Streetbeat News

Acquisitions Mergers

BHP

GLDG

MUX

BHP seeks an extension for its $50 billion takeover bid for Anglo American, citing complex deal structures. GoldMining begins drilling at its São Jorge Gold Project in Brazil. Ivanhoe Electric advances its Santa Cruz Copper Project with new consultants. McEwen Mining announces a $22 million public financing for its Fox Complex in Ontario.

Portfolio Pulse from austin@walkonholdings.com

May 29, 2024 | 8:10 pm

AZN

FUSN

Fusion Pharmaceuticals shareholders have approved the acquisition by AstraZeneca. The deal involves AstraZeneca acquiring all issued and outstanding shares of Fusion Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 8:10 pm

TMUS

USM

T-Mobile US, Inc. (NASDAQ:TMUS) announced its acquisition of United States Cellular Corp (NYSE:USM) for $4.4 billion, acquiring 4.5 million retail mobile customers and 30% of USM's wireless spectrum. Benchmark analyst Matthew Harrigan reiterated a Buy rating on TMUS with a price target of $200, highlighting the deal's alignment with T-Mobile's M&A strategy. The acquisition is expected to bolster T-Mobile's 5G leadership and market expansion, though it may face antitrust scrutiny.

Portfolio Pulse from Anusuya Lahiri

May 29, 2024 | 7:50 pm

BABA

CROX

SKX

Golden Goose, a high-end sneaker brand favored by celebrities like Taylor Swift, is going public with a $3.3 billion valuation. The company will list in Milan, but U.S. investors may still be able to buy shares through ADRs or direct listings. Comparisons are made to U.S. brands Crocs and Skechers, both valued at around $10 billion.

Portfolio Pulse from Aaron Bry

May 29, 2024 | 7:32 pm

BITF

MARA

RIOT

Riot Platforms (NASDAQ:RIOT) has proposed to acquire Bitfarms Ltd. (NASDAQ:BITF) and accumulated a 9.25% stake. Analysts believe this acquisition could make Riot the largest publicly traded Bitcoin miner by 2024, surpassing Marathon Digital Holdings (NASDAQ:MARA). The acquisition would diversify Riot's power footprint and increase its mining capacity significantly.

Portfolio Pulse from Nabaparna Bhattacharya

May 29, 2024 | 6:59 pm

COP

IEO

MRO

WEEI

ConocoPhillips (COP) is acquiring Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion. Roth MKM analyst Leo Mariani expects a negative short-term reaction for COP, but sees long-term benefits. The deal is expected to be accretive to COP's earnings and cash flow. Mariani maintains a Buy rating on COP with a $144 price target.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 6:54 pm

GVH

Globavend Holdings, Inc. (NASDAQ:GVH) shares are trading higher following the announcement of a nonbinding memorandum of understanding to acquire Top Logistics Australia. The acquisition aligns with Globavend's strategy to expand its presence in Australia, leveraging the growing eCommerce market.

Portfolio Pulse from Dylan Berman

May 29, 2024 | 6:12 pm

USM

United States Cellular shares are trading lower after a previous gain on Tuesday when T-Mobile announced an agreement to acquire the company's wireless operations.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 6:01 pm

ACN

ADBE

Accenture Plc (NYSE:ACN) shares are trading slightly lower today. Accenture Song has been appointed as the global creative and content agency of record for Randstad NV (OTC:RANJY), focusing on marketing transformation using AI and creative content. Additionally, Accenture has agreed to acquire Partners in Performance and OPENSTREAM HOLDINGS to enhance its services across various sectors.

Portfolio Pulse from Nabaparna Bhattacharya

May 29, 2024 | 5:48 pm

NVDA

Cloud computing startup CoreWeave, backed by Nvidia, is preparing for an IPO in 2025. This move could have significant implications for Nvidia, given its investment in CoreWeave.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 5:41 pm