Streetbeat News

Acquisitions Mergers

SOUN

SoundHound AI has announced the acquisition of key assets from Allset, enhancing its voice AI capabilities for ordering food from vehicles, phones, and smart devices. Allset's team will join SoundHound, strengthening its innovation and capabilities.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 1:28 pm

CARR

GCAD

HON

PPA

Honeywell International Inc. (NASDAQ: HON) announced an agreement to acquire CAES Systems Holdings LLC for $1.9 billion in an all-cash transaction. The acquisition is expected to boost Honeywell's defense business and adjusted earnings per share in the first full year of ownership. The deal is anticipated to close in the second half of 2024, pending customary closing conditions and regulatory approvals. Honeywell's stock is down 0.23% premarket following the announcement.

Portfolio Pulse from Lekha Gupta

June 20, 2024 | 1:22 pm

AMK

MORN

AssetMark has announced a strategic alliance with Morningstar Wealth, acquiring $12 billion in assets from Morningstar Wealth's turnkey asset management platform. This move will allow financial advisors and clients to access AssetMark's platform with seamless account migration.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 1:20 pm

SISI

Shineco has entered into a Letter of Intent (LOI) with Meitong Technology to address China's aging population. Shineco plans to invest $20 million in Meitong Technology for an 80% stake.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 1:01 pm

CRON

Cronos Group has announced a $51 million investment in GrowCo's expansion, including a secured credit facility to fund the growth of a cannabis facility. Cronos will gain an option to purchase up to 70% of the expanded facility's production, and financial consolidation of the joint venture will begin in Q3 2024. Additionally, the GrowCo board will expand with three Cronos-appointed members.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 12:59 pm

UPST

Castlelake has announced plans to purchase up to $1.2 billion of consumer installment loans from Upstart. This move is expected to provide Upstart with significant liquidity and could positively impact its financial stability and growth prospects.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 12:51 pm

DOW

Dow has announced an agreement to acquire Circulus, which will add 50,000 metric tons of recycled materials capacity annually. The transaction includes facilities in Oklahoma and Alabama and is expected to close in Q3 2024, pending regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 12:50 pm

ACN

Accenture (NYSE: ACN) reported Q3 fiscal 2024 sales of $16.47 billion, slightly below analyst expectations but within the company's guidance range. Adjusted EPS missed estimates, but new bookings were strong at $21.06 billion. The company highlighted $2 billion in Generative AI sales and announced a quarterly dividend. Shares are up 8.99% premarket.

Portfolio Pulse from Anusuya Lahiri

June 20, 2024 | 12:30 pm

EVO

Evotec is consulting defense advisers following a significant share selloff amid concerns of a potential takeover. Several buyout firms are evaluating the company and its drug pipeline. The incoming CEO, Christian Wojczewski, will assess the situation before making any strategic decisions.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 12:24 pm

BEST

BEST shares are trading higher after the company announced a definitive agreement for a 'Going Private' transaction.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:49 am