Streetbeat News

Acquisitions Mergers

CARR

Carrier's Sensitech has expanded its cold chain solutions by acquiring Berlinger & Co.'s monitoring business. This acquisition aims to enhance Sensitech's capabilities in providing comprehensive cold chain monitoring solutions.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:13 am

MOR

NVS

Novartis has announced plans to delist MorphoSys from the Frankfurt Stock Exchange and NASDAQ following its acquisition. Novartis will initiate a squeeze-out of MorphoSys' minority shareholders and merge MorphoSys into Novartis. The delisting and merger are expected to be completed by Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:13 am

BEST

BEST Inc. (NYSE:BEST) has announced a $54.2 million merger deal with BEST Global Partners, resulting in the company going private and delisting from the NYSE. The merger offers a premium to shareholders and is expected to close in Q3 2024, subject to customary conditions and shareholder approval.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:10 am

CYH

Community Health Systems (CYH) announced that Novant Health has withdrawn from a hospital purchase agreement. This development could impact CYH's strategic plans and financial outlook.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 6:11 am

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has rejected unsolicited takeover bids from Cycle Group Holdings Ltd and Future Pak, LLC, citing undervaluation. The Board determined that the offers of $8.00 and $8.50-$9.00 per share, respectively, do not reflect the company's true value.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 5:49 am

CPAY

Corpay has signed a definitive agreement to acquire GPS Capital Markets, aiming for $2 billion in revenue by 2026. The transaction is expected to close in early 2025, subject to regulatory approval and standard closing conditions. The acquisition is expected to be accretive to revenue and EPS growth in 2025. The company also reiterated its Q2'24 outlook.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 5:46 am

GMS

GMS Inc. (NYSE:GMS) is expected to report lower Q4 earnings at $2.04 per share, down from $2.11 per share a year ago, with projected revenue of $1.4 billion. The company recently agreed to acquire Yvon Building Supply for up to C$196.5 million. Analysts have mixed ratings, with price targets ranging from $88 to $105.

Portfolio Pulse from Avi Kapoor

June 20, 2024 | 5:29 am

AAPL

SPOT

TikTok is forming a Music Content Investment Team to explore global partnership or acquisition opportunities in the music content sector. This move could impact major music rights holders and mirrors strategies of tech giants like Apple and Spotify.

Portfolio Pulse from Franca Quarneti

June 19, 2024 | 5:24 pm

AMD

ARKW

TSM

Ark Invest, led by Cathie Wood, made significant trades in Taiwan Semiconductor Manufacturing Co Ltd (TSM) and Advanced Micro Devices Inc (AMD). ARKW acquired 3,316 shares of TSM and 3,710 shares of AMD. TSM plans to increase prices for its 3nm wafers and advanced packaging, while AMD is dealing with a potential data breach.

Portfolio Pulse from Benzinga Neuro

June 19, 2024 | 2:29 am

HMST

HomeStreet, Inc. (NASDAQ:HMST) announced that its shareholders have approved the merger agreement with FirstSun Capital Bancorp. The final voting results will be filed on June 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 8:46 pm