Streetbeat News

Acquisitions Mergers

MMV

MultiMetaVerse shares are trading higher after the company signed a term sheet to acquire Bowong Technology.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:18 pm

GOOGL

VOX

XLC

Google, owned by Alphabet Inc (NASDAQ:GOOGL), is investing an additional $1.1 billion to expand its data center in Finland, aiming to bolster its AI business in Europe. This move underscores Google's commitment to enhancing its technological infrastructure and AI capabilities in the region. The investment aligns with Finland's renewable energy capabilities and Google's sustainability goals.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 1:58 pm

CRWD

CSCO

MSFT

PANW

Cisco Systems Inc (NASDAQ:CSCO) reported fiscal Q3 results surpassing Wall Street estimates despite a 13% revenue drop, the steepest since 2009. The company completed a $28 billion acquisition of Splunk, boosting its AI and cybersecurity capabilities. Cisco's stock rose 8% in extended trading.

Portfolio Pulse from Upwallstreet

May 20, 2024 | 1:45 pm

MMV

MultiMetaVerse Holdings Limited (NASDAQ:MMV) has signed a non-binding term sheet to acquire 100% of Bowong Technology (Shenzhen) Co., Ltd. and its subsidiaries. The acquisition will be paid in Class A ordinary shares, subject to due diligence and negotiation, with a one-year lock-up period. MMV has an exclusive 90-day period to finalize the agreement. Bowong AI specializes in AI solutions for e-commerce, and its recent Series A funding will help expand its market and develop its technologies. MMV shares surged 84.5% following the announcement.

Portfolio Pulse from Akanksha Bakshi

May 20, 2024 | 1:44 pm

DIST

Youlife International has entered into a definitive business combination agreement with Distoken Acquisition Corporation. This merger will result in Youlife International being listed on the stock market under the ticker symbol YOUL, marking a significant step for its long-term development.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:30 pm

JFBR

Jeffs' Brands has signed a Memorandum of Understanding (MoU) to acquire a company operating a 100,000-square-foot logistic center in New Jersey. This acquisition aims to support the company's ongoing growth.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:29 pm

AAUKF

BHP

BHP Group's acquisition attempt of Anglo American faces complexity as the May 22 deadline approaches. Despite rejections, BHP's shares rise due to high commodity prices. Anglo American accelerates restructuring, divesting assets and focusing on copper. The $9 billion Woodsmith project faces uncertainty amid BHP's parallel investment in Canada.

Portfolio Pulse from Stjepan Kalinic

May 20, 2024 | 1:08 pm

OSG

Overseas Shipholding Group, Inc. (NYSE:OSG) shares are surging premarket after announcing a definitive merger agreement to be acquired by Saltchuk Resources. The transaction is valued at $950 million, with Saltchuk offering $8.50 per share in cash, representing a significant premium over recent trading prices. The deal is expected to close in the next few months, with OSG operating as a standalone unit within Saltchuk post-closure.

Portfolio Pulse from Lekha Gupta

May 20, 2024 | 1:06 pm

FUL

H.B. Fuller has acquired ND Industries, adding ND Industries' Vibra-Tite brand to its product range. This strategic acquisition aims to expand H.B. Fuller's service and product offerings in fast-growing, high-margin segments.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 12:53 pm

LQR

LQR House has acquired 9.9% of the common shares of Cannon Estate Winery by exchanging 750,000 shares of LQR House.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 12:49 pm