Streetbeat News

Acquisitions Mergers

AAPL

ADBE

AMZN

GOOG

GOOGL

IRBT

IVW

META

MSFT

QQQ

The EU has launched antitrust investigations into Apple, Meta, and Alphabet under the Digital Markets Act, focusing on practices that may hinder competition. This includes Apple's integration restrictions, Google's search result displays, and Meta's ad policies. Microsoft, Amazon, and Adobe are also mentioned in relation to previous antitrust issues and significant financial deals. The investigations aim to ensure fair competition and consumer choice in the tech sector.

Portfolio Pulse from Anusuya Lahiri

March 25, 2024 | 12:08 pm

TGB

Taseko has acquired 100% ownership of the Gibraltar Mine, with the acquisition involving a minimum payment of $117M spread over ten years, plus contingent payments based on copper prices and Gibraltar's cash flow. An initial payment of $5M was made to Dowa and Furukawa upon closing.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:08 pm

TNXP

Tonix Pharmaceuticals (TNXP) received Rare Pediatric Disease Designation from the FDA for TNX-2900, aimed at treating Prader-Willi Syndrome (PWS), a genetic cause of life-threatening childhood obesity. This designation follows TNX-2900's Orphan Drug designation in 2022 and IND clearance in 2023. Approval of TNX-2900 could make Tonix eligible for a Priority Review Voucher, recently sold for around $100 million. The FDA's voucher program encourages development of treatments for rare pediatric diseases, with vouchers selling for significant amounts.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:06 pm

MASI

Masimo Corporation (NASDAQ:MASI), a patient monitoring device maker, is considering separating its consumer business amid pressure from activist investor Quentin Koffey of Politan Capital Management, who seeks to expand his board presence. Politan, holding a 9% stake in Masimo, nominated two candidates for the 2024 Annual Meeting, aiming to increase its influence. This follows criticism of Masimo's acquisition of Sound United and its strategic direction. The proposed separation includes consumer audio and health products, aiming to enhance healthcare business profitability. Masimo's shares surged 13.7% in after-hours trading.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 12:05 pm

Arrow Holdings has made a non-binding proposal to acquire all outstanding shares of Target Hospitality (TH) not already owned by Arrow, offering $10.80 per share in cash.

Portfolio Pulse from Charles Gross

March 25, 2024 | 12:04 pm

CENX

Century Aluminum Company (CENX) is set to negotiate for up to $500 million in funding from the U.S. Department of Energy for a new aluminum smelter, marking the first new U.S. primary aluminum smelter in 45 years. This project, part of the Industrial Demonstrations Program, aims to decarbonize energy-intensive industries, strengthen local economies, create jobs, and reduce greenhouse gas emissions. It is expected to double the size of the current U.S. primary aluminum industry and create over 6,500 jobs. CENX shares rose 3.03% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 12:03 pm

LCID

Lucid Group has announced a significant $1 billion investment from a Public Investment Fund (PIF) affiliate, marking a substantial financial infusion into the electric vehicle manufacturer.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:02 pm

BABA

BILI

ONLN

PGJ

XPEV

Alibaba Group Holding Ltd (NYSE:BABA) is pausing operations of its Ling Shou Tong platform to adjust its business strategy, focusing on AI and core retail and technology sectors. Despite this, LST is not shutting down or merging with another platform. Alibaba sold $360 million of Bilibili Inc (NASDAQ:BILI) shares and reduced stakes in other companies, reallocating resources towards AI. It plans to launch a new processor to counteract U.S. export controls on chip technologies. Alibaba's stock has declined over 16% in the past year, but can be accessed through ETFs like Invesco Golden Dragon China ETF (NASDAQ:PGJ) and ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

March 25, 2024 | 12:01 pm

Bloomberg reported that Unilever's CEO hinted the Netherlands might win the battle for the listing of its ice cream division. This development could influence Unilever's strategic decisions and market positioning.

Portfolio Pulse from Charles Gross

March 25, 2024 | 11:52 am

Ivanhoe Electric (IE) has completed an earn-in to acquire a 60% interest in the Samapleu-Grata Nickel-Copper project in the Ivory Coast. The project, in partnership with Sama Resources, has a new preliminary economic assessment showing a pre-tax NPV8 of $463M and a pre-tax IRR of 28.2%, with an estimated initial capital cost of $338M. It is expected to have a 16-year mine life, producing copper and nickel concentrates along with platinum, palladium, and cobalt by-products.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:49 am