Streetbeat News

Acquisitions Mergers

TCBI

Texas Capital Bancshares announced strategic acquisitions, balance sheet repositioning, and new initiatives as part of its transformation plan. The company aims to enhance client services and long-term value creation. Key actions include acquiring a $400 million healthcare portfolio, selling $1.24 billion in securities to purchase higher-yielding ones, and launching new platforms like Direct Lending and Public Finance.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 12:06 pm

CLF

X

US Steel shares rose as Cleveland-Cliffs expressed interest in acquiring and investing in assets that US Steel may shut down.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 12:04 pm

PBM

Psyence Biomedical's shares rose following the announcement of a conditional binding term sheet to acquire Clairvoyant Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 11:39 am

CDAQ

Compass Digital Acquisition (CDAQ) has announced a business combination with EEW Renewables, valuing the enterprise at $386 million. The deal is expected to close in Q1 2025, with EEW shareholders owning 79% of the new entity. The combined company plans to list on Nasdaq.

Portfolio Pulse from Nabaparna Bhattacharya

September 06, 2024 | 11:36 am

PBM

Psyence Biomedical has entered a conditional binding term sheet to acquire Clairvoyant Therapeutics. The acquisition involves issuing $500,000 in common shares and potential additional payments based on milestone achievements. Psyence will also provide up to $1.80 million to settle Clairvoyant's liabilities.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 11:32 am

INTC

MBLY

Intel is considering selling up to 88% of its stake in Mobileye amid financial pressures, as both companies face significant stock declines. Mobileye has struggled with reduced auto production and weak demand from China, while Intel's Network and Edge business has seen revenue drops. Intel is also exploring options for its enterprise networking division and seeking to boost its contract chip business.

Portfolio Pulse from Anusuya Lahiri

September 06, 2024 | 11:22 am

CRM

FEPI

IGV

Salesforce is acquiring Own Company for $1.9 billion to enhance its data security offerings. The acquisition is expected to close in Salesforce's fiscal year 2025 and will be accretive to free cash flow in the second year post-closing. Salesforce also declared a quarterly dividend and reported strong Q2 earnings.

Portfolio Pulse from Lekha Gupta

September 06, 2024 | 10:04 am

NPSCY

X

The U.S. is considering blocking Nippon Steel's acquisition of U.S. Steel due to national security concerns, causing tension with Japan. Japanese leaders warn this could harm U.S.-Japan relations. The deal faces opposition from U.S. labor unions and political figures.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:45 am

INTC

MBLY

Intel is reportedly exploring the sale of part of its stake in Mobileye, a move that could impact both companies' stock prices. This decision comes as Intel seeks to optimize its portfolio and focus on core operations.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 9:39 am

CRM

Salesforce CEO Marc Benioff announced a strategic pivot towards autonomous AI agents, named Agentforce, to maintain competitiveness in the AI era. This move responds to a critical blog post by Andreessen Horowitz and aims to automate customer service tasks. Salesforce is testing Agentforce with companies like Wiley and Open Table, and Benioff remains optimistic about the company's AI-driven transformation.

Portfolio Pulse from Benzinga Neuro

September 06, 2024 | 9:39 am