Streetbeat News

Acquisitions Mergers

CNXA

Connexa Sports Technologies is set to acquire Yuanyu Enterprise Management by issuing 162.6 million shares to complete the transaction. Additionally, a change-in-control and spin-off of Slinger Bag has received shareholder consent. These transactions are pending Nasdaq approval.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 1:02 pm

GOOG

GOOGL

LRNZ

META

SNOW

SPRX

Snowflake Inc (NYSE:SNOW) is in talks to acquire Reka AI for over $1 billion to boost its generative AI capabilities. Reka AI, founded by former Google and Meta researchers, specializes in large language models. Snowflake's stock has declined over 5% this year, and analysts have flagged potential growth slowdowns due to competition and customer transitions. Investors can gain exposure to Snowflake through the Spear Alpha ETF (NASDAQ:SPRX) and the TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 12:47 pm

ADBE

CRM

GOOG

GOOGL

MSFT

ORCL

Figma announced a new equity offering at a $12.5 billion valuation, which is lower than Adobe's previous $20 billion acquisition offer. The tender offer will allow investors, including employees, to sell shares, and is backed by over 25 investors. Adobe and Figma terminated their acquisition deal last December due to regulatory hurdles. Figma's tools are widely used by major corporations like Microsoft, Google, Oracle, and Salesforce.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 12:44 pm

BNIX

Bannix Acquisition Corp. has extended its business combination date from May 14, 2024, to June 14, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:33 pm

LIVE

Live Ventures has acquired Central Steel Fabricators, though the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:32 pm

ACN

Accenture (NYSE:ACN) announced the acquisition of OPENSTREAM HOLDINGS in Japan, adding 1,000 professionals to its cloud and digital engineering teams. The acquisition aims to enhance Accenture's capabilities in logistics, retail, automotive, and manufacturing industries. Additionally, Accenture Ventures invested in Turbine, a predictive simulation company for biopharma. ACN shares are trading slightly lower.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 12:11 pm

TLRY

Tilray Brands has announced an at-the-market program to raise funds for strategic acquisitions and to accelerate its expansion plans, particularly in anticipation of U.S. cannabis rescheduling.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:48 am

MCHX

RPHM

RVP

Insiders are buying shares of Reneo Pharmaceuticals, Retractable Technologies, and Marchex, indicating their confidence in these companies despite recent declines in quarterly sales for Retractable Technologies and Marchex. Reneo Pharmaceuticals has also entered into a merger agreement with OnKure.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 11:29 am

EVX

IDU

JPM

Waste Management, Inc. (NYSE:WM) is considering selling its renewable natural gas (RNG) business for approximately $3 billion. The company is collaborating with JP Morgan Chase & Co. (NYSE:JPM) to find potential buyers. The RNG unit currently generates $150 million in EBITDA and is projected to contribute over $500 million by 2026. If successful, this would be a significant sale in the U.S. RNG industry. Investors can gain exposure to WM through VanEck Environmental Services ETF (NYSE:EVX) and iShares U.S. Utilities ETF (NYSE:IDU).

Portfolio Pulse from Lekha Gupta

May 17, 2024 | 11:18 am

ERAS

Erasca has entered into exclusive license agreements for two preclinical RAS programs, ERAS-0015 and ERAS-4001, which are potent oral inhibitors targeting RASm solid tumors. The company is also prioritizing its pipeline and restructuring its workforce to focus on high-need, high-success programs. Additionally, Erasca has announced a $160 million equity offering.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 5:19 am