Streetbeat News

Acquisitions Mergers

AOGO

Ayurcann Holdings is set to merge with Arogo Capital Acquisition Corp. at an estimated enterprise value of $210 million.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 5:30 pm

CRGY

SBOW

Crescent Energy Co (NYSE:CRGY) has agreed to acquire SilverBow Resources Inc (NYSE:SBOW) for $2.1 billion. KeyBanc Capital Markets analyst Tim Rezvan initiated coverage of Crescent Energy with an Overweight rating and a price target of $16, citing the acquisition's significant impact and synergies.

Portfolio Pulse from Priya Nigam

June 27, 2024 | 5:22 pm

BMY

NVO

TSVT

Novo Nordisk has acquired 2seventy Bio's Hemophilia A program and related gene editing technology. 2seventy Bio will now focus exclusively on its CAR T cell therapy, Abecma, in collaboration with Bristol Myers Squibb. The deal could bring up to $40 million to 2seventy Bio.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 5:17 pm

CLSK

GRDI

Griid Infrastructure Inc. (NASDAQ:GRDI) shares are trading lower after announcing a merger deal with CleanSpark, Inc. (NASDAQ:CLSK) valued at $155 million. The merger involves CleanSpark assuming Griid's debt and issuing CleanSpark common stock to Griid shareholders. The deal is expected to close in Q3 2024, pending shareholder approval and customary conditions.

Portfolio Pulse from Lekha Gupta

June 27, 2024 | 5:01 pm

DECA

Denali Capital Acquisition shares are trading higher after the company announced that it agreed to terminate its previously announced business combination agreement with Longevity Biomedical.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:46 pm

ABBV

AbbVie shares are trading lower after the company announced the acquisition of Celsius Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:44 pm

DECA

Denali Capital Acquisition Corp. (NASDAQ:DECA) and Longevity Biomedical, Inc. have mutually agreed to terminate their previously announced business combination agreement. Denali and its sponsor will seek alternative ways to consummate an initial business combination.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:41 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) has agreed to sell its West of Shetland assets to The Prax Group, pending regulatory approval. The assets produce approximately 7,500 barrels of oil equivalent per day, mostly gas. This move aligns with TotalEnergies' strategy to divest mature non-core assets. TotalEnergies remains committed to the UK through its other North Sea assets and its Integrated Power and Renewables portfolio. Additionally, TotalEnergies has acquired a 60% stake in Block STP02 from ANP-STP. Investors can gain exposure to TTE via ETFs like EIPX and KEAT. TTE shares are up 0.22% at $66.37.

Portfolio Pulse from Lekha Gupta

June 27, 2024 | 4:21 pm

QQQS

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares are trading lower after Future Pak withdrew its proposal to purchase the company. Vanda had previously rejected multiple acquisition offers, stating they undervalued the company. VNDA stock has lost over 9% in the past year. Investors can gain exposure to VNDA via Invesco NASDAQ Future Gen 200 ETF (NASDAQ:QQQS).

Portfolio Pulse from Nabaparna Bhattacharya

June 27, 2024 | 4:11 pm

CLSK

GRDI

GRIID Infrastructure shares are trading lower following Cleanspark's announcement to acquire the company in an all-stock transaction.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:09 pm