Streetbeat News

Acquisitions Mergers

HITI

High Tide has inaugurated two new Canna Cabana stores in Alberta and Saskatchewan, marking its 175th and 176th locations in Canada. The company aims to add 20 to 30 new stores by the end of the year, supported by strong free cash flow and potential M&A activities.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 10:03 am

HAYN

Haynes International (NASDAQ: HAYN) has secured clearance from the Committee on Foreign Investment in the United States (CFIUS) for its planned merger with North American Stainless. The merger, which involves Haynes becoming a wholly owned subsidiary of North American Stainless, still requires regulatory approval from the UK and Austria. The merger is expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 7:16 am

CRWS

INFN

KRUS

NKE

NOK

Key stocks to watch on Friday include Crown Crafts, Nokia, Infinera, Nike, and Kura Sushi. Crown Crafts is set to release earnings, Nokia plans to acquire Infinera, Nike reported mixed Q4 results, and Kura Sushi issued soft guidance.

Portfolio Pulse from Avi Kapoor

June 28, 2024 | 6:25 am

PTGX

WIRE

Protagonist Therapeutics (PTGX) will join the S&P SmallCap 600, replacing Encore Wire (WIRE) effective prior to the opening of trading on July 3. Encore Wire is being acquired by Prysmian SpA, pending final conditions.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 9:21 pm

TIGO

Millicom's independent committee has stated that Atlas' $24 per share offer significantly undervalues the company and is not in the best interests of shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 9:19 pm

INFN

NOK

Nokia Corp (NYSE:NOK) will acquire Infinera Corporation (NASDAQ:INFN) in a transaction valuing Infinera at $6.65 per share, representing a 28% premium to its recent share price. The deal is expected to be accretive to Nokia's earnings per share in the first year post-close.

Portfolio Pulse from Erica Kollmann

June 27, 2024 | 9:10 pm

INFN

NOK

Nokia expects its combination with Infinera to deliver EUR 200M of net comparable operating profit synergies by 2027. The transaction is projected to accelerate Nokia's journey to a double-digit operating margin in its Optical Networks business.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 8:59 pm

INFN

NOK

Nokia's board has committed to increasing and accelerating its share buyback program to offset dilution from its deal with Infinera. At least 70% of the consideration will be paid in cash, and Infinera's shareholders can elect to receive up to 30% in Nokia ADSs.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 8:57 pm

INFN

NOK

Nokia expects its deal with Infinera to be accretive to comparable operating profit and EPS in the first year and to deliver over 10% comparable EPS accretion by 2027.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 8:56 pm

INFN

NOK

Nokia is set to acquire Infinera in a transaction valued at $6.65 per share, with an enterprise value of $2.3 billion.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 8:53 pm