Streetbeat News

Acquisitions Mergers

CYTK

Cytokinetics CEO Robert Blum emphasized the company's ability to independently launch its heart drug, aficamten, despite acquisition speculation following positive Phase 3 results. Investors are concerned about the biotech's resources to compete with larger pharma companies.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 2:50 pm

GSK

HLN

PFE

GSK plc (NYSE:GSK) has sold its remaining 4.2% stake in Haleon plc (NYSE:HLN) for $1.58 billion, fully exiting its position. This follows a series of disposals since Haleon's demerger and premium listing in July 2022. Pfizer Inc (NYSE:PFE) also plans to reduce its stake in Haleon to approximately 24%.

Portfolio Pulse from Vandana Singh

May 17, 2024 | 2:45 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) has launched a $250 million at-the-market equity program to fund strategic investments and acquisitions, particularly in anticipation of U.S. cannabis rescheduling. The shares will be sold intermittently at prevailing market prices.

Portfolio Pulse from Patricio Liddle

May 17, 2024 | 1:15 pm

PHIO

Phio Pharmaceuticals has entered into a purchase agreement with TRITON Funds, where TRITON will purchase 18.8% of Phio's common shares, yielding gross proceeds of up to $621,000.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 1:03 pm

CNXA

Connexa Sports Technologies is set to acquire Yuanyu Enterprise Management by issuing 162.6 million shares to complete the transaction. Additionally, a change-in-control and spin-off of Slinger Bag has received shareholder consent. These transactions are pending Nasdaq approval.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 1:02 pm

GOOG

GOOGL

LRNZ

META

SNOW

SPRX

Snowflake Inc (NYSE:SNOW) is in talks to acquire Reka AI for over $1 billion to boost its generative AI capabilities. Reka AI, founded by former Google and Meta researchers, specializes in large language models. Snowflake's stock has declined over 5% this year, and analysts have flagged potential growth slowdowns due to competition and customer transitions. Investors can gain exposure to Snowflake through the Spear Alpha ETF (NASDAQ:SPRX) and the TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 12:47 pm

ADBE

CRM

GOOG

GOOGL

MSFT

ORCL

Figma announced a new equity offering at a $12.5 billion valuation, which is lower than Adobe's previous $20 billion acquisition offer. The tender offer will allow investors, including employees, to sell shares, and is backed by over 25 investors. Adobe and Figma terminated their acquisition deal last December due to regulatory hurdles. Figma's tools are widely used by major corporations like Microsoft, Google, Oracle, and Salesforce.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 12:44 pm

BNIX

Bannix Acquisition Corp. has extended its business combination date from May 14, 2024, to June 14, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:33 pm

LIVE

Live Ventures has acquired Central Steel Fabricators, though the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:32 pm

ACN

Accenture (NYSE:ACN) announced the acquisition of OPENSTREAM HOLDINGS in Japan, adding 1,000 professionals to its cloud and digital engineering teams. The acquisition aims to enhance Accenture's capabilities in logistics, retail, automotive, and manufacturing industries. Additionally, Accenture Ventures invested in Turbine, a predictive simulation company for biopharma. ACN shares are trading slightly lower.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 12:11 pm