Streetbeat News

Acquisitions Mergers

ONIT

Waterfall Asset Management has signed a letter of intent with Onity Group to acquire reverse mortgage assets from Mortgage Assets Management.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 12:42 pm

FLGC

Flora Growth Corp (NASDAQ:FLGC) reported a 27% YoY decline in Q2 revenue to $15.68 million, primarily due to JustCBD's performance. Despite the revenue drop, the company reduced its net loss by 94% and highlighted strategic expansions in Germany, Australia, and the US. Flora Growth's shares closed 1.07% lower at $0.93 per share.

Portfolio Pulse from Nina Zdinjak

August 13, 2024 | 12:41 pm

FLS

Flowserve Corporation (FLS) has announced its acquisition of MOGAS Industries for $290 million, with a potential $15 million earnout. The transaction is expected to close in Q4.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 12:32 pm

UAMY

United States Antimony Corporation (UAMY) has acquired full ownership of 97 mining claims and 3 leases in Ontario's Sudbury District. This acquisition targets critical minerals such as cobalt, nickel, copper, and bismuth, aligning with Canada's billion-dollar plan to boost its critical minerals sector.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 12:06 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) is trading lower premarket after issuing layoff notices to 59 employees following its $60 billion acquisition of Pioneer Natural Resources. Despite offering jobs to over 1,500 of Pioneer's employees, the restructuring has led to workforce reductions. Exxon recently reported strong Q2 results, beating revenue and EPS estimates.

Portfolio Pulse from Lekha Gupta

August 13, 2024 | 11:50 am

DIS

INDA

Reliance and Disney have proposed selling some TV channels to gain antitrust approval for their $8.5 billion media merger in India. However, the Indian antitrust body has stated that cricket rights cannot be sold.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:36 am

SNDL

SNDL has agreed to purchase the remaining 34.8% minority interest in Nova Cannabis for C$1.75 per share, totaling approximately C$40 million. This represents a 41.2% premium to the 20-day VWAP of Nova Shares on the Toronto Stock Exchange as of August 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:19 am

BAX

Baxter International plans to use after-tax proceeds from its upcoming kidney care transaction to reduce its debt, aligning with its capital allocation priorities. The transaction is expected to close in late 2024 or early 2025, pending regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:06 am

BAX

Baxter shares are trading higher following the announcement of a definitive agreement to divest its Vantive Kidney Care segment to Carlyle for $3.8 billion.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:05 am

BAX

CG

Carlyle Group is set to acquire Baxter International's Kidney Care segment for $3.8 billion. The segment will be renamed Vantive post-acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:00 am