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Acquisitions Mergers

PRPL

TPX

The FTC has filed a lawsuit to block Tempur Sealy's $4 billion acquisition of Mattress Firm, citing competition concerns. The merger would combine the largest mattress manufacturer with the largest mattress retailer, potentially harming competition and raising prices. Tempur Sealy plans to address regulatory concerns by divesting some stores, but the FTC remains firm in its opposition.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 10:56 am

NNDM

The transaction represents a 27.3% premium to Desktop Metal's closing price and a 20.5% premium to the 30-day VWAP as of July 2, 2024, for about $183 million.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 10:49 am

NNDM

Nano Dimension has entered an agreement to acquire Desktop Metal in an all-cash transaction valued at $5.50 per share.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 10:48 am

TPX

Tempur Sealy International will hold a conference call on July 8th at 8:00 AM EST to discuss its response to a complaint filed by the US Federal Trade Commission challenging the proposed combination of Tempur Sealy and Mattress Firm Group.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 10:33 am

CHX

IEZ

OIH

SLB

TTE

The U.S. Department of Justice has issued a second request for information regarding Schlumberger's planned acquisition of ChampionX. The acquisition, approved by ChampionX stockholders, is expected to close in late 2024 or early 2025. Schlumberger anticipates $400 million in annual pretax synergies within three years post-closure. Additionally, Schlumberger has entered a 10-year partnership with TotalEnergies to develop digital energy solutions. Investors should consider macroeconomic factors and Schlumberger's performance relative to its peers.

Portfolio Pulse from Lekha Gupta

July 03, 2024 | 10:28 am

Nippon Steel's Vice Chairman, Takahiro Mori, is set to visit the U.S. to continue discussions on the $15 billion acquisition of U.S. Steel (NYSE:X). Despite support from U.S. Steel's management, the deal faces opposition from the White House and the United Steelworkers union. The acquisition, initially expected to close by mid-2024, may be delayed due to political resistance and ongoing investigations.

Portfolio Pulse from Benzinga Neuro

July 03, 2024 | 10:06 am

CVX

HES

IYE

XLE

XOM

An arbitration panel has been formed to resolve Exxon Mobil's dispute over Chevron's $53 billion acquisition of Hess. Exxon claims it has a right of first refusal on Hess's assets in Guyana, which Chevron and Hess dispute. The panel's formation is a significant step in the process, which has created uncertainty around the merger anticipated to close in the first half of 2024.

Portfolio Pulse from Lekha Gupta

July 03, 2024 | 9:55 am

PARA

Skydance has acquired approximately 50% of Paramount's controlling shares at a price of $15 per share.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 9:46 am

HUM

VDC

WMT

XLP

Walmart Inc. (NYSE:WMT) is in discussions to sell its recently closed health clinics to recoup investments. The company shut down all 51 clinics and terminated virtual healthcare services in April due to an unsustainable business model. Walmart is engaging with potential buyers, including Humana Inc. (NYSE:HUM). Additionally, Walmart sold its virtual care subsidiary, MeMD, to Fabric. Walmart's Q1 2025 revenue was $161.51 billion, beating estimates, and its stock has gained over 29% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 9:43 am

PARA

David Ellison's Skydance has reached a preliminary agreement to buy National Amusements for $1.75 billion and plans to merge Skydance with Paramount Global.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 9:35 am