Streetbeat News

Acquisitions Mergers

CLF

FXZ

XME

Cleveland-Cliffs Inc. (NYSE:CLF) is acquiring Stelco Holdings Inc. (OTC:STZHF) for $2.5 billion, expecting $120 million in annual savings. The deal is anticipated to boost CLF's EPS for 2024 and 2025. CLF shares are down 2.41% premarket. Investors can gain exposure via SPDR S&P Metals & Mining ETF (NYSE:XME) and First Trust Materials AlphaDEX Fund (NYSE:FXZ).

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 12:38 pm

FNV

SLGGF

SolGold has secured $750 million in funding for its Cascabel project in Ecuador from Franco-Nevada Corporation and Osisko Bermuda. The project is expected to become a world-class copper and gold mine with significant production capacity and a long mine life.

Portfolio Pulse from Stjepan Kalinic

July 15, 2024 | 12:34 pm

LNTH

Lantheus has acquired Meilleur Technologies, including the NAV-4694 ß Amyloid PET Imaging Agent for Alzheimer's Disease. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 12:34 pm

CSLR

Complete Solar has acquired Core Energy, though the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 12:32 pm

M

Macy's, Inc. has terminated discussions with Arkhouse and Brigade due to a lack of certainty in financing and non-compelling value in their revised proposal. The Board and management are committed to focusing on shareholder value through the 'A Bold New Chapter' strategy.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 12:31 pm

LENZ

LENZ Therapeutics has entered into a $30 million stock purchase agreement with Ridgeback Capital. This investment is expected to support LENZ's ongoing development and commercialization efforts.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 12:05 pm

MDWD

Mölnlycke Health Care has invested $15 million in MediWound Ltd. (NASDAQ:MDWD) through a private investment in public equity (PIPE) to enhance wound care solutions. MediWound specializes in next-generation enzymatic therapeutics for non-surgical wound debridement.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:38 am

BLK

FDFF

SCHD

BlackRock, Inc. (NYSE:BLK) reported its Q2 FY24 earnings with an 8% Y/Y revenue growth to $4.805 billion, missing the consensus of $4.849 billion. The company saw record inflows, driven by private markets and ETFs, and reported a 12% Y/Y increase in adjusted EPS to $10.36, beating the consensus of $9.93. BlackRock's total AUM rose to $10.6 trillion. The company also announced acquisitions of Global Infrastructure Partners and Preqin.

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 11:03 am

KKR

KKR has acquired Park 8Ninety, a 12-building industrial logistics park in Houston, Texas, from Artis REIT for $234 million. This acquisition expands KKR's industrial portfolio, which now includes over 48 million square feet of industrial real estate in major U.S. metropolitan areas.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:02 am

AGI

Alamos Gold Inc. (NYSE:AGI) has entered into a $116 million gold sale prepayment agreement to eliminate a significant portion of Argonaut Gold's hedge book, increasing its exposure to rising gold prices. The deal involves the delivery of 49,384 ounces of gold in 2025.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:00 am