Streetbeat News

Acquisitions Mergers

LBPH

H. Lundbeck A/S has submitted a tender offer to acquire Longboard Pharmaceuticals at $60 per share in cash, representing a significant premium. The merger would make Longboard a wholly-owned subsidiary of Lundbeck, with accelerated equity vesting for employees. The offer expires on November 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 2:37 pm

GPN

Global Payments Inc (NYSE:GPN) reported Q3 revenue and EPS below estimates, with revenue at $2.357 billion and EPS at $3.08. Despite this, revenue grew 5% YoY and EPS increased 12%. The company announced a dividend and the sale of its AdvancedMD business to Francisco Partners. GPN shares rose 1.89% following the news.

Portfolio Pulse from Adam Eckert

October 30, 2024 | 2:30 pm

ABBV

AbbVie Inc. (NYSE:ABBV) reported strong Q3 results, with adjusted EPS of $3.00 and net revenues of $14.46 billion, both beating expectations. Key growth drivers were Skyrizi and Rinvoq, with sales up 50.8% and 45.3% respectively. AbbVie also increased its dividend and announced the acquisition of Aliada Therapeutics. The company raised its 2024 EPS guidance, reflecting confidence in future growth.

Portfolio Pulse from Vandana Singh

October 30, 2024 | 2:17 pm

ADP

Automatic Data Processing, Inc (NASDAQ:ADP) reported strong fiscal Q1 2025 results, with revenues and EPS beating analyst estimates. The company saw a 7% increase in revenues and a 13% rise in adjusted EBIT. ADP's recent acquisition of WorkForce Software and the launch of ADP Lyric HCM are strategic moves to enhance its service offerings. The company has raised its FY25 revenue growth outlook to 6%-7%. ADP's stock has gained over 23% year-to-date.

Portfolio Pulse from Anusuya Lahiri

October 30, 2024 | 1:52 pm

PPSI

Pioneer Power Solutions has sold its Pioneer Custom Electrical Products unit, including E-Bloc, to Mill Point Capital for $50 million in cash and equity. An investor conference call is scheduled for 4:30 PM ET.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 1:31 pm

HWKN

Hawkins, Inc. has acquired the assets of Water Guard, although the terms of the deal have not been disclosed. This acquisition could potentially expand Hawkins' market presence and product offerings.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 1:11 pm

BNAI

Brand Engagement Network, Inc. (NASDAQ:BNAI) has agreed to acquire Cataneo Gmbh for $19.5 million in a cash and stock deal. This acquisition aims to enhance BEN's offerings in the media technology market, with plans to expand operations in the U.S. and Latin America.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:39 pm

TCBP

TC BioPharm has announced the signing of two non-binding letters of intent for acquisitions in cell therapy modalities outside its core TCB008. This move indicates a strategic expansion beyond its current focus.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:34 pm

LGCY

Legacy Education Inc. (NYSE:LGCY) has announced an agreement to acquire substantially all assets of Contra Costa Medical Career College for $8 million. The acquisition includes a cash payment, a promissory note, and issuance of shares. Completion is subject to customary conditions and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:34 pm

BG

VGK

Bunge CEO Greg Heckman announced that the company expects to close the Viterra acquisition deal later this year or in early 2025. The deal has received conditional clearance from the European Commission.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:18 pm