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Acquisitions Mergers

GELYY

PSNY

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

BX

Concord is reportedly planning to increase its bid for Hipgnosis to approximately $1.25 per share, aiming to surpass a competing offer from Blackstone (BX), according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:27 pm

HCP

IBM

HashiCorp's stock price increased after a report indicated that IBM is considering an acquisition offer of approximately $35 per share for the company.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:20 pm

KKR

TIAIY

KKR & Co. Inc. (NYSE:KKR) shares fell due to concerns from EU antitrust regulators about its planned purchase of Telecom Italia's (OTC:TIAIY) fixed-line network, which could affect Italy's wholesale market. The deal, valued at 22 billion euros, faces scrutiny that may require KKR to offer significant remedies amid fears of potential price increases post-deal. The acquisition is part of a government-backed initiative to reduce debt and revitalize Telecom Italia.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 5:19 pm

KKR

KKR has decided to halt the $10 billion sale of Upfield after negotiations with ADQ failed. The company is now considering an IPO or selling a minority stake as alternatives, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:15 pm

HCP

IBM

IBM is reportedly offering approximately $35 per share to acquire HashiCorp, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:50 pm

BBJP

DXJ

EWJ

WisdomTree's CIO, Jeremy Schwartz, is bullish on Japan's economy due to a transformative 'new corporate culture' focused on shareholder value maximization. Warren Buffett's endorsement and investment in five Japanese trading companies further highlight Japan's appeal. The WisdomTree Japan Hedged Equity ETF (DXJ) aims to capitalize on this by using currency hedging to mitigate exchange rate volatility, boasting a 47% growth over the past year. Other ETFs like iShares MSCI Japan ETF (EWJ) and JPMorgan BetaBuilders Japan ETF (BBJP) also show positive performance.

Portfolio Pulse from Surbhi Jain

April 24, 2024 | 4:46 pm

HPQ

PENN

David Einhorn's hedge fund, Greenlight Capital, has confirmed taking new positions in HP Inc (HPQ) and Penn Entertainment (PENN), signaling a strategic move by the hedge fund into these companies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:26 pm

EH

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after announcing the completion of the first phase of battery line integration at its high energy facility. The company targets the production line start for early 2025, expecting to hire over 200 people. CEO David Michery highlighted the plant's role in strengthening the supply chain and supporting American-made battery components. Mullen also announced the production of its 500th commercial electric vehicle and plans for expansion into Europe and the U.S. Nearly 10 million shares have been traded, with a 25.04% short interest. MULN shares are up 44% at $3.93.

Portfolio Pulse from Erica Kollmann

April 24, 2024 | 4:05 pm