Streetbeat News

Acquisitions Mergers

BIIB

DNLI

RARE

Biogen is planning to spend up to $8 billion on dealmaking this year, focusing on acquisitions and partnerships to bolster its pipeline. This move is part of Biogen's strategy to enhance its portfolio and drive growth.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:40 pm

TH

Target Hospitality Corp. (NASDAQ:TH) shares surged after the company updated its 2024 outlook following the termination of a significant contract. The U.S. government ended the STFRC contract, impacting revenue projections. Despite this, the company expects zero net debt by the end of 2024 and received an acquisition proposal from Arrow Holdings S.àr.l.

Portfolio Pulse from Shivani Kumaresan

June 27, 2024 | 3:39 pm

CLSK

GRDI

CleanSpark Inc (NASDAQ:CLSK) announced plans to acquire GRIID Infrastructure Inc (NASDAQ:GRDI) in an all-stock transaction valued at $155 million. The acquisition includes GRIID's Bitcoin mining data centers in Tennessee and is expected to close in Q3 2024. CleanSpark will assume GRIID's debt and provide working capital and bridge loans. The deal aims to expand CleanSpark's infrastructure to over 400 megawatts by 2026.

Portfolio Pulse from Adam Eckert

June 27, 2024 | 3:36 pm

RDY

Dr. Reddy's Laboratories shares are trading higher after announcing a definitive agreement with Haleon to acquire Northstar Switzerland SARL's global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy category outside of the United States.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:06 pm

IP

International Paper shares are trading lower after Suzano announced it will not pursue a transaction involving the company.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:45 pm

IP

International Paper shares are trading lower after Suzano announced it will not pursue a transaction involving the company.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:45 pm

COLD

KKR

XLRE

Lineage Inc., a Michigan-based logistics REIT specializing in temperature-controlled storage, has filed for an IPO seeking a $30 billion valuation. The company, which operates 482 warehouses, reported $5.3 billion in revenue and a net loss of $96.2 million in 2023. The IPO will be advised by KKR & Co. The Real Estate Select Sector SPDR Fund (XLRE) and Americold Realty Trust (COLD) are also mentioned in the context of the real estate market's performance.

Portfolio Pulse from Hayden Buckfire

June 27, 2024 | 2:43 pm

LUNMF

Lundin Mining (OTC:LUNMF) is investing $350 million to increase its stake in the Caserones copper-molybdenum mine in Chile to 70%. This strategic move aims to enhance copper production and secure a yearly operator fee. The investment is funded through a revolving credit facility, ensuring no immediate liquidity impact.

Portfolio Pulse from Stjepan Kalinic

June 27, 2024 | 2:18 pm

GD

Heritage Environmental Services is set to acquire EBV from General Dynamics. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:04 pm

E

Eni S.p.A. (NYSE:E) has finalized a binding agreement to sell its Alaskan upstream assets to Hilcorp, aligning with its strategy to streamline operations and rebalance its portfolio. The transaction's value will be disclosed upon closing, pending regulatory approvals. Eni aims for a net portfolio inflow of ~$8.5 billion over 2024-27 by upgrading its upstream portfolio and reducing high equity ownership in exploration discoveries.

Portfolio Pulse from Lekha Gupta

June 27, 2024 | 1:44 pm