Streetbeat News

Acquisitions Mergers

SAM

Boston Beer, the owner of Samuel Adams, is in early-stage talks to sell itself to Suntory, the owner of Jim Beam. Boston Beer has a market value of around $3 billion.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 6:43 pm

MET

MetLife is reportedly pursuing a deal to acquire European direct lender Hayfin, with a potential valuation exceeding €1.2 billion, according to Bloomberg sources.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 6:25 pm

PARA

PARAA

Paramount's board of directors is set to recommend the latest merger offer from Skydance. Additionally, Shari Redstone, the controlling shareholder, has received interest from two parties for National Amusements.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 5:06 pm

CMCSA

DIS

Disney and Comcast are tens of billions apart in their valuations of Hulu, leading to an impasse in final negotiations. RBC Capital has been selected as the independent appraiser to resolve the valuation dispute.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 4:42 pm

CSE:RWB

Canadian cannabis company Red White & Bloom Brands Inc. (CSE:RWB) reported a 15% year-over-year drop in Q1 revenue, wrapping up its acquisition of Aleafia Health Inc. The acquisition expands RWB's sales channels across Canada and internationally. Despite the revenue drop, the company narrowed its net loss from CA$6.5 million to CA$3.7 million.

Portfolio Pulse from Jelena Martinovic

May 31, 2024 | 3:56 pm

CNPOF

CNTMF

Cansortium Inc. (OTCQB:CNTMF) reported a 14% increase in Q1 revenue driven by Florida cannabis sales and a reduced net loss year-over-year. The company is set to merge with RIV Capital Inc. (OTC:CNPOF), expanding its operations to cover 25% of the U.S. population.

Portfolio Pulse from Jelena Martinovic

May 31, 2024 | 3:34 pm

MARA

RIOT

The Bitcoin mining sector may present a promising investment opportunity despite recent challenges. A report by 10x Research suggests that mining stocks could see a significant upswing, with historical patterns indicating a potential rally by early June. Companies like Marathon Digital Holdings (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT) are highlighted as key players, with potential benefits from strategic accumulation and merger activities.

Portfolio Pulse from Murtuza Merchant

May 31, 2024 | 3:31 pm

CNPOF

RIV Capital Inc. reported a year-over-year increase in Q1 revenue and gross profit, ahead of its merger with Cansortium Inc. The combined company will operate in four states, covering 25% of the U.S. population. Despite the revenue growth, the company reported an operating loss and a net loss for the quarter.

Portfolio Pulse from Jelena Martinovic

May 31, 2024 | 3:30 pm

CZR

IEP

Carl Icahn has reportedly built a sizable stake in Caesars Entertainment, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 3:06 pm

NIO

Nio Power, a segment of Nio Inc. (NYSE:NIO), has secured a $207 million investment led by Wuhan Guangchuang Emerging Technology Venture Capital Fund Phase I. The funds will support Nio Power's expansion in charging, battery swapping, energy storage, and related services. Nio Inc. did not disclose the valuation or share details. The investment aims to optimize Nio Power's capital structure and support long-term development. Nio's charging infrastructure, which serves a significant number of non-Nio users, is set to expand further, reinforcing its position as a leading network in China.

Portfolio Pulse from Nabaparna Bhattacharya

May 31, 2024 | 2:50 pm