Streetbeat News

Acquisitions Mergers

ALLG

Allego (NYSE:ALLG) shares surged on Monday after its majority shareholder, Meridiam, announced a tender offer for all outstanding shares at $1.70 each, a 131% premium. Post-tender, Allego will delist from the NYSE. Meridiam also committed to long-term support for Allego's growth.

Portfolio Pulse from Dylan Berman

June 17, 2024 | 3:43 pm

UNFI

United Natural Foods (UNFI) shares are moving higher as traders circulate takeover chatter. The company has faced issues with its SuperValu purchase, leaving it in a challenging position.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 3:04 pm

EVI

EVI Industries, Inc. (NYSE American: EVI) has announced the acquisition of Laundry Pro of Florida, Inc., a distributor of commercial laundry products. The acquisition is expected to increase EVI's market share in Florida and enhance its growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 2:31 pm

AAN

ADSK

LXRX

MIRM

OUST

PRMW

XPOF

U.S. stocks were mostly lower on Monday, with the Dow Jones index falling around 0.2%. However, several stocks saw significant gains. Aaron's shares rose 32.2% after announcing an acquisition by IQVentures Holdings. Xponential Fitness, Lexicon Pharmaceuticals, Mirum Pharmaceuticals, United Homes Group, Ouster, Lufax Holding, Primo Water, Golar LNG, Autodesk, and Wayfair also recorded notable gains.

Portfolio Pulse from Avi Kapoor

June 17, 2024 | 1:59 pm

TPG

TPG has announced a strategic growth investment in K2 Medical Research to expand its CNS clinical trial platform. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 1:33 pm

MMC

Marsh McLennan's subsidiary, Oliver Wyman, is set to acquire Veritas Total Solutions. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 1:16 pm

PRMW

Primo Water shares are trading higher following the announcement of a merger agreement with BlueTriton.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 12:50 pm

ABBV

COP

NVDA

VRTX

CNBC's 'Final Trades' featured Nvidia, Vertex Pharmaceuticals, ConocoPhillips, and AbbVie. Nvidia announced a 10-for-1 stock split, Vertex revealed positive data on CASGEVY™, ConocoPhillips was recommended due to its acquisition of Marathon Oil, and AbbVie reported positive trial results for mirvetuximab soravtansine.

Portfolio Pulse from Avi Kapoor

June 17, 2024 | 12:47 pm

AAN

KAVL

NDRA

NRIX

OVID

SCNI

TRNR

Shares of Nurix Therapeutics (NRIX) surged 12.1% in pre-market trading following positive clinical trial results. Other notable pre-market movers include Scinai Immunotherapeutics (SCNI), Interactive Strength (TRNR), ENDRA Life Sciences (NDRA), and The Aaron’s Company (AAN), which saw significant gains. Conversely, Ovid Therapeutics (OVID) and Kaival Brands Innovations (KAVL) experienced substantial declines.

Portfolio Pulse from Avi Kapoor

June 17, 2024 | 12:43 pm

FOXO

Rennova Health has entered into two stock exchange agreements with FOXO Technologies. Rennova's equity in Myrtle Recovery Centers was exchanged for $500,000 of FOXO common stock, and equity in Rennova Community Health will be exchanged for $20 million of FOXO convertible preferred stock. The Myrtle transaction closed on June 14, 2024, while the Rennova Community Health transaction is expected to close in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 12:39 pm