Streetbeat News

Acquisitions Mergers

ZIMV

ZimVie shares are trading higher following a report suggesting that the company is considering a potential sale.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:22 pm

HUT

Hut 8 Corp. (NASDAQ:HUT) shares are trading higher after announcing a $150 million strategic investment from Coatue Management to build an AI infrastructure platform. The convertible note has a 5-year term, 8% interest rate, and a conversion price of $16.395 per share. Analysts have updated their ratings, with most maintaining a Buy rating and raising price targets. Hut 8 shares have gained over 50% in the past month.

Portfolio Pulse from Erica Kollmann

June 25, 2024 | 5:18 pm

ZIMV

Needham has issued a note stating that ZimVie (ZIMV) is reportedly fielding takeout offers. The firm estimates that ZIMV could be worth $25-$29 per share in a potential acquisition.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:09 pm

SNY

Sanofi is seeking bids for its $20 billion consumer arm by mid-July. Top suitors include Advent, PAI, Blackstone, CD&R, CVC, and TPG.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:53 pm

X

Nippon Steel's $14.9 billion bid to acquire U.S. Steel faces significant opposition from the United Steelworkers union and political figures, including President Biden and former President Trump. The union is concerned about potential job losses and plant closures, despite Nippon's promises. The deal's future is uncertain, with ongoing investigations and political pressure.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:51 pm

IFBD

Infobird Co is considering expanding its operations into mainland China either organically or through a merger and acquisition with a target company.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:42 pm

DEC

Diversified Energy Company PLC (NYSE:DEC) has completed the acquisition of certain assets from Oaktree Capital Management. Truist Securities initiated coverage with a Buy rating and a price target of $18, citing high free cash flow yield, fixed dividend, and upcoming addition to the Russell 2000. The company has a lower base production decline compared to its peers and a strong track record of acquisitions.

Portfolio Pulse from Priya Nigam

June 25, 2024 | 4:36 pm

BIIB

Biogen Inc. (BIIB) has up to $10 billion available for mergers and acquisitions (M&A) as it seeks to expand its portfolio. This move indicates Biogen's strategic focus on growth through acquisitions.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:20 pm

BA

SPR

Boeing has proposed to acquire Spirit Aerosystems for approximately $35 per share, causing Spirit Aerosystems' stock to drop by 6.23% and Boeing's stock to fall by 1.74%. The acquisition aims to help Boeing regain control over the quality of its jetliner structures amid ongoing federal investigations.

Portfolio Pulse from Erica Kollmann

June 25, 2024 | 4:02 pm

BX

Blackstone Europe LLP has revised its offer for Hipgnosis, entitling each Hipgnosis shareholder to receive $1.31 per share in cash. This values Hipgnosis' entire issued and to be issued ordinary share capital at approximately $1.584 billion.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:35 pm