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Acquisitions Mergers

ADIL

ALPN

MRIN

MSTR

TSLA

On Wednesday, U.S. stock indexes closed lower, with notable movements in specific stocks. MicroStrategy Inc. saw an 8.67% increase, attributed to Bitcoin's surge affecting its shares and bonds. Adial Pharmaceuticals Inc. jumped 106.19% after publishing positive clinical results for AD04. Alpine Immune Sciences Inc. rose 20.80%, exploring strategic options including a sale. Marin Software Inc. surged 126.30% following upgrades to its Microsoft advertising integration. Tesla Inc. dropped 2.89% amid potential talks between its CEO and the Indian Prime Minister.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 2:19 am

CDE

GATO

TMC

Gatos Silver Inc (NYSE:GATO) reported a record quarterly mill throughput for Q1 2024 at its Cerro Los Gatos mine, with plans for further productivity improvements. AngloGold Ashanti PLC (NYSE:AU) published its 2023 Annual Report, detailing corporate restructuring and a potential joint venture to create Africa's largest gold mine. Steve Jurvetson joined the board of TMC The Metal Company Inc. (NASDAQ:TMC), aiming to guide the company into commercial production of critical metals. BMO Capital maintained a Market Perform rating on Coeur Mining Inc (NYSE:CDE) and raised its price target.

Portfolio Pulse from Austin DeNoce

April 10, 2024 | 10:12 pm

STC

Stewart Information Services has acquired All New York Title Agency, a commercial boutique title company founded in 1995, specializing in various housing markets throughout New York State. The acquisition terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 9:03 pm

CEAD

CEA Industries is actively evaluating merger and acquisition opportunities and other alternatives for its future. On April 9, the company received a notice from Nasdaq about the delisting of its shares of common stock and common stock warrants, which will take effect on April 18.

Portfolio Pulse from Charles Gross

April 10, 2024 | 8:57 pm

DIS

DKNG

NKE

PARA

The 88th Masters Tournament, featuring Tiger Woods among 89 golfers, will be broadcast by ESPN and CBS, with streaming on ESPN+ and Paramount+. Betting odds favor Scottie Scheffler, with DraftKings listing various odds for top contenders. Woods, with new TaylorMade partnership, faces long odds. Scheffler and Sam Burns, both with pregnant spouses, may withdraw, affecting bets. McIlroy aims for his first Masters win, recalling past winners and predicting his victory.

Portfolio Pulse from Chris Katje

April 10, 2024 | 8:42 pm

ALPN

VRTX

Alpine Immune Sciences' stock price increased following the announcement that Vertex Pharmaceuticals has agreed to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:39 pm

ACAC

Acri Capital, a blank check company, has extended its deadline to complete an initial business combination to May 14, 2024. This extension provides Acri Capital additional time to find a suitable merger or acquisition target.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:32 pm

SHO

Sunstone Hotel Investors has agreed to acquire the Hyatt Regency San Antonio Riverwalk Hotel for $230M, expecting to close in late April. The acquisition is anticipated to contribute $12M-$13M in hotel EBITDA and approximately $0.06 in adjusted FFO during the 2024 ownership period.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:13 pm

ALPN

VRTX

Vertex Pharmaceuticals' subsidiary is set to initiate a cash tender offer to acquire all outstanding shares of Alpine Immune Sciences. The deal, expected to close in Q2 2024, focuses on Alpine's lead molecule, povetacicept (ALPN-303), which has shown promising efficacy in treating IgA nephropathy (IgAN), a serious kidney disease with no approved therapies targeting its cause. Povetacicept is anticipated to enter Phase 3 trials in H2 2024.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:05 pm

ALPN

VRTX

Vertex Pharmaceuticals has agreed to acquire Alpine Immune Sciences for $65 per share, totaling approximately $4.9 billion in cash. This strategic acquisition aims to enhance Vertex's portfolio in the biotech sector, leveraging Alpine's innovative research in immune sciences.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:02 pm