Streetbeat News

Acquisitions Mergers

BCSA

Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) announced its liquidation and dissolution, with a per-share redemption price of approximately $11.39 for its public shares. The company will not complete a business combination within the required timeframe.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:32 pm

EVTV

Envirotech Vehicles has acquired Maddox Industries, a government contracting solutions provider, to enhance its U.S. manufacturing and logistics capabilities. The deal involves issuing 3.1 million shares and a conditional $1 million cash payment, potentially boosting revenue from government contracts.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:21 pm

X

United States Steel Corp is working towards closing a transaction with Nippon Steel by the end of the year.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:19 pm

ONTO

Onto Innovation has acquired Lumina Instruments Inc., which is expected to expand its addressable market by approximately $250 million.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:08 pm

ONTO

Onto Innovation has acquired Lumina Instruments and Kulicke and Soffa's lithography business to enhance its inspection capabilities for unpatterned wafers and panel substrates. The deal strengthens Onto's IP portfolio and R&D for panel lithography, though financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:06 pm

AMCR

Amcor has announced the sale of its 50% interest in the BCNA joint venture for $122 million. This move is part of Amcor's strategy to streamline its operations and focus on core business areas.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 8:06 pm

SAVE

Spirit Airlines (NYSE:SAVE) is experiencing stock volatility due to financial challenges, leading to pilot furloughs and asset sales. The company aims to save $80 million annually and generate $225 million in liquidity by selling older aircraft. Spirit faces a December deadline to refinance $1.1 billion in bonds, amid speculation of potential bankruptcy following a failed merger with JetBlue.

Portfolio Pulse from Henry Khederian

October 31, 2024 | 6:43 pm

SMCI

Super Micro is facing potential risks due to the resignation of its auditor, which could lead to trading suspension or delisting. The U.S. government may block Chinese acquisitions if the company faces survival challenges, and there could be executive changes or corporate consolidation.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 6:01 pm

K

Kellanova (NYSE:K) reported strong Q3 earnings, with adjusted EPS of 91 cents beating expectations. Organic sales rose 6%, driven by growth in emerging markets and improved profit margins. A shareholder vote on Mars' acquisition of Kellanova is set for November 1.

Portfolio Pulse from Nabaparna Bhattacharya

October 31, 2024 | 3:48 pm

AAPL

AMZN

GAM

MSFT

SPY

Boaz Weinstein of Saba Capital has acquired a 5.3% stake in General American Investors (GAM) and plans to engage with management to address the fund's discount to its net asset value. Weinstein's track record in closed-end fund activism suggests potential for narrowing the discount, offering investors an opportunity for gains.

Portfolio Pulse from Tim Melvin

October 31, 2024 | 2:06 pm