Streetbeat News

Acquisitions Mergers

PCRFY

Toyota Motor Corporation (NYSE:TM) is set to acquire full ownership of Primearth EV Energy Co., Ltd. (PEVE), a joint venture with Panasonic Holdings Corporation (OTC:PCRFY), to expand its battery production for electric vehicles. This move aims to enhance Toyota's capabilities in mass-producing automotive batteries, including those for hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs), supporting Toyota's goal of carbon neutrality. The acquisition is expected to be completed in late March.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 1:10 pm

AKTX

PKBO

Akari Therapeutics and Peak Bio have announced a merger of equals. The exchange terms suggest that Akari shareholders and Peak stockholders will each own approximately 50% of the combined company.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:03 pm

CARR

Carrier has reached an agreement to sell its Industrial Fire Business to Sentinel Capital Partners for $1.425 billion. This strategic move is part of Carrier's efforts to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:04 pm

NDAQ

Nasdaq has outlined its strategy for growth and reaffirmed its medium-term outlook, focusing on achieving synergy and deleveraging targets from the Adenza integration. The company aims to realize 70% of its targeted $80 million in net expense synergies ahead of schedule by the end of 2024. Additionally, Nasdaq plans to accelerate its deleveraging process, intending to reach a 4.0x leverage ratio 9-12 months earlier and a 3.3x leverage ratio at least 6 months before its previously announced targets.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:03 pm

CHH

Choice Hotels International, Inc. (CHH) is encouraging Wyndham Hotels & Resorts, Inc. (WH) shareholders to tender their shares before the March 8, 2024 deadline. This move is aimed at persuading Wyndham's board to engage constructively with Choice on a transaction agreement. Choice may extend or terminate the exchange offer based on shareholder participation and is considering nominating independent directors to Wyndham's board.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:36 am

SPMYY

VIAV

VIAVI Solutions (NASDAQ:VIAV) has announced the acquisition of Spirent Communications (OTC:SPMYY) for approximately $1.3 billion in cash. The deal, expected to close in the second half of 2024, aims to combine VIAVI's communications test and measurement technologies with Spirent's testing and assurance solutions, targeting synergies of $75M. The acquisition will be funded through existing cash, a $800 million term loan, and a $400 million investment from Silver Lake, leading to Ken Hao joining the VIAVI board.

Portfolio Pulse from Lekha Gupta

March 05, 2024 | 11:10 am

AMD

ARM

CDNS

DELL

SMCI

Jim Cramer, host of CNBC's 'Mad Money', recommends Dell, AMD, Cadence Design Systems, and Arm Holdings as superior AI investment options over Super Micro Computer. This advice follows Super Micro's significant stock price increase of over 276% this year. Cramer's caution about Super Micro's rapid rise comes amidst concerns of a potential market bubble in AI stocks, as warned by Harvard economist Ken Rogoff.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 11:07 am

HAE

Haemonetics has agreed to acquire Attune Medical for an upfront cash payment of $160 million, with additional contingent consideration based on sales growth over the next three years. This strategic acquisition aims to enhance Haemonetics' product portfolio and market presence.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:02 am

ARKW

NVDA

TSM

Cathie Wood's Ark Invest has been selling Nvidia (NVDA) shares due to valuation concerns but purchased $4M in Taiwan Semiconductor Manufacturing Company (TSM) shares, a key Nvidia supplier. The purchase by ARK Next Generation Internet ETF (ARKW) reflects confidence in TSM's growth prospects, despite a recent slight premarket trading dip.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 10:43 am

AROW

BHLB

Arrow Financial Corporation (NASDAQ:AROW) has acquired a Berkshire Bank branch in Whitehall, New York, from Berkshire Hills Bancorp, Inc. (NYSE:BHLB). The acquisition is part of a deal where Berkshire Bank is selling 10 of its branches in upstate and eastern New York. This sale reduces Berkshire Hills' branch footprint from 96 to 86 locations. All employees of the Whitehall branch will be offered positions within the Arrow Family of Companies, with the sale expected to complete by the end of Q3 2024. Following the sale, Glens Falls National Bank, a subsidiary of Arrow Financial, will operate nine branches in Washington County.

Portfolio Pulse from Nabaparna Bhattacharya

March 05, 2024 | 10:41 am