Streetbeat News

Acquisitions Mergers

CVX

HES

IYE

XLE

The merger between Hess Corporation (NYSE:HES) and Chevron Corporation (NYSE:CVX) is delayed due to an incomplete arbitration panel. This delay affects the decision on whether Exxon Mobil has a right of first refusal over Hess' Guyana operations. The final arbitrator has not been appointed, potentially pushing the decision to the end of 2024. Despite a favorable shareholder vote for the merger, the timeline remains uncertain.

Portfolio Pulse from Lekha Gupta

June 21, 2024 | 1:44 pm

SHCR

Sharecare (SHCR) is set to be acquired by an affiliate of Altaris for $1.43 per share in cash, representing an 85% premium over the last closing price. Shareholders will receive immediate cash value, and the company will become privately held post-acquisition.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 1:26 pm

AXP

SQSP

Squarespace has announced the sale of its Tock platform to American Express for $400 million. This move is expected to streamline Squarespace's focus on its core business while allowing American Express to expand its digital offerings.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 1:05 pm

APLE

HLT

Apple Hospitality REIT has acquired the Embassy Suites by Hilton Madison Downtown for approximately $79.5 million.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 1:03 pm

CG

Carlyle Group is moving forward with the sale of the Italian fashion brand Twinset, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 12:31 pm

OCTO

Eightco Holdings Inc. has entered into several agreements on June 14, 19, and 20, 2024, resulting in an increase in stockholders' equity by approximately $12.9 million.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 12:10 pm

BA

EADSY

ITA

PPA

SPR

Boeing Co. (NYSE:BA) is nearing a deal to reacquire Spirit AeroSystems Holdings Inc. (NYSE:SPR) to stabilize its supply chain. The negotiations, which faced challenges due to Spirit's work with Airbus SE (OTC:EADSY), are reportedly making good progress. Spirit AeroSystems is under financial strain, and Boeing's interest is partly driven by the need for investment in digital production systems. Boeing's stock has lost over 16% in the last 12 months, and investors can gain exposure via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Shivani Kumaresan

June 21, 2024 | 11:55 am

BA

SPR

Reuters reported that Boeing is nearing a deal to buy back Spirit AeroSystems after months of talks. This potential acquisition could have significant implications for both companies.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 10:35 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) has agreed to acquire Shoreline.io, a software startup, for $100 million. This acquisition aims to diversify Nvidia's revenue sources and reduce reliance on major cloud computing players like Microsoft and Amazon. Shoreline.io specializes in software that automates issue resolution in computer systems.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 10:15 am

PAC

Grupo Aeroportuario del Pacífico (PAC) has utilized a Ps. 875M loan to acquire 51.5% of the shares of Guadalajara World Trade Center, S.A. de C.V. (GWTC). The acquisition was announced on June 11.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 6:56 am