Streetbeat News

Acquisitions Mergers

MCRB

Seres Therapeutics has entered into a non-binding memorandum of understanding with Nestlé Health Science for the sale of Seres' VOWST assets. The deal includes capital infusions and an upfront payment, which will help Seres retire its debt and extend its cash runway into Q4 2025. The company will focus on advancing SER-155 and other oral microbiome therapeutics.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:33 am

NVT

nVent Electric plc (NVT) has announced its acquisition of Trachte for $695 million. The deal is expected to close in Q3 and is anticipated to be accretive to adjusted EPS in the first year after completion.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:31 am

GOOGL

IYW

MSFT

XLK

Microsoft is under FTC investigation for its $650 million deal with Inflection AI, which involved hiring most of the startup's employees. The FTC is examining whether the deal was structured to avoid antitrust review. Potential penalties for Microsoft include fines and suspension of the transaction.

Portfolio Pulse from Shivani Kumaresan

June 06, 2024 | 10:25 am

VSTO

Vista Outdoor shares are trading higher after MNC Capital increased its offer to acquire the company to $39.50 per share.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:21 am

VSTO

MNC Capital Partners has increased its all-cash proposal to acquire Vista Outdoor (VSTO) to $39.50 per share, up from a prior offer of $37.50, valuing the deal at over $3 billion. The latest offer also implies a value for Revelyst of over $1 billion, compared to Vista's valuation of $570 million.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 10:17 am

BITF

RIOT

Riot Platforms Inc. (NASDAQ:RIOT) has increased its stake in Bitfarms Ltd. (NASDAQ:BITF) to 12%, acquiring 1.5 million shares at $2.45 per share. Riot plans to call for a special shareholder meeting to address corporate governance concerns at Bitfarms. This follows a rejected $1 billion acquisition proposal by Riot and a short-sell report by Kerrisdale Capital, which caused a 9% drop in Riot's share price.

Portfolio Pulse from Aniket Verma

June 06, 2024 | 2:05 am

ASTR

Astra Space has filed a definitive information statement regarding its merger agreement with Apogee Parent.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:38 pm

C

WFC

SeatGeek has added Citigroup and Wells Fargo to its IPO lineup, targeting a valuation higher than $1.35 billion. The IPO could occur as soon as this quarter or toward the end of 2024.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 6:19 pm

CYTK

Cytokinetics shares are trading higher after the company announced it was engaged in acquisition talks with a potential partner, although the negotiations did not result in an acquisition.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 5:52 pm

FLGC

IMCC

Lifeist Wellness Inc. has sold its Australian subsidiary, Australian Vaporizers Pty Ltd., to Flora Growth Corp. for CA$900,000, payable in Flora's common shares. IM Cannabis Corp. is strengthening its supply chain in Germany following recent cannabis legalization. Flora Growth's shares fell by 1.73%, and IM Cannabis shares dropped by 4.20% following the news.

Portfolio Pulse from Jelena Martinovic

June 05, 2024 | 5:48 pm