Streetbeat News

Acquisitions Mergers

SBFG

Marblehead Bancorp will merge with SB Financial Group, and Marblehead Bank will merge into State Bank. The transaction is valued at $5 million, with Marblehead Bancorp shareholders receiving $196.31 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:18 pm

NKE

SBUX

Nike Inc (NYSE:NKE) shares surged in after-hours trading following the disclosure that Bill Ackman's Pershing Square has acquired a new stake in the company. Pershing Square now owns approximately 3.04 million shares of Nike, valued at around $230 million. This move comes amid speculation that Nike could be a target for activist investors, with unconfirmed reports suggesting former Deckers CEO Dave Powers might take over at Nike.

Portfolio Pulse from Adam Eckert

August 14, 2024 | 9:08 pm

SPRC

SciSparc shares are trading higher following court approval to convene a shareholder meeting to approve a merger with AutoMax.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:07 pm

DRQ

GAMI

OIH

GAMCO Asset Management opposes Dril-Quip's proposed merger with Innovex Downhole Solutions, scheduled for a vote on September 5, 2024. GAMCO, which owns 8.32% of Dril-Quip's shares, intends to vote against the merger. Since the merger announcement, Dril-Quip's stock has declined by 37.5%, compared to an 8.3% decline in the VanEck Oil Services ETF.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:03 pm

SPRC

SciSparc announced that a court has approved AutoMax's petition to convene special class meetings of shareholders to approve their merger. This is a significant step forward in the merger process between SciSparc and AutoMax.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:01 pm

AIHS

Senmiao Technology announced that its unit has entered into an acquisition agreement with Jiangsu Yuelaiyuexing Technology and others. The acquisition involves debt assumption but no cash consideration.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:56 pm

HEI

Heico shares are trading higher after Berkshire Hathaway added a stake in the company.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:50 pm

MSGS

OWL

The Tampa Bay Lightning could set a new record for the most expensive NHL team sale at $2 billion. The sale involves Doug Ostrover, co-founder and CEO of Blue Owl Capital (NYSE:OWL). Current owner Jeff Vinik will retain a significant ownership stake and operational control. The sale could impact Blue Owl Capital and Madison Square Garden Sports (NYSE:MSGS), which owns the New York Rangers.

Portfolio Pulse from Chris Katje

August 14, 2024 | 7:34 pm

K

Mars is set to acquire Kellanova (NYSE:K) for $36 billion, or $83.50 a share. This acquisition will add brands like Pop-Tarts, Eggo Waffles, and Pringles to Mars' portfolio, potentially making it the third-largest American private company by revenue. Kellanova reported around $13 billion in revenue last year, while Mars' annual revenue was around $45 billion.

Portfolio Pulse from Aaron Bry

August 14, 2024 | 6:43 pm

CMG

SBUX

Chipotle CEO Brian Niccol is leaving to become the chairman and CEO of Starbucks. Analysts view this as a positive move for Starbucks and believe Chipotle remains in good hands. Various analysts have provided their ratings and price targets for both companies.

Portfolio Pulse from Adam Eckert

August 14, 2024 | 6:34 pm