Streetbeat News

Acquisitions Mergers

MGOL

MGO Global Inc. (NASDAQ:MGOL) shares surged after announcing a business combination with Heidmar, Inc., expected to close in Q3 2024. The combined company will operate under the Heidmar name and be listed on Nasdaq as 'HMAR'. The news led to a significant increase in trading volume for MGOL shares.

Portfolio Pulse from Erica Kollmann

June 20, 2024 | 4:38 pm

EBS

Emergent BioSolutions (NYSE:EBS) shares are trading higher after announcing the sale of its Baltimore-Camden facility to Bora Pharmaceuticals for $30 million. The sale aligns with Emergent's plan to become leaner and more flexible. Additionally, Benchmark analyst Robert Wasserman raised the price target for EBS from $5 to $8.

Portfolio Pulse from Dylan Berman

June 20, 2024 | 4:36 pm

NVEI

Nuvei Corporation has received final court approval for its plan of arrangement with Neon Maple Purchaser Inc., which is controlled by Advent International. This follows the approval from Nuvei's shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 4:31 pm

BG

BP

EIPX

HJEN

BP p.l.c. (NYSE:BP) is acquiring Bunge Global SA's (NYSE:BG) 50% stake in their joint venture, BP Bunge Bioenergia S.A., for $1.4 billion. This move will consolidate BP's control over the venture, enhancing its biofuels production capacity and supporting its strategic growth in bioenergy. Bunge expects net proceeds of $800 million from the sale.

Portfolio Pulse from Lekha Gupta

June 20, 2024 | 3:54 pm

MGOL

MGO Global Inc. shares are trading higher following the announcement of a business combination agreement with Heidmar.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:35 pm

EBS

Emergent Biosolutions shares are trading higher following the announcement of the sale of its Baltimore-Camden manufacturing site to Bora Pharmaceuticals for $30 million. Benchmark has maintained a Buy rating on the stock and raised its price target from $5 to $8.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:34 pm

GMS

GMS Inc. (NYSE:GMS) reported Q4 fiscal 2024 net sales of $1.413 billion, surpassing expectations. Despite this, the company faces near-term challenges in Wallboard and Steel margins. Adjusted EPS missed estimates, and operating margins declined. GMS repurchased shares and made acquisitions, but shares traded lower by 6.94%.

Portfolio Pulse from Akanksha Bakshi

June 20, 2024 | 2:53 pm

ACI

KR

Kroger anticipates a decline in 2Q adjusted EPS similar to the drop experienced in 1Q. An executive has affirmed the company's readiness to defend its merger with Albertsons.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 2:25 pm

DIS

SONY

UMGNF

Sony Group Corp. (NYSE:SONY) is set to acquire Queen's music catalog for over $1 billion, securing recording and publishing rights, including royalties from Disney Music Group and Universal Music Group NV (OTC:UMGNF). The deal will make Sony the global distributor and owner of all Queen content by 2026 or 2027.

Portfolio Pulse from Franca Quarneti

June 20, 2024 | 2:24 pm

NXT

Nextracker has acquired Ojjo for $119 million in an all-cash transaction. This acquisition aims to enhance Nextracker's integrated solar solutions with Ojjo's foundation technology for utility-scale ground-mount applications, providing EPCs and solar power plant developers with comprehensive solutions for various soil conditions.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 1:56 pm