Streetbeat News

Acquisitions Mergers

NVO

Novo Nordisk's CEO announced a steady flow of trial data for Semaglutide over the next quarter. The company plans to launch its obesity drug in new countries with a defined capacity. Additionally, Novo Nordisk is pleased with its ongoing acquisition of Catalent, expected to close this year.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 2:54 pm

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE: KKR) has acquired a significant minority stake in Infinx, a healthcare tech company specializing in revenue cycle management solutions. The investment aims to leverage KKR's expertise to drive Infinx's growth and aid in bolt-on acquisitions. Norwest Venture Partners also participated in the transaction. KKR's cash and investments stood at $14.6 billion as of the first quarter-end. Investors can gain exposure to KKR through Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF (NYSE: FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS: LBO).

Portfolio Pulse from Lekha Gupta

May 21, 2024 | 1:57 pm

CLF

United States Steel (U.S. Steel) has announced that it expects to close its all-cash transaction with Nippon Steel Corporation (NSC) in the second half of this year. The deal, which has received overwhelming approval from U.S. Steel's investors, promises significant benefits including job security, growth opportunities, and enhanced national security. The transaction has faced opposition from Cleveland-Cliffs, a competitor and unsuccessful bidder, but U.S. Steel remains committed to completing the deal.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:50 pm

MYMD

PMCB

PharmaCyte Biotech (NASDAQ: PMCB) has invested $7 million in MyMD Pharmaceuticals (NASDAQ: MYMD), a clinical stage biopharmaceutical company. This investment aligns with PharmaCyte's strategy to utilize its significant cash position to create additional stockholder value. MyMD has reported positive data from a Phase 2 clinical trial for its lead product, MYMD-1, in sarcopenia.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:41 pm

XPOF

Xponential Fitness (NYSE:XPOF) has announced the divestiture of its brand Row House to Extraordinary Brands. The company stated that this move will not materially impact its revenue or EBITDA in 2024, and its 2024 guidance remains unchanged. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:33 pm

YYGH

YY Group has announced its entry into the Australian hospitality and hotel industry, marking a significant expansion for the company.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:22 pm

CSCO

IBM

PANW

Palo Alto Networks (PANW) shares dropped after a conservative fiscal Q3 report and guidance. The company is acquiring cloud security software from IBM (IBM) and forming a strategic alliance to enhance its AI-powered cybersecurity offerings. Despite revenue growth, the market was unimpressed by the narrowed guidance.

Portfolio Pulse from Upwallstreet

May 21, 2024 | 1:09 pm

XYLO

Xylo Technologies is set to acquire an AI technology company. The initial payment is €1.5 million, and Xylo will initially hold 51% of the company's outstanding shares. The remaining 49% will be acquired after determining the final transaction price.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:01 pm

AEIS

PSCT

RNMC

XPPLF

Advanced Energy Industries, Inc. (NASDAQ:AEIS) has disclosed a new offer to acquire XP Power Ltd. (OTC:XPPLF) for £19.50 per share in cash, reflecting a significant premium over XP Power's recent share prices. The total proposed consideration is £571 million. This is the fourth offer made by Advanced Energy, with previous offers being rejected by XP Power's board. The acquisition is expected to expand Advanced Energy's product portfolio and technical capabilities.

Portfolio Pulse from Lekha Gupta

May 21, 2024 | 12:55 pm

REBN

Reborn Coffee has signed a Letter of Intent (LOI) to acquire a 55% stake in Derin Lezzetler, a move that could expand its market presence and diversify its product offerings.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 12:36 pm