Streetbeat News

Acquisitions Mergers

MICS

The Singing Machine Company has announced that its Board of Directors has approved the exploration of transformational corporate transactions aimed at enhancing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:02 pm

TARO

Sun Pharmaceutical and Taro Pharmaceutical Industries' merger agreement has been approved by the affirmative vote of Taro shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:56 am

BABA

CGRO

CLIX

JD

Alibaba Group Holding Ltd (NYSE:BABA) is planning a convertible bond sale to raise nearly $5 billion, following JD.Com, Inc's (NASDAQ: JD) recent move. Both stocks are trading lower on Thursday. Alibaba aims to use the funds for share repurchases and growth, particularly in its commerce and cloud businesses. The company is also engaged in a price war and has expanded its share buyback program for 2024. Bearish sentiments from U.S. short sellers have led to a selloff in Chinese stocks, affecting ETFs like iShares China Large-Cap ETF. Alibaba's fiscal Q4 2023 revenue grew 7% YoY to $30.73 billion, beating analyst expectations, but its adjusted earnings per ADS missed the consensus. BABA shares were down 1.72% in premarket trading on Thursday.

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 11:32 am

ARMN

Aris Mining plans to acquire an additional 31% JV interest in the Soto Norte Gold-Copper Project in Colombia, increasing its controlling interest to 51%. This acquisition will integrate the PSN development team into Aris Mining's management structure, enhancing operational efficiencies and creating synergies.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:29 am

GOOGL

HUBS

MSFT

Google's parent company, Alphabet Inc. (NASDAQ:GOOGL), is exploring a $31 billion acquisition of HubSpot Inc. (NYSE:HUBS) to enhance its competitive stance against Microsoft Corp. (NASDAQ:MSFT) in the cloud-based applications market. This acquisition would be Google's largest deal, positioning it as a significant player in the customer relationship management sector. Analysts note that this move could help Google bundle applications and leverage first-party data, especially as it plans to remove tracking cookies from Chrome in late 2024.

Portfolio Pulse from Benzinga Neuro

May 23, 2024 | 11:14 am

PACS

PACS Group is set to acquire operations at 53 facilities in the Pacific Northwest, spanning 8 states. The acquisition includes 2,511 skilled nursing beds and 1,334 assisted living and independent living units. PACS will lease 37 facilities from a joint venture in which it holds a 25% interest, while the remaining 16 facilities will be leased from third-party landlords.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 6:52 am

CRGY

Crescent Energy (NYSE:CRGY) has received favorable responses from S&P, Fitch, and Moody's on its agreement to acquire SilverBow Resources. The acquisition, valued at $2.1 billion, is expected to close by the end of Q3 2024, pending customary approvals.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 8:55 pm

CVX

HES

John Hess is seeking investor support for the Chevron deal ahead of a crucial vote, warning that Chevron could walk away if the deal is voted down.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 8:54 pm

DD

DuPont announced plans to separate into three publicly traded companies, spinning out its electronics and water businesses. Antonella Franzen has been named CFO, and the company reaffirmed its Q2 and FY net sales and adjusted EPS guidance. Ed Breen will transition to the role of Executive Chair.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 8:47 pm

ANSS

SNPS

Ansys stockholders have approved the acquisition by Synopsys. Under the merger agreement, Ansys stockholders will receive $197 per share in cash and 0.3450 shares of Synopsys common stock for each Ansys share, valuing the deal at approximately $35 billion.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 8:32 pm