Streetbeat News

Acquisitions Mergers

APIE

AVIV

SONY

Sony Group Corp’s Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema, marking a significant expansion into the theatrical exhibition sector. The acquisition includes all 35 locations and the continuation of Fantastic Fest. This move aims to revitalize audience interest in theatrical experiences amid a downturn in box-office sales in major U.S. cities.

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 1:57 pm

JPM

LLY

NVO

JPMorgan Chase & Co. has secured over $500 million for a biotech venture capital fund focusing on weight-loss drugs, particularly GLP-1 drugs. The fund, led by Steve Squinto and Gaurav Gupta, aims to capitalize on the booming demand in the healthcare sector. Novo Nordisk and Eli Lilly currently dominate the market, but the fund anticipates more significant winners in the future.

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 1:26 pm

F

Ford Motor Co (NYSE:F) has been actively recruiting talent from Rivian, Tesla, Apple, and other companies to build its low-cost EV team. The team has grown to around 300 employees, including significant hires from Rivian, Tesla, Canoo, Lucid, and Apple's disbanded Car team. Ford's acquisition of Auto Motive Power (AMP) in late 2023 added over 100 employees to the team. Ford aims to create lower-cost EVs to meet customer demand and compete with Tesla and Chinese EV makers. Despite increased EV sales, Ford expects its EV division to post a significant EBIT loss in 2024.

Portfolio Pulse from Anan Ashraf

June 13, 2024 | 1:21 pm

LBTYA

WBD

Liberty Global is set to acquire Warner Bros. Discovery's shares in Formula E, resulting in a 65% stake and controlling interest in the electric car racing series.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:17 pm

WRK

WestRock stockholders have approved the transaction agreement and other proposals related to the combination with Smurfit Kappa.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:13 pm

FBIN

Fortune Brands Innovations, Inc. (NYSE:FBIN) has acquired a minority stake and entered into a strategic partnership with Value Hybrid Global, S.L., a software and SaaS startup specializing in connected lockout tagout (cLOTO) solutions. This partnership aims to enhance Master Lock's product offerings in commercial safety solutions.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:09 pm

CLPS

CLPS Incorporation (NASDAQ:CLPS) has acquired Shell Infotech, expanding its client base and market share in Southeast Asia, and strengthening its IT competencies and service offerings. This move solidifies CLPS's commitment to global expansion.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 12:34 pm

VNDA

Vanda Pharmaceuticals shares are trading higher after Future Pak increased the cash portion of its offer to $8.50-$9.00 per share.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 12:19 pm

VNDA

Future Pak has increased the cash portion of its offer for Vanda Pharmaceuticals by $0.75-$1.25, bringing the total offer to $8.50-$9.00.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 12:18 pm

SHEL

Shell is set to acquire Pavilion Energy assets from Temasek, expanding its LNG market reach in Europe and Singapore. The deal, valued in the hundreds of millions of dollars, will make Shell the largest gas supplier in Singapore. This acquisition aligns with Shell's LNG market growth ambitions.

Portfolio Pulse from Benzinga Neuro

June 13, 2024 | 10:40 am