Streetbeat News

Acquisitions Mergers

MULN

Mullen Automotive, Inc. (MULN) announces significant cost reduction and consolidation measures expected to save approximately $170 million over the next 12 months. The company is focusing on the commercial EV segment, aiming to sell 100 units in April, as part of its strategy to align with current market conditions and drive near-term revenue. These actions include prioritizing commercial programs, integrating engineering centers, and expanding the dealer network, aiming for long-term growth and improved financial results.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:43 pm

BSET

EGLE

S

Insider purchases at Eagle Bulk Shipping, SentinelOne, and Bassett Furniture Industries signal confidence in these companies. Eagle Bulk Shipping's merger with Star Bulk was approved, SentinelOne received a positive analyst rating, and Bassett Furniture reported downbeat quarterly sales.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 12:41 pm

CAUD

Collective Audience (CAUD) shares are trading higher following the announcement of its acquisition of DSL Digital. This acquisition will enable Collective Audience to launch AI-powered AudienceServices, expanding its capabilities and offerings in the digital services sector.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:41 pm

BTCUSD

XRPUSD

Ripple CEO Brad Garlinghouse predicts the cryptocurrency market cap could reach $5 trillion by 2024, driven by the launch of U.S. spot Bitcoin ETFs and the upcoming Bitcoin halving event. These developments, along with increased institutional investment, are expected to significantly impact the market dynamics. The first U.S. spot Bitcoin ETFs were approved on Jan. 10, and the Bitcoin halving event is set to occur later this month.

Portfolio Pulse from Murtuza Merchant

April 08, 2024 | 12:40 pm

TPCS

TechPrecision Corporation (NASDAQ:TPCS) announced the termination of its agreement to acquire Votaw Precision Technologies from Doerfer Corporation, initially set on November 22, 2023. The termination occurred on April 2, 2024, after both parties failed to agree on terms for reinstatement and extension of the agreement. As a result, Doerfer expects TechPrecision to issue 320,000 shares to them as a termination fee. TechPrecision is currently reviewing the situation.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:39 pm

CAUD

Collective Audience, Inc. (NASDAQ:CAUD) is set to acquire DSL Digital, a Marketing-as-a-Service provider with proprietary AI technology, aiming to launch a new AudienceServices group. This acquisition will add a global customer base, an international services team, and AI-powered AdTech tools to Collective Audience's offerings. The deal, expected to close by the end of the current quarter, will be an all-stock transaction and is anticipated to generate significant revenue and positive EBITDA for Collective Audience.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:38 pm

VSTO

Czechoslovak Group (CSG) has reaffirmed its $1.91 billion all-cash acquisition of Vista Outdoor (VSTO), with financing fully committed by JP Morgan Chase. CSG, a significant NATO supplier with top security clearance, operates ammunition facilities in Arkansas and Missouri, acquired in 2022 with CFIUS approval. The transaction has received FTC antitrust clearance.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:32 pm

SMFL

Smart For Life, Inc. (SMFL) shares have seen an increase following the announcement of its acquisition of Purely Optimal Nutrition. This strategic move is expected to enhance SMFL's product offerings and market presence.

Portfolio Pulse from Luke J Jacobi

April 08, 2024 | 12:31 pm

AIRC

BX

Apartment Income REIT's stock price increased after a Wall Street Journal report indicated that Blackstone is planning to take the company private.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:28 pm

ANSLY

KMB

Ansell (OTC:ANSLY) has agreed to acquire Kimberly-Clark Corp's (NYSE:KMB) personal protective equipment business for $640 million, aiming to enhance its product portfolio in clean room applications and scientific verticals. The acquisition, expected to complete by September 2024, includes the Kimtech and KleenGuard brands, expanding Ansell's offerings in gloves, protective apparel, chemical protective clothing, and safety eyewear. The deal is subject to antitrust approval and customary closing conditions. KMB shares closed slightly lower following the announcement.

Portfolio Pulse from Shivani Kumaresan

April 08, 2024 | 12:26 pm