Streetbeat News

Acquisitions Mergers

ENB

Enbridge has filed prospectus supplements to enable an at-the-market (ATM) equity issuance funding option for its acquisitions. This allows Enbridge to issue and sell up to $2.75 billion of common shares at market prices.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 11:05 am

CRGY

SBOW

Crescent Energy is in advanced talks to acquire SilverBow Resources for $2.1 billion. This acquisition could significantly impact both companies' stock prices in the short term.

Portfolio Pulse from Charles Gross

May 16, 2024 | 10:41 am

AIG

CRBG

AIG has agreed to sell 120 million shares of its Corebridge common stock to Nippon Life Insurance for $31.47 per share, totaling $3.8 billion. The shares represent 20% of Corebridge's outstanding shares. AIG will retain a 9.9% stake in Corebridge for two years post-closing, expected by Q1 2025, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 10:20 am

SLGL

Sol-Gel has signed an asset purchase agreement with Shenzhen Beimei to commercialize TWYNEO in China, Hong Kong, Macau, Taiwan, and Israel. Sol-Gel will receive $10 million upfront and up to $5 million in royalty payments.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 10:12 am

MAC

Macerich has acquired the remaining 40% share of Arrowhead Towne Center and South Plains Mall for $36.5M plus debt, giving it full ownership of both properties. Additionally, Macerich has a contract to sell an open-air asset, expected to generate $110M in net proceeds.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 10:08 am

ACN

Accenture has announced a strategic investment in predictive simulation company Turbine through Accenture Ventures. The terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 10:04 am

AMZN

APO

CMCSA

PARA

RPV

SONY

XLC

Paramount Global (NASDAQ:PARA) is in discussions with Amazon (NASDAQ:AMZN) to expand their media partnership, potentially involving bundling sales of channels and advertising. Paramount is also in talks with Comcast (NASDAQ:CMCSA) for a streaming joint venture. Additionally, Paramount is evaluating acquisition proposals from David Ellison and Apollo Global Management (NYSE:APO), which is collaborating with Sony Group (NYSE:SONY). PARA stock has declined over 17% in the past year but saw a 1.87% increase recently.

Portfolio Pulse from Shivani Kumaresan

May 16, 2024 | 10:01 am

MOR

NVS

Novartis has met all tender offer conditions to acquire Morphosys for EUR 68 per share in cash. The company secured 79.6% acceptance from Morphosys shareholders, surpassing the minimum 65% acceptance threshold.

Portfolio Pulse from Charles Gross

May 16, 2024 | 9:46 am

HUDA

ZK

Chinese EV maker Aiways will go public via a merger with U.S. SPAC Hudson Acquisition Corp (NASDAQ:HUDA) in a deal valuing Aiways at $400 million. This follows the successful New York debut of Geely's Zeekr (NYSE:ZK).

Portfolio Pulse from Anan Ashraf

May 16, 2024 | 8:09 am

AES

AES has agreed to sell its equity interest in AES Brasil to Auren Energia for approximately $640 million. This sale will be completed alongside a merger between AES Brasil and Auren Energia, with AES Brasil shares valued at around 11.55 Brazilian Real per share before purchase price adjustments.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 7:19 am