Streetbeat News

Acquisitions Mergers

BYD

DIS

PENN

Shares of PENN Entertainment surged following a report that Boyd Gaming is considering acquiring the company. The potential deal could face challenges due to Boyd's smaller valuation and the need to win over Disney, which has a licensing agreement with Penn for the ESPN Bet brand. The news comes as Penn has struggled with its online sports betting platform but has shown strong results in its casino business.

Portfolio Pulse from Chris Katje

June 20, 2024 | 8:40 pm

BYD

PENN

Boyd Gaming shares are trading lower following a report suggesting the company has made an acquisition approach to Penn Entertainment.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:39 pm

PENN

PENN shares are trading higher following a report suggesting Boyd Gaming made an acquisition approach to the company.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:37 pm

BYD

PENN

Boyd Gaming has made an acquisition approach to Penn Entertainment, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:29 pm

ARES

MGM

Red Bull is reportedly considering a $4 billion investment to bring an NBA franchise to Las Vegas. This move could significantly impact the sports landscape in the city, which is already home to NHL, NFL, and soon MLB teams. Private equity firms like Ares Management, Blackstone, and Carlyle Group are also interested in sports team investments. T-Mobile Arena, partially owned by MGM Resorts, could be a potential venue for the new team.

Portfolio Pulse from Hayden Buckfire

June 20, 2024 | 7:00 pm

FEMY

MGOL

SONN

TPST

TRVN

ZAPP

U.S. stocks traded mixed with the Dow Jones gaining over 300 points. Energy shares rose by 2%, while information technology shares fell by 1.1%. Zapp Electric Vehicles Group shares surged 129% on positive delivery expectations. MGO Global shares rose 66% on acquisition news. Femasys shares increased 29% after receiving CE Mark approval. Tempest Therapeutics, Trevena, and Sonnet BioTherapeutics saw significant declines.

Portfolio Pulse from Avi Kapoor

June 20, 2024 | 6:35 pm

BMY

EVO

LLY

NVO

German drug developer Evotec SE (NASDAQ:EVO) is consulting defense advisers due to takeover concerns following a significant drop in share price. Multiple buyout firms are evaluating Evotec as a potential acquisition target. Despite a recent surge in shares, the stock has declined over 60% year-to-date. The company is also undergoing a leadership transition, with Christian Wojczewski set to become CEO next month. Major shareholders Novo Holdings A/S and Mubadala Investment Co. will play a crucial role in any strategic decisions. Evotec has partnerships with Bristol-Myers Squibb Co. (NYSE:BMY) and Eli Lilly & Co. (NYSE:LLY).

Portfolio Pulse from Vandana Singh

June 20, 2024 | 5:46 pm

BSX

SILK

Boston Scientific is set to acquire Silk Road Medical for $1.16 billion in cash, offering $44 per share, which is a 30% premium over the last closing price. The deal aims to enhance Boston Scientific's neurovascular portfolio and is expected to close by Q4 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 5:21 pm

MGOL

MGO Global Inc. (NASDAQ:MGOL) shares surged after announcing a business combination with Heidmar, Inc., expected to close in Q3 2024. The combined company will operate under the Heidmar name and be listed on Nasdaq as 'HMAR'. The news led to a significant increase in trading volume for MGOL shares.

Portfolio Pulse from Erica Kollmann

June 20, 2024 | 4:38 pm

EBS

Emergent BioSolutions (NYSE:EBS) shares are trading higher after announcing the sale of its Baltimore-Camden facility to Bora Pharmaceuticals for $30 million. The sale aligns with Emergent's plan to become leaner and more flexible. Additionally, Benchmark analyst Robert Wasserman raised the price target for EBS from $5 to $8.

Portfolio Pulse from Dylan Berman

June 20, 2024 | 4:36 pm