Streetbeat News

Acquisitions Mergers

PM

Philip Morris International (PM) has acquired a 14.7% stake in Egypt-based Eastern Company. The acquisition aims to explore strategic collaboration in technology, manufacturing, and innovation, including heated tobacco products.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:53 pm

BHP

Anglo American has rejected a proposal from BHP to acquire the company at £29.34 per share.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:18 pm

HOLI

Hollysys CEO Changli Wang sold shares for personal financial planning, retaining 80% of his pre-sale holdings. The sale does not impact the company's going private transaction with Ascendent Capital Partners.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:05 pm

PLNH

Planet 13 Holdings (OTC:PLNH) has completed its acquisition of VidaCann, leading to a 56% increase in sales for Q1 2024. The company plans to expand its store network in Florida and anticipates significant revenue and EBITDA growth by 2026. Despite a recent 15% drop in stock price, analysts maintain an Overweight rating, citing undervaluation and future growth potential.

Portfolio Pulse from Nicolás Jose Rodriguez

May 22, 2024 | 1:00 pm

BMBL

MTCH

Bumble Inc (NASDAQ:BMBL) and Match Group Inc (NASDAQ:MTCH) are key players in the online dating market, each with distinct strategies. Bumble's recent app relaunch and acquisition of Geneva aim to enhance user experience and expand social connections. Match Group focuses on stabilizing Tinder's user trends and payers, with positive outlooks for Hinge. Both companies presented insights at the JPMorgan TMC Conference, highlighting their growth potential and strategic moves.

Portfolio Pulse from Surbhi Jain

May 22, 2024 | 12:58 pm

BNED

Barnes & Noble Education shares are experiencing increased volatility. Greenhaven recently announced it is exploring a potential transaction with the company.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:57 pm

IP

Suzano has confirmed its interest in International Paper's assets but clarified that no formal agreement or decision has been made. The news has impacted Suzano's share price and trading volume.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:46 pm

AGFY

NMHI

Agrify Corporation (NASDAQ: AGFY) reported a significant reduction in losses for Q1 2024, despite a decline in revenue. The company saw a notable increase in extraction sales and consumable parts sales. Agrify also terminated its merger plan with Nature's Miracle Holding Inc. (NASDAQ: NMHI) due to unfavorable market conditions. Agrify shares rose 18.82% to 37 cents per share following the news.

Portfolio Pulse from Nina Zdinjak

May 22, 2024 | 12:41 pm

BHAT

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a Letter of Intent to acquire 60% of GTC Multi Trading DMCC, a fintech company in the UAE, through multiple rounds of share issuance. This move marks a significant step for BHAT in the AI-assisted trading sector.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:40 pm

OTEX

OpenText Corporation (NASDAQ:OTEX) has acquired Pillr, a cloud-native MDR platform from Novacoast, Inc. The acquisition aims to enhance OpenText's cybersecurity offerings, particularly for Managed Service Providers (MSPs). Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:32 pm