Streetbeat News

Acquisitions Mergers

BRAG

Bragg Gaming's Board of Directors has established an ad hoc special committee, led by Don Robertson, to explore strategic alternatives for the company. These alternatives could include a sale, merger, financing, further acquisitions, or other strategies. No specific timeline for this strategic review has been set, and there are no guarantees that any transaction will result from this process.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:08 am

BA

GE

SPR

Boeing Company (NYSE:BA) is reportedly seeking a new CEO from outside the company to lead through its current challenges, including the 737 MAX crisis. Dave Calhoun is set to resign by the end of 2024. The search for a successor is focused on candidates who can address safety improvements, quality concerns, and rebuild trust. Potential candidates include Larry Culp of General Electric Co (NYSE:GE) and Pat Shanahan of Spirit Aerosystems Holdings Inc (NYSE:SPR). Boeing's shares rose 0.56% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 26, 2024 | 11:06 am

OPGN

OpGen shares surged following the announcement that David Lazar will invest $3 million in preferred stock and assume the role of CEO.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:57 am

ACI

KR

A Colorado court has scheduled a hearing for mid-August to discuss the proposed acquisition of Albertsons Companies Inc (NYSE:ACI) by Kroger Company (NYSE:KR). This hearing precedes a U.S. government antitrust challenge. The FTC is attempting to block the merger, with a trial set for the end of August in Oregon. Kroger's representative mentioned a potential enhanced divestiture package with C&S Wholesale Grocers Inc to address concerns. The merger faces legal and financing challenges, with an outside date of Oct. 9. KR shares slightly dropped in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 26, 2024 | 10:52 am

BABA

Alibaba Group has announced the withdrawal of its logistics subsidiary Cainiao's IPO application on the Hong Kong Stock Exchange. Concurrently, Alibaba proposes to acquire all outstanding shares of Cainiao from minority shareholders, including employees, for $0.62 per share, totaling up to $3.75 billion. Alibaba currently owns approximately 63.7% of Cainiao.

Portfolio Pulse from Charles Gross

March 26, 2024 | 10:33 am

AONC

American Oncology Network (AON) (NASDAQ:AONC) expands its presence in Texas by opening Woodlands Cancer Institute in Houston, marking its second practice in the state and first in Montgomery County. The institute specializes in medical oncology, radiation oncology, and hematology, led by a team of Board-certified oncologists.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:29 am

GOOGL

META

Mark Zuckerberg, CEO of Meta Platforms Inc. (META), is personally recruiting AI talent from Google's DeepMind, offering positions without interviews and higher salaries. This move is part of Meta's strategy to become a leader in AI, including plans to acquire Nvidia GPUs and advocating for open-source AI development. Meanwhile, Google faces AI challenges and concerns about losing key talent. Meta's actions could intensify competition in the AI space between Meta and Google.

Portfolio Pulse from Rounak Jain

March 26, 2024 | 9:16 am

WDS

Woodside has finalized the sale of a 10% stake in the Scarborough Joint Venture to LJ Scarborough Pty Ltd (LNG Japan) for $910M, as part of a strategic relationship that includes potential LNG offtake and new energy collaboration. Woodside retains a 90% interest, which will reduce to 74.9% following a future transaction with JERA.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 7:01 am

CHEK

Nobul AI Corp has entered into a business combination agreement with Check-Cap (CHEK) to form a North American technology company focused on an AI-driven fintech marketplace. The combined entity plans to apply for listings on both the Nasdaq and TSX stock exchanges.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 6:56 am

SVM

Silvercorp Metals Inc. did not achieve the required 50.1% acceptance for its bid to acquire Orecorp and has decided not to match a competing offer. However, Silvercorp will still be entitled to a break fee of about AUD$2.8 million under certain conditions outlined in the BID.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 6:45 am