Streetbeat News

Acquisitions Mergers

BHP

BHP Group made a revised proposal for a potential combination with Anglo American, which was subsequently rejected by the Anglo American board.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:12 pm

SPHR

Sphere Entertainment has completed the acquisition of the remaining shares of HOLOPLOT, a company it partially owned before. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:01 pm

OKE

ONEOK, Inc. (OKE) has expanded its operations by acquiring strategic Gulf Coast natural gas liquids (NGL) pipelines for $280 million. This acquisition enhances ONEOK's presence in the Gulf Coast, a key region for NGL market dynamics. The investment is expected to strengthen ONEOK's infrastructure and operational capabilities, potentially leading to increased efficiency and market reach.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:01 pm

NIO

XPEV

Nio Inc's CEO William Li purchased a vehicle from rival EV maker XPeng Inc, breaking an 8-year brand loyalty streak. XPeng has seen a 23% year-on-year increase in smart EV deliveries, while Nio reported a 21.2% increase. Nio plans to introduce a new mass-market model and a smaller EV for Europe, emphasizing battery swapping technology.

Portfolio Pulse from Anan Ashraf

May 13, 2024 | 11:48 am

JAN

JanOne acquires blockchain FinTech firm ALT 5 Sigma, issuing 1,799,100 common and 34,207 Series B preferred shares, making ALT 5 Sigma a wholly owned subsidiary.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:48 am

RPHM

Reneo Pharmaceuticals and OnKure have announced a definitive merger agreement in an all-stock transaction. Post-merger, Reneo stockholders will own approximately 31% of the combined entity, while OnKure shareholders will own about 69%. The merger is expected to close in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:37 am

GNK

SBLK

TRN

Wall Street's most accurate analysts recommend three industrials stocks with over 3% dividend yields: Genco Shipping & Trading Limited (GNK), Star Bulk Carriers Corp. (SBLK), and Trinity Industries, Inc. (TRN). GNK and SBLK have been rated Buy with increased price targets, while TRN also received a Buy rating with a raised price target. GNK recently posted downbeat quarterly earnings, SBLK completed a merger with Eagle Bulk, and TRN reported better-than-expected Q1 financial results.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 11:33 am

GELYF

ZK

Zeekr Intelligent Technology Holding Limited (NYSE:ZK) experienced a strong market debut on the NYSE, with its stock price rising in premarket trading on Monday after a significant gain on Friday. The company, backed by Geely Automobile Holdings Limited (OTC:GELYF), offered 21,000,000 ADRs at $21 each, reaching a valuation of $64.03 billion by Friday's close. The stock opened at $26 per ADS and closed at $28.26, a 34.57% increase. Premarket trading saw a further 3.86% rise to $29.35. Zeekr plans to use the IPO proceeds for BEV technology development, marketing, service and charging network expansion, and general corporate purposes. The debut coincides with potential tariff increases on Chinese EV imports by the Biden administration.

Portfolio Pulse from Shanthi Rexaline

May 13, 2024 | 11:29 am

SQSP

Squarespace's stock is trading higher following the announcement of a go-private deal with Permira at a price of $44 per share.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:21 am

SQSP

Squarespace, Inc. (SQSP) has announced an agreement to go private in a $6.9 billion all-cash transaction with Permira, representing a 15% premium over its last closing share price.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:05 am