Streetbeat News

Acquisitions Mergers

RIO

Arcadium Lithium shares surged following Rio Tinto's announcement of acquisition talks, valuing Arcadium between $4 to $6 billion or more.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:18 pm

CBSTF

CRLBF

VRNOF

FiSai US Management, a major creditor of The Cannabist Company, has publicly expressed concerns over the company's management and financial strategy. FiSai holds $50 million in secured notes and is worried about The Cannabist's liquidity issues and debt burden, which includes $60 million due by 2025 and $185 million by 2026. The lender criticized the company's 'pray and hope' approach and its recent asset sale to Verano, as well as a failed merger with Cresco.

Portfolio Pulse from Rolando García

October 04, 2024 | 8:13 pm

RIO

Rio Tinto is in discussions to acquire Arcadium Lithium, with the deal potentially valuing Arcadium between $4 billion and $6 billion or more, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:12 pm

APD

Activist investor Mantle Ridge has acquired a stake worth over $1 billion in Air Products and plans to push for strategic improvements at the industrial gas manufacturer.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:10 pm

PBM

Psyence Biomed (NASDAQ:PBM) has decided not to proceed with the acquisition of Clairvoyant Therapeutics. The company is focusing on its Phase IIb clinical trial for psilocybin-based treatment in palliative care, with results expected in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:07 pm

DIS

PARA

PARAA

Paramount Global (NASDAQ:PARA) could benefit from acquiring additional NFL content through its merger with Skydance Media. Talks with the NFL include potential acquisitions of NFL Media and Skydance Sports. ESPN's discussions with the NFL have stalled, potentially favoring Paramount.

Portfolio Pulse from Chris Katje

October 04, 2024 | 6:25 pm

AAL

DAL

JBLU

LTM

SAVE

UAL

Spirit Airlines is considering bankruptcy after a failed merger with JetBlue, which was blocked by U.S. antitrust regulators. The airline faces financial struggles due to engine issues and intense competition. The stock has dropped significantly, losing over 85% of its value in 2024.

Portfolio Pulse from Anthony Noto

October 04, 2024 | 5:09 pm

MSFT

Blizzard Entertainment has confirmed that Diablo 4 will be enhanced for the PS5 Pro, marking the first Microsoft-owned game to support Sony's console upgrade. This enhancement is part of Microsoft's broader strategy following its acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

October 04, 2024 | 4:43 pm

FANG

XOM

Diamondback Energy's stock is climbing following an upgrade by BMO Capital Markets, citing synergies from the Endeavor acquisition and a strong position in the Midland Basin. Analyst Phillip Jungwirth raised the price target for Diamondback Energy from $205 to $215.

Portfolio Pulse from Priya Nigam

October 04, 2024 | 4:21 pm

CDE

Coeur Mining (CDE) shares fell by 7.06% after announcing a $1.7 billion acquisition of SilverCrest Metals. The deal, pending court approval, will make Coeur a leading global silver producer. The acquisition is expected to boost free cash flow and accelerate debt reduction.

Portfolio Pulse from Henry Khederian

October 04, 2024 | 4:13 pm