Streetbeat News

Acquisitions Mergers

DDC

DDC Enterprise Limited (AMEX:DDC) shares surged 339% to $2.27 after announcing the acquisition of the Asian food brand Omsom. The acquisition, paid in cash and stock over four years, is expected to drive product innovation and improve financial metrics. The company aims to enhance synergies and resource integration with its other U.S. brands, Nona Lim and Yai’s Thai. Trading volume spiked to over 49 million shares, significantly higher than the 100-day average of 29,000 shares.

Portfolio Pulse from Erica Kollmann

June 12, 2024 | 3:49 pm

BTTR

KKR

LLY

NVO

The success of weight loss drugs for humans, such as Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Zepbound, could potentially extend to the pet market. Companies like Okava Pharmaceuticals and Vivani Medical are developing weight loss drugs for pets, while Better Choice Company has acquired Aimia Pet Healthco to develop GLP-1 drugs. Despite skepticism from veterinary experts, the pet industry is projected to grow, and the introduction of such drugs could replicate the success seen in the human market.

Portfolio Pulse from Hayden Buckfire

June 12, 2024 | 3:42 pm

DDC

DayDayCook shares are trading higher following the announcement of its acquisition of Omsom.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 3:36 pm

PARA

Paramount Global (NASDAQ:PARA) stock is trading lower following a report that National Amusements has ended merger discussions with Skydance Media. National Amusements, which controls Paramount, stated that they could not reach mutually acceptable terms for the acquisition of a controlling stake in NAI. As a result, Paramount Global shares are down 7.85% to $11.04.

Portfolio Pulse from Dylan Berman

June 12, 2024 | 3:04 pm

GRPM

MTDR

NSCS

Matador Resources Company (NYSE:MTDR) has announced a $1.905 billion acquisition of Ameredev II’s oil and gas properties in New Mexico and Texas, including a 19% stake in Piñon Midstream, LLC. The deal, expected to close in Q3 2024, will significantly expand Matador's footprint in the Delaware Basin, increasing its net acres, production, and reserves. The acquisition is projected to generate forward one-year Adjusted EBITDA of $425 to $475 million. Matador has secured financing commitments from PNC Bank for the all-cash transaction.

Portfolio Pulse from Lekha Gupta

June 12, 2024 | 2:59 pm

ABBV

AbbVie executive announced that the company will continue to pursue deals in the immunology sector.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 2:24 pm

BITF

RIOT

Riot Platforms Inc (NASDAQ:RIOT) shares are volatile amid a potential takeover attempt of Bitfarms Ltd (NASDAQ:BITF). Riot has built a 12% stake in Bitfarms, which has adopted a shareholder rights plan to counter the takeover. Riot criticized the plan as 'shareholder unfriendly.'

Portfolio Pulse from Adam Eckert

June 12, 2024 | 2:13 pm

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) has made a significant minority investment of $850 million in Quick Quack Car Wash, a rapidly growing car wash chain in the U.S. This investment is expected to drive Quick Quack's growth through innovation, marketing, and expansion. KKR shares are up 2.17% premarket.

Portfolio Pulse from Lekha Gupta

June 12, 2024 | 1:18 pm

DDC

DayDayCook (NYSEAM:DDC) has acquired the Asian food brand Omsom. The acquisition, paid out over four years with a combination of cash and stock, aims to accelerate product innovation and streamline operations. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 1:08 pm

SLP

QHP Capital, L.P. has announced the sale of Pro-ficiency, LLC, a provider of tech-enabled training and compliance solutions for clinical trial investigators, to Simulations Plus, Inc. (NASDAQ:SLP). No financial terms were disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 1:01 pm