Streetbeat News

Acquisitions Mergers

ACHR

ARKF

ARKK

COIN

SOFI

TXG

U

Ark Invest, led by Cathie Wood, sold $6.6M worth of Coinbase (COIN) shares as the crypto exchange experienced a significant Bitcoin (BTC) withdrawal, leaving it with its lowest reserve since 2015. The sale occurred through ARKK and ARKF ETFs. Despite this, Coinbase's Q4 earnings exceeded expectations. Ark also made notable investments in SOFI, TXG, U, and ACHR, indicating a bullish stance on these companies.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:52 am

TSLA

Tesla Inc (TSLA) will proceed with the expansion of its Giga Berlin factory despite a local vote against cutting trees for the expansion. Executive Rohan Patel stated the vote has 'zero impact' on future plans, emphasizing the company's commitment to environmental sustainability and community engagement. The expansion aims to double the plant's capacity for battery and car production, despite the non-binding local vote posing a challenge.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 3:56 am

NPSCY

X

A Reuters poll indicates nearly half of Japanese companies view a potential Trump presidency as a business risk, primarily due to concerns over protectionist policies. The apprehension stems from Trump's stance on blocking the acquisition of United States Steel Corporation (NYSE:X) by Nippon Steel Corporation (OTC:NPSCY), which could impact future acquisitions and shareholder interests in U.S. Steel.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 2:06 am

CCLP

KGS

Kodiak Gas Services and CSI Compressco have announced they have received the necessary consents from their supporting unitholders to proceed with their merger. This step is crucial for the completion of the merger process, indicating that both companies have secured the approval from a significant portion of their stakeholders.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:36 pm

STRS

Stratus Properties Inc. (STRS) received an unsolicited acquisition proposal from NXSTEP Opportunity Partners at $27.18 per share, which was later increased to $27.30 per share. Stratus' Board unanimously rejected the offer, stating it undervalues the company. Oasis Management Company Ltd., a Stratus stockholder, supports NXSTEP's proposal. Stratus plans to consider its options and respond to NXSTEP accordingly.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:35 pm

DOC

PEAK

Healthpeak Properties and Physicians Realty Trust have received approval from their respective stockholders and shareholders for a merger. Under the agreement, Physicians Realty Trust shareholders will receive 0.674 of a newly issued Healthpeak share for each share they owned prior to the merger.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:31 pm

AEAE

Car Tech and AltEnergy Acquisition Corp (AEAE) have entered into a definitive business combination agreement, although the specific terms of the deal have not been disclosed. This move could potentially impact AEAE's stock price as investors react to the news of the merger.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:29 pm

CHRD

ERF

Enerplus shareholders will receive 0.10125 shares of Chord common stock and $1.84 in cash for each common share of Enerplus owned at closing, as per the agreement terms.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:27 pm

CHRD

ERF

Chord Energy Corporation (CHRD) and Enerplus Corporation (ERF) announced a definitive arrangement to combine in an $11 billion transaction, creating a premier Williston Basin-focused E&P company. The combined entity will have 1.3 million net acres, 287,000 Boepd production in 4Q23, and is expected to generate significant free cash flow and shareholder returns. The deal, comprising 90% stock and 10% cash, will see Chord shareholders owning 67% and Enerplus shareholders 33% of the new company. The merger aims to enhance operating scale, drive returns, and achieve cost synergies up to $150 million annually, with a post-transaction return of capital at 75%+ of free cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:26 pm

ALEX

Alexander & Baldwin, Inc. (ALEX) announced a build-to-suit lease and two sales at its Maui Business Park Phase II project in Kahului, Maui. The project includes a lease to a national food manufacturer for a warehouse and distribution facility, the sale of 12.5 acres to the County of Maui for a Department of Transportation facility, and the sale of two lots to Hamai Appliances, Inc. for a showroom and service center. The project's final phase offers commercial space for various uses, with infrastructure improvements to be completed by early 2026.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:10 pm