Streetbeat News

Acquisitions Mergers

SPR

Spirit AeroSystems Holdings shares are trading lower after Boeing proposed to acquire the company in a deal valuing the supplier at approximately $35 per share.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 11:30 am

GRAL

ILMN

Illumina Inc. (NASDAQ:ILMN) announced the spin-off of Grail Inc. (NASDAQ:GRAL), a cancer blood test developer, which will start trading independently on NASDAQ. Illumina shareholders will receive one share of GRAL for every six shares of ILMN. Illumina will retain a 14.5% stake in Grail. The spin-off follows regulatory challenges and a significant fine from the European Commission. Grail's CEO highlighted the potential of their cancer blood test, Galleri, which is undergoing clinical trials to support FDA approval by 2026.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 11:17 am

International Paper Company has announced the expiration of the waiting period under the Hart-Scott-Rodino Act for its proposed combination with DS Smith. This regulatory milestone is a significant step towards the completion of the merger.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 11:11 am

AVDE

AVSD

UBS

UBS Group AG is selling a 36.01% stake in one of its securities joint ventures in China to comply with local regulations. The stake is being sold to Beijing State-owned Asset Management (BSAM) for $91.4 million. This move follows UBS's merger with Credit Suisse and aims to consolidate its operations in China. UBS shares are trading lower, down 1.99% premarket.

Portfolio Pulse from Lekha Gupta

June 25, 2024 | 10:08 am

Kennedy Wilson (NYSE:KW) has acquired Heathrow Estate, a multi-let industrial property in West London, for $111 million. The property, which is 84% leased, offers opportunities for value addition through lease extensions and vacancy leasing. This acquisition expands Kennedy Wilson's global industrial platform to over 12 million square feet, representing $2.1 billion in AUM.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:05 am

ALIM

ANIP

CCL

FDX

NVDA

SNX

The Nasdaq Composite experienced its worst session since April, with Nvidia plunging 7%. The Dow Jones saw modest gains, closing over 260 points higher. Alimera Sciences surged 76% after announcing an acquisition by ANI Pharmaceuticals. Investors are awaiting earnings results from Carnival Corporation, FedEx, and TD SYNNEX.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 6:45 am

CCL

FDX

SEDG

SNX

SPR

Key stocks to watch on Tuesday include Carnival Corporation, Boeing, Spirit AeroSystems, TD SYNNEX, SolarEdge Technologies, and FedEx. Carnival and FedEx are expected to report earnings, Boeing proposed to acquire Spirit AeroSystems, TD SYNNEX will release earnings, and SolarEdge announced a $300 million convertible notes offering.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 6:33 am

SPR

Boeing Co. (NYSE:BA) has proposed to acquire Spirit AeroSystems Holdings Inc. (NYSE:SPR) in a deal valued at $35 per share, primarily funded by stock. This move aims to alleviate Boeing's financial pressure and regain control over the quality of its jetliner structures. The acquisition comes as Boeing faces potential criminal charges related to the 737 Max crashes.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 4:04 am

Ready Capital's division iBusiness Funding has entered into a share purchase agreement to acquire FC USA and its subsidiaries, contingent on the return of its SBLC license to the SBA. Ready Capital CEO Thomas Capasse expects the acquisition to significantly boost revenue and earnings.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 9:12 pm

BTSG

BrightSpring Health has announced a definitive agreement to acquire the assets of Haven Hospice, a Florida-based company, for a total consideration of $60 million. The acquisition includes $15 million in cash, $30 million in company equity, and a $15 million seller note payable four years after closing.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 9:00 pm