Streetbeat News

Acquisitions Mergers

HRI

Herc Holdings has announced that the sale process for its Cinelease Studio Entertainment business is ongoing. This move is part of the company's strategy to streamline its operations and focus on its core rental business.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 10:39 am

OMI

Owens & Minor has signed a definitive agreement to acquire Rotech Healthcare for $1.36 billion in cash. This acquisition is expected to expand Owens & Minor's product offerings and market reach.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 10:31 am

JCI

Johnson Controls shares are trading higher after the company announced it will divest its residential and light commercial HVAC businesses to Bosch in an $8.1 billion deal.

Portfolio Pulse from Bill Haddad

July 23, 2024 | 10:12 am

JCI

Johnson Controls (JCI) is divesting its residential and light commercial HVAC businesses to Bosch in a deal valued at $8.1 billion. This move is part of JCI's strategy to become a pure-play provider of comprehensive solutions for commercial buildings. JCI's portion of the consideration is approximately $6.7 billion. The transaction includes the North America Ducted business and a global residential joint venture with Hitachi, where JCI owns 60%. Hitachi will retain certain ductless HVAC assets in Japan.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 8:06 am

AZN

BMY

NVS

SNY

Despite rising US-China tensions, major pharmaceutical companies like AstraZeneca, Novartis, Bristol Myers Squibb, and Sanofi are pursuing deals in China to strengthen their drug pipelines. AstraZeneca acquired Gracell Biotechnologies for $1.2 billion, and Novartis bought the remaining shares of SanReno Therapeutics. This trend continues despite geopolitical risks and economic challenges.

Portfolio Pulse from Benzinga Neuro

July 23, 2024 | 7:42 am

VSTO

Vista Outdoor has clarified its position, stating there are no restrictions on MNC Capital's tender offer and reaffirming its support for the CSG transaction.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 6:18 am

EQIX

Equinix is set to acquire three high-performance data centers in the Philippines, enhancing its presence in Southeast Asia. The all-cash deal, valued at approximately 15x the projected EBITDA at full utilization, is expected to close in the second half of 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 5:39 am

GOOG

GOOGL

Google's $23 billion acquisition of cloud security startup Wiz has been called off due to antitrust and investor concerns. Wiz will now pursue an IPO. The deal would have significantly boosted Google's cloud security capabilities, helping it compete with Microsoft and Amazon. Alphabet's stock saw a slight increase following the news.

Portfolio Pulse from Benzinga Neuro

July 23, 2024 | 3:54 am

AMZN

Amazon.com Inc. (NASDAQ:AMZN) has acquired Bray Film Studios to expand its UK-based television and film production. This move aligns with Amazon's strategy to enhance its content library, following its acquisition of MGM Studios in 2021. The acquisition boosts the UK's studio and production industry, which hosts major Hollywood films.

Portfolio Pulse from Benzinga Neuro

July 23, 2024 | 1:39 am

CBRG

Phytanix Bio and SPAC Company Chain Bridge I have entered a definitive business combination agreement. The combined company will be named Phytanix Inc. and is expected to be listed on Nasdaq under the ticker symbol 'PHYX' by Q4 2024. The transaction values Phytanix Bio at $58 million, with additional assumptions of $17 million in preferred stock and $4.4 million in short-term debt.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 9:48 pm