Streetbeat News

Acquisitions Mergers

MMAT

Meta Materials' subsidiary, Nanotech Security Corp., has entered into an agreement to sell most of its authentication business assets to Authentix for $10 million. The deal excludes certain assets like cash and real property, with $3 million withheld for specific obligations. The transaction is subject to customary closing conditions and covenants.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:18 pm

GURE

Gulf Resources, Inc. (NASDAQ:GURE) shares are down 10.4% to $1.08 after announcing the acquisition of crude salt fields in China. The deal involves a $38.6 million investment, with 80% paid in cash and 20% in company shares. The acquisition aims to boost bromine production by 2025.

Portfolio Pulse from Henry Khederian

July 05, 2024 | 3:15 pm

LBTYA

Liberty Global is considering selling a stake in its Swiss telecom unit, Sunrise, ahead of a planned spin-off later this year. Talks have been held with several investors, including Swiss family offices. The spin-off is on track for the fourth quarter, with JP Morgan and UBS advising on the plans. Liberty Global plans to inject 1.5 billion Swiss francs into Sunrise to reduce leverage and has committed to a minimum dividend of 240 million Swiss francs. The enterprise value of Sunrise could be in the range of 8 to 9 billion Swiss francs.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

MICS

The Singing Machine Company, Inc. (NASDAQ:MICS) has completed the acquisition of SemiCab, an AI technology company in the global logistics space. The deal involves issuing 641,806 shares of MICS common stock and assuming $2.6 million in liabilities. Additionally, MICS will issue a 20% membership interest in its new subsidiary, SemiCab Holdings, and has an option to purchase SMCB Solutions Private Limited. MICS shares rose by 5.22% following the news.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2024 | 3:02 pm

SNN

Smith & Nephew Plc (NYSE:SNN) shares surged after activist investor Cevian Capital took a 5% stake, aiming to improve the company's operating performance. The company has faced challenges, including a significant drop in market capitalization and supply chain issues. Despite these challenges, Smith & Nephew reported solid revenue growth in its Orthopaedics and Sports Medicine & ENT businesses for Q1 2024.

Portfolio Pulse from Vandana Singh

July 05, 2024 | 3:02 pm

INST

Instructure shares are trading higher following a Reuters report that KKR and Francisco Partners are competing to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

MDWD

SOLV

MediWound (MDWD) is reportedly being eyed by Solventum for a potential acquisition at $34 per share. This news has sparked interest among traders.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) stock is volatile in premarket trading after announcing a deal to acquire critical assets for its content distribution network. The deal involves issuing 5.1 million shares and $17.5 million over three years, with a standby equity purchase agreement allowing up to $2.5 billion in shares issuance. The new network will stream via Truth Social and standalone apps, offering various content. DJT shares were down 0.64% to $30.90 premarket.

Portfolio Pulse from Anusuya Lahiri

July 05, 2024 | 3:01 pm

GLNG

M

MICS

Market-Moving News for July 5th includes significant developments for Golar LNG, Macy's, and The Singing Machine Company. Golar LNG has entered into a 20-year agreement with Pan American Energy for a floating LNG vessel in Argentina. Macy's shares are up after Arkhouse and Brigade raised their offer to $24.80 per share. The Singing Machine Company completed the acquisition of SemiCab and entered into an option agreement to acquire SMCB Solutions Private Limited.

Portfolio Pulse from ryanfaloona@benzinga.com

July 05, 2024 | 3:01 pm

INST

Reuters reported that KKR and Francisco Partners are competing to acquire Instructure. This potential acquisition could significantly impact Instructure's stock price.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm