Streetbeat News

Acquisitions Mergers

OMI

Owens & Minor shares are trading higher following the release of preliminary Q2 financial results and FY24 guidance. The company also announced a definitive agreement to acquire Rotech Healthcare Holdings.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 3:19 pm

CCSO

GRID

JCI

Johnson Controls International (NYSE:JCI) has agreed to sell its Residential and Light Commercial HVAC business to Bosch Group for $8.1 billion. The deal is expected to enhance profit margins and provide net cash proceeds of around $5.0 billion after taxes and costs. The company plans to use the proceeds to reduce debt and return funds to shareholders. The transaction is expected to close in about 12 months, pending regulatory approvals.

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 2:32 pm

AMZN

CRWD

GOOG

GOOGL

MSFT

Wiz has decided to pursue an IPO instead of being acquired by Alphabet due to potential antitrust issues and investor concerns. This decision follows a recent outage in Microsoft systems caused by CrowdStrike. Analysts predict increased M&A activity in the cybersecurity sector, with companies like Microsoft, Google, and Amazon potentially looking to acquire cybersecurity firms.

Portfolio Pulse from Shanthi Rexaline

July 23, 2024 | 1:45 pm

BZFD

LOST iN has acquired BuzzFeed's travel vertical, Bring Me!, to expand its content library and reach millions of travel enthusiasts. No financial terms were disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 1:34 pm

KRNL

KRNLU

AIRO Group Holdings and Kernel Group Holdings announced the effectiveness of their registration statement with the SEC, paving the way for AIRO's public listing on Nasdaq. AIRO reported $43M in revenue for 2023 and $1.1B in eVTOL orders.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 1:04 pm

MOH

Molina Healthcare is set to acquire ConnectiCare for $350 million, expanding its government managed care presence into Connecticut. The acquisition is expected to add $1.00 per share to earnings and represents 25% of 2024 premium revenue.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 1:02 pm

CRML

Critical Metals shares are trading higher after the company announced the completion of Stage 1 of its plan to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine from Rimbal.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 12:59 pm

CRML

Critical Metals Corp (NASDAQ:CRML) has completed Stage 1 of its acquisition of a controlling interest in the Tanbreez Greenland Rare Earth Mine. The company issued 8.4 million CRML shares to Rimbal Pty Ltd. in exchange for a 36.45% interest, increasing its total stake to 42%.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 12:10 pm

TBMC

Cyabra Strategy Ltd and Trailblazer Merger Corporation I have signed a definitive agreement for a business combination, which will result in Cyabra being publicly listed on the NASDAQ. Cyabra provides AI tools to combat disinformation and has previously worked with Elon Musk to analyze bot activity on Twitter.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 12:09 pm

AROC

MEDP

NXPI

OTLY

SERV

STM

UAA

WDS

NXP Semiconductors, Medpace Holdings, Oatly Group, Archrock, Serve Robotics, Woodside Energy, Under Armour, and STMicroelectronics saw declines in pre-market trading following mixed earnings reports, narrowed revenue guidance, public offerings, and acquisition announcements.

Portfolio Pulse from Avi Kapoor

July 23, 2024 | 12:05 pm