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Acquisitions Mergers

FXZ

SLX

X

United States Steel Corporation (NYSE:X) has signed a definitive agreement with CarbonFree to implement SkyCycle technology at its Gary Works Blast Furnaces, aiming to capture and mineralize 50,000 metric tons of CO2 annually. This initiative supports U.S. Steel's environmental goals, including a 20% reduction in greenhouse gas intensity by 2030 and net-zero emissions by 2050. The construction of the SkyCycle plant is expected to begin in summer 2024, with operations starting in 2026. The project, a first in North America, also offers investment opportunities through VanEck Steel ETF (NYSE:SLX) and First Trust Materials AlphaDEX Fund (NYSE:FXZ).

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 12:01 pm

OWL

Blue Owl Capital announced a purchase agreement to acquire Kuvare Insurance Services LP for $750 million, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:47 am

INVE

Identiv shares surged following the announcement of an agreement to sell its physical security, access card, and identity reader operations and assets to Vitaprotech for $145 million.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:45 am

KTRA

Kintara Therapeutics has entered into a merger agreement with TuHURA Biosciences, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:36 am

ABIO

ARCA biopharma and Oruka Therapeutics have announced a merger agreement, aiming to create a company focused on advancing Oruka's novel biologics for chronic skin diseases. The deal, expected to close in Q3 of 2024, will support the development of ORKA-001 and ORKA-002 into clinical trials by 2025, with a pre-closing private financing of approximately $275 million to fund operations through 2027.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:32 am

EDR

TKO

Endeavor Group Holdings, Inc. (NYSE:EDR) has agreed to be acquired by Silver Lake in a deal valuing the company at $13 billion, offering a significant premium to shareholders. The acquisition price is $27.50 per share, a 55% premium over the unaffected share price. TKO Group Holdings, Inc. (NYSE:TKO), majority-owned by Endeavor, will remain public. The deal, expected to close by Q1 2025, marks the largest private equity public-to-private investment in the media sector in over a decade.

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 11:26 am

BABA

CGRO

PGJ

Alibaba Group Holding Ltd (NYSE:BABA) has significantly increased its share buy-back program, purchasing $4.8 billion in shares last quarter, marking its largest buy-back effort since 2021. The company also announced a collaboration with Space Epoch to deliver packages globally within an hour using a reusable rocket, XZY-1. This ambitious project aims to enhance Alibaba's logistics capabilities. Additionally, Alibaba's logistics arm, Cainiao, is expanding its 'five-day delivery' service internationally and boosting employee bonuses. Despite these efforts, BABA shares were down 0.95% in premarket trading. Investors can also gain exposure to Alibaba through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

April 03, 2024 | 11:08 am

KTRA

Kintara Therapeutics (KTRA) and TuHURA Biosciences have agreed to merge in an all-stock transaction. TuHURA plans to advance a Phase 3 trial for its IFx-2.0 personalized cancer vaccine with Keytruda for advanced Merkel cell carcinoma in 2H 2024, aiming for FDA's accelerated approval. The merger includes a $31 million financing for TuHURA, expected to extend its cash runway into late 2025. TuHURA's bifunctional Antibody Drug Conjugates (ADCs) also present potential partnering opportunities.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:07 am

BWMN

Bowman Consulting Group Ltd. (BWMN) has announced a definitive agreement to acquire Surdex Corporation, a provider of geospatial and engineering services. This strategic acquisition aims to enhance Bowman's service offerings and expand its market reach. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:06 am

VIEW

View Inc. shares are trading lower following the company's filing for Chapter 11 bankruptcy. The company announced a deal with Cantor Fitzgerald and RXR to transition into a private entity.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:03 am