Streetbeat News

Acquisitions Mergers

ACHC

Acadia Healthcare has expanded its network by acquiring three comprehensive treatment centers in North Carolina. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:04 pm

ACHC

Acadia Healthcare has expanded its footprint in North Carolina by acquiring three Comprehensive Treatment Centers. The financial terms of the acquisitions were not disclosed. The centers, now rebranded, are located in Raleigh, Greenville, and Hillsborough, serving a wide range of communities.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:02 pm

DELL

Dell Technologies Inc. CEO Michael Dell has navigated the company through significant challenges, including opposition from activist investor Carl Icahn, to capitalize on the AI boom. Under his leadership, Dell's AI-optimized servers saw a 40% increase in orders last quarter, and the company's stock surged by 49% in 2024, reaching an all-time high of $131.06. This success has elevated Dell's personal net worth, making him the 14th richest person globally.

Portfolio Pulse from Rounak Jain

March 28, 2024 | 2:01 pm

AVTX

Avalo Therapeutics Inc (NASDAQ:AVTX) has acquired AlmataBio Inc, gaining a Phase 2-ready anti-IL-1β mAb, AVTX-009, initially developed by Eli Lilly for skin disorder treatment. Avalo announced a $185 million private placement to fund the development of AVTX-009 for hidradenitis suppurativa (HS) and potentially other chronic inflammatory conditions. The company expects Phase 2 trial results in 2026 and funding to last into 2027. AVTX shares surged 348.60% to $21.31.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 2:00 pm

HD

IEDI

RTH

Home Depot, Inc. (NYSE:HD) has announced an agreement to acquire SRS Distribution Inc. for $18.25 billion, expanding its addressable market to $1 trillion. The acquisition, expected to close by the end of fiscal 2024, will be funded through cash and debt. It is anticipated to be dilutive to GAAP EPS but accretive to cash EPS in the first year post-closure. Investors can also gain exposure to Home Depot through IShares U.S. Consumer Focused ETF (BATS:IEDI) and VanEck Retail ETF (NASDAQ:RTH).

Portfolio Pulse from Lekha Gupta

March 28, 2024 | 1:57 pm

HPH

Highest Performances (HPH) has announced its plan to acquire a 77.5% equity interest in Singapore White Lingun. As part of the acquisition, HPH will issue 20,758,929 American Depositary Shares (ADS).

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:56 pm

VZIO

WMT

There are rumors that a potential deal involving Walmart may be facing difficulties, as indicated by mentions in an M&A blog. This speculation could impact investor sentiment and stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:50 pm

ALAB

IBM

INTC

RDDT

SpaceX, valued at around $175 billion, is a hot prospect for investors, though it hasn't announced an IPO date. Investors can gain exposure to SpaceX through private equity firms like Stack Capital (TSX:STCK) that hold its shares. The IPO market has been sluggish, but recent successful listings like Astera Labs Inc (NASDAQ:ALAB) and Reddit Inc (NYSE:RDDT) could rejuvenate interest. Stack Capital's portfolio includes other pre-IPO companies, indicating a robust private market for blue-chip firms.

Portfolio Pulse from Neil Dennis

March 28, 2024 | 1:49 pm

DJT

Richard W. Painter, former White House ethics lawyer, expressed concerns about the risks associated with the merger of Trump Media & Technology Group Corp (NASDAQ:DJT), citing previous Trump ventures that led to losses and bankruptcy. He highlighted potential conflicts of interest and the impact on the social media industry if Trump were to win the 2024 presidential election. Financial commentators and economists have mixed reactions, with some predicting significant gains for DJT, while others remain skeptical about its valuation.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:28 pm

AKAN

Akanda Corp. has announced its strategic plan to explore and potentially enter the Bitcoin, blockchain, and AI segments within the cannabis market. This move aims to leverage emerging technologies to innovate and possibly enhance its market position in the cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:18 pm