Streetbeat News

Acquisitions Mergers

MRK

Merck has agreed to acquire Eyebiotech for an upfront payment of $1.3 billion and up to $1.7 billion in future milestone payments, making the potential total value of the deal $3 billion.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 10:46 am

AAUKF

BHP

BHP Group has requested an extension beyond the 4 PM GMT deadline to finalize its $50 billion takeover bid for Anglo American. The extension is needed due to the complex structure of the deal and ongoing negotiations over South African assets. Key shareholders support extending the talks.

Portfolio Pulse from Stjepan Kalinic

May 29, 2024 | 10:45 am

BABA

LNVGY

Lenovo Group Ltd. (OTC:LNVGY) will issue $2 billion in zero-coupon convertible bonds to Saudi Arabia's Public Investment Fund. The bonds will convert at a 12% discount to Lenovo's share price and represent about 12% of current capital upon maturity. Lenovo plans to establish an R&D center in Riyadh and expand production in the region. This move aligns with the PIF's strategy to diversify Saudi Arabia's economy and increase investments in Asian tech firms.

Portfolio Pulse from Benzinga Neuro

May 29, 2024 | 9:45 am

HIMX

Himax Technologies has announced a strategic investment in Obsidian Sensors, Inc. The financial details of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 9:23 am

ARKK

TSLA

Elon Musk's xAI has raised $6 billion in a fresh funding round, attracting investments from notable supporters including Cathie Wood's Ark Invest and Gene Munster's Deepwater Asset Management. Ark Invest's ARK Venture Fund has taken a 2% stake in xAI, while Tesla remains the top holding in Ark's flagship fund, ARK Innovation ETF (ARKK). Munster's firm is also investing in xAI, highlighting Musk's influence and the potential of generative AI.

Portfolio Pulse from Shanthi Rexaline

May 29, 2024 | 9:00 am

MRK

Merck & Co., Inc. (NYSE:MRK) is reportedly nearing a $1.3 billion acquisition of EyeBio to expand its presence in the eye-care market. The acquisition includes an upfront payment of $1.3 billion and potential additional payments of up to $1.7 billion based on milestones. EyeBio's lead drug, Restoret, is in development for treating age-related macular degeneration (AMD) and diabetic macular edema. This move is part of Merck's strategy to diversify its portfolio beyond its top-selling drug, Keytruda, which will lose patent protection in 2028.

Portfolio Pulse from Benzinga Neuro

May 29, 2024 | 8:36 am

AAP

BITF

CRM

DKS

ESLT

HPQ

RIOT

The CNN Money Fear and Greed index remained in the 'Neutral' zone on Tuesday. U.S. stocks closed higher, with the Nasdaq Composite settling above 17,000 for the first time. Bitfarms Ltd. shares jumped over 9% after Riot Platforms announced plans to acquire all outstanding shares. Elbit Systems Ltd. shares fell around 2.7% after reporting Q1 results. Investors are awaiting earnings results from DICK’S Sporting Goods, Advance Auto Parts, Salesforce, and HP Inc.

Portfolio Pulse from Avi Kapoor

May 29, 2024 | 7:05 am

AMD

MRNA

PLTR

Cathie Wood's Ark Invest made significant trades involving AMD, Palantir, and Moderna. Ark bought shares of AMD and Palantir while selling Moderna stock worth $4.4 million. These trades reflect Ark’s strategic adjustments amidst market movements.

Portfolio Pulse from Benzinga Neuro

May 29, 2024 | 3:26 am

FCPT

Four Corners Property Trust (FCPT) has acquired a National Veterinary Associates property in Florida for $1.8 million. The property is under a new long-term, triple net lease with annual rent increases. The transaction was priced at a cap rate consistent with previous FCPT deals.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 9:36 pm

KKR

KKR is set to acquire Emera's indirect minority equity interest in the Labrador Island Link for C$1.19 billion. The deal includes C$957 million in cash and C$235 million for remaining capital investment obligations. The transaction is expected to close around June 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 9:30 pm