Streetbeat News

Acquisitions Mergers

AVGO

KKR

Broadcom Inc (NASDAQ:AVGO) is reportedly nearing a deal to sell a software division acquired through its VMware takeover to KKR & Co (NYSE:KKR) for about $4 billion. The sale, expected to be announced on Monday, is part of Broadcom's strategic shift towards cloud services. The division specializes in software for remote desktop and application access. Broadcom is also looking to sell another VMware asset, Carbon Black, for around $1 billion. This move follows Broadcom's acquisition of VMware in November after an 18-month regulatory review.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 12:01 pm

AAPL

GOOG

MSFT

In a recent court document, Google revealed that Microsoft had proposed to sell Bing to Apple in 2018, a deal that never materialized due to quality concerns from Apple. This disclosure is part of Google's ongoing antitrust case, highlighting competition in the search engine market. Despite Microsoft's significant investment in Bing, its market share remains low. However, Microsoft's collaboration with OpenAI could potentially enhance Bing's competitiveness.

Portfolio Pulse from Rounak Jain

February 26, 2024 | 11:41 am

PLTK

Playtika announces plans to allocate $600M-$1.2B for mergers and acquisitions over the next three years, initiate a quarterly dividend of $0.10 per share, and explore additional shareholder return enhancements such as a share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:40 am

DNN

Denison Mines has finalized the acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada, with the terms of the deal remaining undisclosed. Additionally, Penetrators has committed to an exclusive 10-year agreement with Denison for the use of these systems in uranium mining applications in Saskatchewan.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:36 am

IBM

IBM has made updates to its management system and reporting segments, including the divestiture of the Weather Company and the relocation of Security Services to its Consulting segment. These updates are stated not to impact IBM's consolidated results.

Portfolio Pulse from Charles Gross

February 26, 2024 | 11:18 am

FDP

Fresh Del Monte Produce (FDP) is exploring strategic alternatives for its Mann Packing operation following a strategic review. This review led to a non-cash impairment of $131.2 million, primarily associated with Mann Packing. The company aims to improve profitability through innovations, strategic partnerships, and cost control.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:09 am

VALE

Vale Base Metals announced that Vale Canada Limited and Sumitomo Metal Mining are set to divest around 14% of their combined equity interest in PT Vale Indonesia Tbk to PT Mineral Industri Indonesia. Vale Canada is expected to receive approximately $160M for its stake.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:26 am

AMZN

GE

WBA

Amazon.com Inc (NASDAQ:AMZN) is set to replace Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in the Dow Jones Industrial Average (DJIA), sparking concerns due to historical precedents where stocks added to the DJIA underperformed. Charlie Bilello highlighted that Walgreens' stock dropped 58% since its addition in 2018, while the DJIA and the replaced company, General Electric (NYSE:GE), gained significantly. Despite concerns, Amazon's strong fundamentals and recent performance suggest potential for continued momentum.

Portfolio Pulse from Shanthi Rexaline

February 26, 2024 | 10:05 am

STLA

Stellantis (NYSE:STLA) has entered into a multi-billion euro agreement with Ayvens to sell up to 500,000 vehicles in Europe over the next three years. The deal, aimed at bolstering sustainable mobility, involves Stellantis supplying a range of vehicles from its brands, including Alfa Romeo and Jeep, to Ayvens' leasing fleet. This move follows Stellantis' strong 2023 earnings and is part of its strategy to invest in electrification and achieve a 100% BEV sales mix in Europe by 2030.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 8:48 am

UBS

Ant Group has outbid Citadel Securities for Credit Suisse's investment bank venture in China, a move that could face regulatory challenges due to China's preference for a foreign buyer. This development complicates UBS's situation, as it must choose between Ant's higher bid and Citadel's lower offer, which may have a better chance of regulatory approval. UBS, which acquired Credit Suisse, is also dealing with geopolitical tensions and a struggling economy, impacting its ability to attract global interest for the sale.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 8:22 am