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Acquisitions Mergers

PARA

PARAA

Paramount Global's Co-CEOs have rescheduled their Wednesday town hall to June 25 due to ongoing speculation about potential mergers and acquisitions.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 7:38 pm

ATMP

EINC

TRP

TC Energy Corporation (NYSE:TRP) shareholders have approved the spin-off of its liquids pipeline business into a new company, South Bow Corp. This move aims to reduce TC Energy's debt and allow it to focus on natural gas transportation. South Bow Corp will inherit significant assets, including the Keystone oil pipeline, and will be listed on the Toronto and New York stock exchanges. Analysts have mixed views on South Bow's valuation due to its limited asset base and slower growth projections.

Portfolio Pulse from Lekha Gupta

June 04, 2024 | 5:23 pm

PARA

PARAA

Producer Ellison has reduced the payout to the Redstone family by $250 million. The latest offer from National Amusements is now $2.25 billion.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 5:10 pm

RLAB

Real American Capital, trading as M2MMA, has acquired Cape Town-based Thaiholics Fight Promotions.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 5:09 pm

SGC

Superior Group of Companies Inc (NASDAQ:SGC) is set for growth in the $4.1 billion healthcare apparel market, supported by macro trends and six acquisitions over the past seven years. DA Davidson's analyst Keegan Cox initiated coverage with a Buy rating and a price target of $24. The company's Contact Center business is expected to drive continued revenue growth and profitability.

Portfolio Pulse from Priya Nigam

June 04, 2024 | 4:27 pm

SNOW

Databricks is acquiring data-optimization startup Tabular, which specializes in the Apache Iceberg format, for an estimated $1-2 billion. This move is seen as a direct challenge to Snowflake, which has also made Iceberg-related announcements. The acquisition aims to enhance Databricks' product offerings and competitiveness against Snowflake.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 4:12 pm

SSY

SunLink Health Systems Inc (NASDAQ:SSY) shares surged by 13.4% to $0.68 after announcing the sale of its Trace Extended Care & Rehab facility for $7.1 million. The proceeds will be used for working capital and general corporate purposes, resulting in a pre-tax gain of $5.7 million in Q4. This aligns with SunLink's strategy to improve operations and consider strategic transactions.

Portfolio Pulse from Henry Khederian

June 04, 2024 | 3:36 pm

FTDR

Frontdoor, Inc. (NASDAQ:FTDR) has announced the acquisition of 2-10 Home Buyers Warranty for $585 million in cash. The deal is expected to close in Q4 2024 and will expand Frontdoor's market into new home segments, boosting earnings and providing cross-selling opportunities.

Portfolio Pulse from Lekha Gupta

June 04, 2024 | 3:31 pm

LUXH

LuxUrban Hotels Inc (NASDAQ:LUXH) shares dropped by 10.6% to $0.28 after the company announced the formation of a Special Committee to explore strategic initiatives aimed at maximizing shareholder value. The committee will consider various strategic transactions, including equity and debt financing, sales, mergers, and acquisitions. No specific timeline has been set, and the company is not currently engaged in any transaction or has hired advisors for the committee’s work.

Portfolio Pulse from Henry Khederian

June 04, 2024 | 3:28 pm

CRM

CSCO

NVDA

Canadian AI startup Cohere has raised $450 million in funding from returning investors such as Nvidia and Salesforce Ventures, as well as new investors including Cisco and Canadian pension fund PSP Investments.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 3:16 pm