Streetbeat News

Acquisitions Mergers

CONN

Home goods retailer Conn's has engaged advisers to assist with its debt and potential merger, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 6:02 pm

CRLBF

CURLF

GTBIF

TCNNF

Good Day Farm and NOLA PharmaHoldings are raising $65.6 million to expand in the medical cannabis market. This move highlights the growing M&A activity in the cannabis industry, driven by valuation disparities and cost of capital advantages for larger MSOs like Curaleaf, Green Thumb Industries, and Trulieve Cannabis.

Portfolio Pulse from Nicolás Jose Rodriguez

June 26, 2024 | 5:57 pm

BX

Blackstone is considering various options for its $5 billion consultancy business, which could include a sale or other strategic moves.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:53 pm

B

Barnes Group is exploring strategic options, including a potential sale, and is working with advisers to solicit interest.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:52 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) has acquired a 60% stake in Block STP02 in São Tomé and Príncipe, expanding its exploration efforts in Africa. The company's shares are trading lower, down 2.10% at $66.22. Investors can gain exposure to TTE via ETFs such as First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA: EIPX) and Keating Active ETF (NASDAQ: KEAT).

Portfolio Pulse from Lekha Gupta

June 26, 2024 | 4:50 pm

LCID

RIVN

VWAGY

Volkswagen's $5-billion investment in Rivian has led to a surge in Rivian's stock price. Analysts have mixed ratings on Rivian, with some seeing the investment as a significant positive and others cautioning about potential dilution and competition. The investment is expected to help Rivian scale production and improve its cost position. The news also has potential positive implications for Lucid Group.

Portfolio Pulse from Chris Katje

June 26, 2024 | 3:55 pm

HLN

RDY

Haleon plc (NYSE:HLN) has agreed to sell its nicotine replacement therapy business outside of the U.S. to Dr. Reddy's Laboratories SA, a subsidiary of Dr. Reddy's Laboratories Limited (NYSE:RDY), for approximately $632 million. The transaction is expected to be completed in early Q4 2024 and will allow Haleon to focus on strategic growth areas. The divestment is expected to dilute Haleon's fiscal year 2024 net revenue and adjusted operating profit by around 0.5% and 1%, respectively.

Portfolio Pulse from Vandana Singh

June 26, 2024 | 3:52 pm

HLN

RDY

Haleon has agreed to sell its nicotine replacement therapy business outside of the U.S. to Dr. Reddy's Laboratories for £500 million.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 3:34 pm

HLN

RDY

Dr. Reddy's Laboratories Ltd. (NYSE: RDY) is set to acquire Haleon plc's (NYSE: HLN) global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category outside of the United States. The acquisition includes brands like Nicotinell, Nicabate, Thrive, and Habitrol, and covers various formats such as lozenge, patch, gum, and pipeline products.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 3:29 pm

RPD

Rapid7 shares are trading higher following a report suggesting that activist investor Jana Partners will push the company to sell itself.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 3:27 pm