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Acquisitions Mergers

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U.S. stocks closed lower with the Dow Jones experiencing its worst day since March 5, amid declining investor sentiment as indicated by the CNN Money Fear and Greed index. VivoPower International PLC's shares surged 304% following a merger announcement with Cactus Acquisition Corp. 1 Limited. The S&P 500 and Nasdaq also fell, while investors await earnings from Sportsman's Warehouse, Levi Strauss, and Acuity Brands.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 9:23 am

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Manulife Investment Management, a division of Manulife Financial Corp (MFC), has completed the acquisition of CQS, a multi-sector alternative credit manager. The deal, which received regulatory approval from the U.K. Financial Conduct Authority, aims to accelerate Manulife's growth and enhance its global wealth and asset management strategy. The CQS brand will be co-branded with Manulife in permitted regions.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:44 am

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U.S. Senator Sherrod Brown has urged the Biden administration to review Nippon Steel's potential acquisition of U.S. Steel Corp (NYSE:X) due to national security concerns related to Nippon Steel's ties with China. Nippon Steel refuted claims made in a Horizon Advisory report about its connections with the Chinese steel industry, stating its operations in China are minimal. The controversy could impact U.S.-Japan relations and the global commodity markets.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 8:26 am

GMAB

Genmab has announced the acquisition of ProfoundBio, a move aimed at strengthening its oncology portfolio. This strategic acquisition is expected to enhance Genmab's position in the oncology market by integrating ProfoundBio's innovative cancer treatments into its product lineup.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:33 am

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Addex has partnered with Perceptive to launch Neurosterix, a new venture focused on developing treatments for neurological disorders, with an initial funding of $63 million. The funding comes from Perceptive Xontogeny Venture Fund II, Perceptive Life Sciences Fund, and Acorn Bioventures. Neurosterix will acquire a portfolio of preclinical assets and the allosteric modulator drug discovery technology platform from Addex to accelerate their development.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:31 am

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NOVONIX Limited and Lithium Energy Limited are combining their natural graphite exploration interests into Axon Graphite Limited, which will be taken public through an IPO on the ASX. Both companies will retain up to 28.57% ownership in Axon, aiming to create a large-scale natural flake graphite project and realize value for their shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:49 am

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Mitsubishi Electric's subsidiaries have acquired French air conditioning manufacturer AIRCALO, aiming to strengthen and expand its hydronic HVAC systems business in Europe. The acquisition will allow Mitsubishi Electric to leverage AIRCALO's extensive product line and customization capabilities, catering to the growing demand for made-to-order products and environmental sustainability in the European market. Terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:28 am

MRM

MEDIROM Healthcare Technologies, known by its ticker symbol MRM, is set to acquire Japan Gene Medicine. This strategic move aims at subsidiarization, indicating MEDIROM's entry into the gene therapy market and potentially expanding its healthcare offerings.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:26 am

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IFF has successfully completed the sale of its cosmetics ingredients business to Clariant. This strategic move allows IFF to streamline its operations and focus on its core business segments.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:01 am

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Acuity Brands, Cal-Maine Foods, Levi Strauss, View, Inc., and BlackBerry Limited are stocks to watch. Acuity Brands is expected to report earnings of $3.25 per share. Cal-Maine Foods reported Q4 earnings beating estimates, causing a 7% stock surge. Levi Strauss is anticipated to report earnings of 21 cents per share. View, Inc. shares plummeted 53.7% after announcing a deal to go private. BlackBerry is expected to report a quarterly loss of 3 cents per share.

Portfolio Pulse from Avi Kapoor

April 03, 2024 | 5:56 am