was down 0.04% in premarket trading.

Portfolio Pulse from Vandana Singh

August 15, 2024 | 1:09 pm

BX

Blackstone has acquired a majority stake in M3, a leading hotel accounting software and services provider. The investment, made in partnership with the Asian American Hotel Owners Association (AAHOA), aims to accelerate M3's growth and product expansion.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:05 pm

SGD

Safe and Green Development (SGD) has expanded its joint venture in Edinburg, Texas by acquiring 22 additional single-family lots. This acquisition builds on a previous one and is expected to close within 60 days. The company aims to deliver all homes by the end of Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:04 pm