Streetbeat News

Acquisitions Mergers

UBER

Uber Technologies, Inc. acquires Delivery Hero's foodpanda delivery business in Taiwan for $950M in cash, and will also purchase $300M in newly issued ordinary shares of Delivery Hero. This strategic acquisition aims to consolidate their merchant, delivery partner, and consumer bases into a single app, marking one of the largest-ever international acquisitions in Taiwan. The deal, subject to regulatory approval, is expected to close in the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:15 am

AMZN

GOOGL

Anthropic, an AI startup backed by Google and Amazon, has launched its Claude chatbot in Europe, aiming to expand its user base and revenue amidst regulatory challenges. The company, founded by former OpenAI employees, is leveraging its cloud-computing partnerships with Amazon and Google to navigate the EU's stringent data usage regulations. Anthropic's focus on responsible and ethical AI, along with its compliance with the EU's AI Act, positions it as a strong competitor in the AI market against rivals like OpenAI and emerging Chinese AI startups.

Portfolio Pulse from Ananya Gairola

May 14, 2024 | 3:02 am

ARKF

ARKK

ARKW

SHOP

Cathie Wood's Ark Invest made notable trades by purchasing shares of Shopify Inc (SHOP) for approximately $18.45 million and selling shares of Block Inc (SQ) valued at around $7.7 million. The trades were executed across Ark Invest's ETFs, including ARKF, ARKK, and ARKW, following Shopify's price dip after its Q1 earnings report and Block's price increase post its earnings and Bitcoin investment announcement.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 2:27 am

LGF/A

LION

Lionsgate Studios is set to become a standalone publicly-traded company on NASDAQ under the ticker 'LION' starting May 14, following a successful business combination with Screaming Eagle Acquisition. This move, raising $350 million, is part of Lionsgate's strategy to separate its Studio and STARZ businesses, valuing Lionsgate Studios at $4.6 billion. The full separation is expected by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:45 pm

HTCR

HeartCore Enterprises, Inc. (HTCR) announced the sale of a Go IPO client's warrant to a Japanese financial institution for $9 million, with $5 million received in Q1 2024 and the remaining $4 million in April 2024. After referral fees to So Management Inc., net sales were $5.64 million. However, the $9 million will be classified as debt until the client is publicly listed in Fall 2024, due to specific accounting treatments.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:37 pm

EVE

EVe Mobility Acquisition, a blank check company, has announced an extension of its deadline to complete an initial business combination from May 17 to June 17.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:23 pm

LPA

Logistic Properties of the Americas (LPA) announced leadership changes with Annette Fernandez appointed as COO and Paul Smith as CFO. These appointments come as part of LPA's strategy to strengthen its team in alignment with its next growth phase following its NYSE listing in March 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:38 pm

AEP

AEP has announced its plan to sell its Distributed Resources business to Basalt. The sale is anticipated to close in the third quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:32 pm

ABAT

BHP

CLF

NUE

STLD

American Battery Technology commercializes its recycling tech in Reno, Nevada, exceeding capacity expectations with support from U.S. grants and tax credits. BHP's $42B bid for Anglo American is rejected, aiming to increase copper exposure. Cleveland-Cliffs supports tariffs on Japanese tin products, emphasizing U.S. steel industry protection. Steel Dynamics announces a Q2 cash dividend, and Nucor's EVP retires, succeeded by Randy J. Spicer.

Portfolio Pulse from austin@walkonholdings.com

May 13, 2024 | 8:32 pm

NGD

New Gold Inc. (NGD) has announced an agreement to increase its free cash flow interest in the New Afton Mine to 80.1% by reducing Ontario Teachers' Pension Plan's interest from 46.0% to 19.9%. This change comes with an upfront cash payment of $255 million from New Gold to Ontario Teachers'. To fund this payment, New Gold will use cash on hand, borrowings, and proceeds from a $150 million bought deal equity financing.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:30 pm