Streetbeat News

Acquisitions Mergers

AVDE

AVSD

UBS

UBS Group AG reported strong Q2 FY24 earnings, with sales up 25% Y/Y to $11.9 billion, beating expectations. The Global Wealth Management division saw significant growth, and the company achieved substantial cost savings. UBS shares are trading higher, and investors can gain exposure through ETFs like AVDE and AVSD.

Portfolio Pulse from Lekha Gupta

August 14, 2024 | 9:51 am

K

Mars is expected to acquire Kellanova for $83.50 per share in cash, valuing the deal at approximately $30 billion. This acquisition includes well-known brands such as Cheez-It and Eggo.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:37 am

ARM

INTC

Intel Corp. (NASDAQ: INTC) has sold its stake in Arm Holdings (NASDAQ: ARM) as part of its restructuring efforts to focus on liquidity and efficiency. The sale brought in approximately $146.7 million. Intel is also cutting 15% of its workforce and has suspended its dividend. Despite these moves, Intel's stock has declined significantly this year.

Portfolio Pulse from Benzinga Neuro

August 14, 2024 | 7:26 am

FNV

NEM

Franco-Nevada's subsidiary has acquired a 1.8% net smelter return royalty on Newmont Corporation's Yanacocha mine and adjacent properties in Peru from Compañía de Minas Buenaventura S.A.A. and its subsidiary.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 10:14 pm

ALL

Allstate has agreed to sell its employer voluntary benefits business to StanCorp Financial Group for $2.0 billion. The sale is expected to generate a gain of about $600 million and increase deployable capital by $1.6 billion. However, Allstate's adjusted net income return on equity will decline by about 100 basis points following the sale, which is expected to close in the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 10:12 pm

BITF

RIOT

Riot Platforms has increased its beneficial ownership in Bitfarms to 18.9% by acquiring an additional 1 million common shares. This acquisition raises Riot's stake from 18.68% to 18.90% of Bitfarms' issued and outstanding common shares.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 9:58 pm

NAVI

Navient is in active discussions about potentially selling its Government Services businesses. The financial impact of this sale is currently uncertain. The book value of the Government Services business as of June 30, 2024, was approximately $192 million, including $138 million of goodwill and acquired intangible assets.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:24 pm

NAVI

Navient has agreed to sell its Healthcare Services business to CorroHealth for $365 million in cash. Approximately 950 employees will join CorroHealth. The transaction is expected to close by the end of September, subject to certain conditions. The net gain from the sale and the final financial statement impact are yet to be determined.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:23 pm

BSLK

GAMC

Bolt Threads has completed its business combination with Golden Arrow Merger Corp and will begin trading on Nasdaq under the new symbol 'BSLK' on August 14, 2024. This transaction aims to accelerate Bolt Threads' biomaterials platform, focusing on sustainable materials in the consumer goods industry.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:04 pm

TAP

TLRY

Tilray Brands shares are trading higher after the company announced it will acquire four craft breweries from Molson Coors.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 6:27 pm