Streetbeat News

Acquisitions Mergers

NU

Nubank has acquired Hyperplane, a data intelligence company, to enhance its AI capabilities and provide more personalized financial services. The acquisition aims to integrate Hyperplane's systems seamlessly into Nubank's platform, offering immediate benefits to customers.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 2:21 pm

HITI

High Tide Inc. (NASDAQ:HITI) will acquire a retail cannabis store in Mississauga, Ontario, for CA$600,000 ($438,417). The store, Cantopia, generated annualized revenue of CA$2.3 million and annualized Adjusted EBITDA of $400,000 for the three months ended May 31, 2024. The acquisition aligns with High Tide's strategy of focusing on high-quality M&A opportunities.

Portfolio Pulse from Nina Zdinjak

June 26, 2024 | 1:45 pm

IJH

SCHD

WHR

Whirlpool Corp (NYSE: WHR) stock surged on Wednesday following reports that Robert Bosch GmbH is considering a bid for the U.S. appliance manufacturer. This potential acquisition would enhance Bosch's presence in the white goods market. Whirlpool has recently restructured its operations and sold off some of its businesses. The stock has lost over 39% in the last 12 months but gained 17.50% on the news. Investors can also gain exposure to Whirlpool through the iShares Core S&P Mid-Cap ETF (NYSE: IJH) and the Schwab US Dividend Equity ETF (NYSE: SCHD).

Portfolio Pulse from Anusuya Lahiri

June 26, 2024 | 1:38 pm

GDST

Goldenstone Acquisition and Infintium Fuel Cell Systems have announced a business combination agreement. The combined company will operate as Infintium Fuel Cell Systems Holdings and will be listed on Nasdaq. Infintium's advanced hydrogen fuel cell technologies aim to drive the adoption of carbon-free power for major automotive, industrial, and retail companies.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 1:20 pm

BX

GSK

JNJ

SNY

Sanofi SA (NASDAQ:SNY) is seeking bids for its $20 billion consumer health division, which includes products like Icy Hot. Potential buyers include Advent, PAI Partners, Blackstone Inc (NYSE:BX), and others. Sanofi may retain a minority stake post-sale. This move aligns with industry peers like GSK Plc (NYSE:GSK) and Johnson & Johnson (NYSE:JNJ), who have also divested their consumer divisions.

Portfolio Pulse from Vandana Singh

June 26, 2024 | 1:16 pm

HAYW

Hayward Holdings, Inc. (HAYW) has acquired ChlorKing to enhance its portfolio in sustainable and energy-efficient pool technology for both commercial and residential markets. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 1:16 pm

VVI

Viad Corp (VVI) is set to expand its Pursuit collection with the acquisition of Jasper SkyTram for $18 million. The acquisition is expected to add $4 million in revenue, with a total payment of C$25 million.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 1:04 pm

LFSWF

Simply Solventless Concentrates Ltd. (TSXV:HASH) is acquiring Lifeist Wellness Inc.'s (TSXV:LFST) subsidiary CannMart Inc. The acquisition includes a services agreement where SSC will manage CannMart's operations and receive its revenue minus a service fee. The purchase price includes cash, units, and a vendor takeback note. SSC also announced a private placement of units to raise $3.5 million.

Portfolio Pulse from Jelena Martinovic

June 26, 2024 | 12:58 pm

RDY

Dr. Reddy's Laboratories Switzerland has acquired Haleon Group's nicotine replacement therapy brands outside the US for GBP 458 million, with an additional contingent payment of up to GBP 42 million in 2025 and 2026.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 11:53 am

VSTO

Vista Outdoor shares are trading higher after MNC Capital Partners announced it has increased its all-cash offer to acquire the company to $42 per share.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 11:43 am