Streetbeat News

Acquisitions Mergers

BNED

Barnes & Noble Education (NYSE:BNED) shares surged 72.6% on Tuesday, driven by ongoing developments surrounding a potential strategic transaction. Activist investors Outerbridge and Greenhaven proposed a $114.5 million recapitalization, including a $57 million rights offering and a $57 million direct investment. While the board found the proposal potentially superior, Outerbridge withdrew from further discussions. Greenhaven continues to explore possible transactions.

Portfolio Pulse from Vaishali Prayag

May 21, 2024 | 8:27 pm

SELF

Global Self Storage's board has rejected a $6.15 per share acquisition proposal from Etude Storage Partners.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 8:20 pm

ETN

Eaton has acquired Exertherm, though the terms of the deal were not disclosed. This acquisition is expected to enhance Eaton's capabilities in thermal monitoring solutions.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 8:15 pm

ADSK

Autodesk, Inc. (NASDAQ:ADSK) has acquired Wonder Dynamics, a company known for its cloud-based 3D animation and VFX solution, Wonder Studio. This acquisition aims to enhance Autodesk's offerings in the 3D animation space by integrating AI with established tools, making it easier for creators to add 3D animated characters to their projects. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 8:00 pm

GPAC

USHAF

Stardust Power, a lithium refining company, is set to go public on the Nasdaq in June through a $490 million SPAC deal with Global Partner Acquisition Corp II (NASDAQ: GPAC). The company is building a lithium refinery in Oklahoma and aims to produce up to 50,000 metric tons of battery-grade lithium. The SPAC deal comes amid fluctuating lithium prices and growing EV demand. Stardust is also developing upstream lithium supply lines and has agreements with Usha Resources Ltd. (OTC: USHAF) and QX Resources Ltd.

Portfolio Pulse from Matt Whittaker

May 21, 2024 | 7:53 pm

AMD

AOTG

INTC

MSFT

NVDA

SPRX

AMD has launched the cost-effective EPYC 4004 Series CPUs aimed at small and medium businesses and IT service providers. The new processors, based on the 'Zen 4' architecture, offer significant performance improvements over Intel's Xeon E-2488 CPUs. Analysts see AMD as a key player in the AI market, second only to Nvidia, and note its market share gains in the x86 processor and merchant accelerator sectors. AMD's acquisition of Xilinx is expected to yield significant long-term revenue synergies. Investors can gain exposure to AMD through AOT Growth And Innovation ETF and Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

May 21, 2024 | 5:37 pm

BNED

Barnes & Noble Education shares are trading higher following Greenhaven's announcement that it continues to explore a possible transaction with the company. This news may lead to increased volatility in the stock.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:30 pm

INCY

Incyte (NASDAQ:INCY) has acquired two office buildings in downtown Wilmington, Delaware, marking its fourth expansion in the state since 2014. The acquisition will consolidate its U.S.-based teams to enhance their efforts in developing innovative medical solutions. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:28 pm

CLF

Cleveland-Cliffs Inc. (NYSE:CLF) criticized U.S. Steel's (NYSE:X) attempt to sell to a foreign buyer, Nippon Steel, without union support. Cleveland-Cliffs emphasized the necessity of keeping U.S. Steel American-owned and having union backing, which U.S. Steel failed to secure. The United Steelworkers (USW) union only supports Cleveland-Cliffs for the acquisition, effectively vetoing other buyers. The U.S. government also opposes the foreign sale, citing national security concerns.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:19 pm

AAUKF

BHP

COAL

CRIT

BHP Group Limited (NYSE:BHP) surged to a three-month peak amid speculation about a potential bid for Anglo American Plc (OTC:AAUKF). BHP must submit a binding bid by Wednesday or face a six-month abstention period. The stock has gained 6% in the past three months, driven by positive market conditions and investor sentiment. Investors can also gain exposure through ETFs like CRIT and COAL.

Portfolio Pulse from Nabaparna Bhattacharya

May 21, 2024 | 5:08 pm