Streetbeat News

Acquisitions Mergers

FLYW

Flywire is exploring a potential sale after attracting takeover interest, according to sources. This development could significantly impact the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 3:31 pm

CBST

CURLF

MSOS

VRNOF

Boris Jordan discusses the rescheduling of cannabis, with 90% of comments reviewed and no ALJ hearing so far. Verano Holdings will acquire operations from The Cannabist Co. for $15M in cash and $105M in licenses in Arizona and Virginia. Virginia is seen as a promising market for cannabis.

Portfolio Pulse from The Dales Report

August 02, 2024 | 3:03 pm

TIGO

Billionaire Xavier Niel has increased his bid for Millicom International Cellular SA to $4.4 billion, offering $25.75 per share in cash. This follows Millicom's rejection of an earlier $24 per share bid.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 2:59 pm

CXXIF

C21 Investments Inc. reported $4.5M in revenue for a two-month stub period ending March 31, 2024, following a $3.5M acquisition of Deep Roots Harvest. The company maintained positive free cash flow and aligned its fiscal year end with industry peers.

Portfolio Pulse from Jelena Martinovic

August 02, 2024 | 1:41 pm

EC

FTXN

OILT

OXY

PR

Occidental Petroleum Corporation (NYSE:OXY) shares are trading lower following the acquisition of CrownRock, L.P. for $12 billion. The deal is expected to enhance Occidental's Permian portfolio and increase free cash flow. The company also announced a dividend increase. Ecopetrol (NYSE:EC) will not purchase a stake in CrownRock. Occidental recently sold Delaware Basin assets to Permian Resources Corp (NYSE:PR) for $818 million. Investors can gain exposure to OXY via Texas Capital Texas Oil Index ETF (NYSE:OILT) and First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN).

Portfolio Pulse from Lekha Gupta

August 02, 2024 | 1:37 pm

CVX

Chevron CEO Mike Wirth stated that the global oil market is well supplied and the company's move to Texas is about performance, not politics. The recent earnings miss involved non-recurring items, and the move to Houston continues a trend. Wirth is confident in an arbitration case and believes the Hess deal is likely to close. The second quarter was challenging for analysts to forecast.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 12:44 pm

ME

23andMe's Special Committee has responded to the CEO's take-private proposal, stating that they will consider other alternatives to maximize shareholder value if a revised offer with a more appropriate price per share is not presented.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 12:08 pm

AACI

RZLV

RZLVW

Armada Acquisition Corp. I has received stockholder approval for its business combination with Rezolve. Upon completion, Armada will become a wholly owned subsidiary of Rezolve AI Limited. Rezolve's ordinary shares and warrants will trade on Nasdaq under the ticker symbols 'RZLV' and 'RZLVW'.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 12:01 pm

SQSP

Squarespace announced it will go private through a definitive agreement with Permira. As a result, the company will not host earnings calls or provide financial guidance for the rest of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 11:11 am

ACN

Accenture has acquired BOSLAN to assist clients in optimizing investments in net-zero infrastructure. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 10:51 am