Streetbeat News

Acquisitions Mergers

EGH

TKO

Endeavor Group Holdings, Inc. and its subsidiary TKO Group Holdings, Inc. have announced significant stock transactions with Vincent McMahon, totaling over $311M. Endeavor will purchase 1,642,970 shares of TKO's Class A common stock for $146.2M, expected to close by April 9, 2024. TKO will buy back 1,853,724 shares from McMahon for $165M, planning to retire these shares post-purchase, expected to close by April 10, 2024. TKO will finance this buyback with $150M in borrowings and cash on hand.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:12 am

DCO

Ducommun shares surged following the company's confirmation of receiving an unsolicited non-binding indication of interest at $60 per share from Albion River LLC.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:11 am

DCO

Ducommun has received an unsolicited, non-binding $60 per share offer from Albion River. The Board of Directors is reviewing the proposal to decide if it's in the best interest of the company and its shareholders. Shareholders are advised not to take any action at this time.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:07 am

CHRD

ERF

Chord Energy and Enerplus have announced the expiration of the HSR Act waiting period, moving them closer to completing their previously announced stock-and-cash transaction. The deal is expected to close in the second quarter of 2024, pending the satisfaction of certain closing conditions.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:06 am

JVSA

JVSPAC Acquisition Corporation (NASDAQ:JVSA) is merging with Hotel101 Global Pte. Ltd., a subsidiary of DoubleDragon Corporation, to go public on NASDAQ under the ticker 'HBNB'. Hotel101, a hotel prop-tech operator, is expected to have an equity value of over $2.3 billion post-merger. The merger, expected to close in the second half of 2024, will mark Hotel101's expansion, including new properties in Madrid, Niseko, and Los Angeles.

Portfolio Pulse from Shivani Kumaresan

April 08, 2024 | 9:58 am

UBS

UBS Group AG's joint venture with SuMi TRUST Wealth Management Co will acquire Credit Suisse's wealth management business in Japan, following UBS's takeover of Credit Suisse in 2023. The deal will transfer all of Credit Suisse's advisors and assets in Japan to UBS SuMi, maintaining the original ownership structure of 51% UBS and 49% SuMi TRUST Holdings. This acquisition is part of UBS's integration of Credit Suisse, alongside a new $2 billion share buyback program set for 2024, following a successful $1 billion buyback after a strong Q4 performance.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 8:09 am

BYDDF

GEELY

TSLA

China's Commerce Minister, Wang Wentao, countered claims that the country's EV industry growth is due to subsidies, attributing it instead to 'constant innovations'. During a roundtable in Paris with companies like Geely, BYD, and CATL, Wang addressed the EU's anti-subsidy probe and U.S. concerns about overcapacity. The discussion highlights the global competition and scrutiny of China's EV market, amidst developments like Chery Auto's new EV brand and BYD's potential entry into the EV pickup market.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 7:42 am

ACN

AGEN

BRAG

LOT

RDCM

Accenture plc (ACN) is acquiring CLIMB to expand its technology capabilities, with shares slightly up in after-hours trading. Agenus Inc. (AGEN) announced a 1-for-20 reverse stock split, causing a share price drop. Lotus Technology Inc. (LOT) is set to report Q4 financial results before April 8, 2024, with a slight share price increase. RADCOM Ltd. (RDCM) announced a CEO change, leading to a share price decrease. Bragg Gaming Group Inc. (BRAG) reported the resignation of its CFO, with shares slightly up.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 7:19 am

JVSA

Hotel101 Global, a subsidiary of DoubleDragon Corporation, is set to merge with JVSPAC Acquisition Corp (NASDAQ:JVSA), aiming for a Nasdaq listing under the ticker 'HBNB' with a $2.3B equity value. The merger, expected to close in the second half of 2024, is subject to regulatory and shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 7:16 am

CMPUY

EXNWF

Morgan Stanley has highlighted three underappreciated tech stocks with significant growth potential: CompuGroup Medical (OTC:CMPUY), Exclusive Networks (OTC:EXNWF), and W.A.G. Payment Solutions. These stocks are considered undervalued with attractive valuations and have been given an overweight rating by the bank. CompuGroup has a price target of 37 euros, suggesting a 23% upside, while W.A.G. Payment Solutions has a target of 135 pence, indicating a 98.5% upside. Exclusive Networks has a price target of 26.5 euros, a 15.7% upside. This comes amid a volatile market scenario, with some analysts predicting continued bull runs and others warning of potential corrections.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 6:31 am