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Acquisitions Mergers

PFE

Pfizer Inc (NYSE:PFE) has agreed to pay $93 million to settle an antitrust lawsuit over its cholesterol drug Lipitor, accused of delaying generic versions with Ranbaxy Laboratories. The settlement, pending judge approval, ends over a decade of legal battles without Pfizer admitting liability. The lawsuit against Ranbaxy, now owned by Sun Pharma, continues. This adds to Pfizer's recent legal challenges, including patent infringement lawsuits and allegations of misleading COVID-19 vaccine efficacy.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 7:24 am

TSLA

Elon Musk has declared a boycott against acquiring Delaware-incorporated companies due to a recent legal setback in Delaware, where a judge invalidated his $56 billion pay package at Tesla. Musk's stance follows a ruling by Delaware's Court of Chancery and has led to his companies, including Neuralink and SpaceX, moving their incorporations to Nevada and Texas, respectively. Tesla's incorporation move to Texas is pending a shareholder vote.

Portfolio Pulse from Anan Ashraf

February 15, 2024 | 7:23 am

TSLA

Tesla Inc (NASDAQ:TSLA) is reportedly close to entering the Indian market as the local government finalizes a policy to offer reduced import duties for electric cars priced over $36,000. This move, which could last 2-3 years, aims to replace the initial plan of bank guarantees for Tesla's proposed $2 billion investment in an Indian electric vehicle factory. The reduced import duty rate of 15% for the initial years is intended to encourage foreign automakers to start local manufacturing, boosting employment and reducing electric vehicle prices through domestic production.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 15, 2024 | 6:20 am

COIN

META

NVDA

TSLA

Cathie Wood's Ark Invest adjusted its portfolio by increasing stakes in Tesla and Meta Platforms, while reducing holdings in Coinbase and Nvidia. The firm's strategic moves reflect its response to market dynamics and growth prospects, with purchases and sales made through various Ark ETFs. The adjustments highlight Ark's confidence in Tesla and Meta's future growth, while taking profits in Coinbase and addressing valuation concerns in Nvidia.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 3:32 am

TSLA

SpaceX, owned by Elon Musk, has filed to change its incorporation location from Delaware to Texas, following a similar move by Neuralink. This decision comes after a Delaware court ordered Tesla to revoke Musk's 2018 pay package. Musk has been vocal about his dissatisfaction with the Delaware court and has urged other companies to relocate from Delaware. Neuralink recently moved its incorporation from Delaware to Nevada. Additionally, SpaceX announced a controlled descent of about 100 Starlink satellites due to a potential issue.

Portfolio Pulse from Benzinga Neuro

February 15, 2024 | 1:04 am

AREN

The Arena Group (NYSE:AREN) announced a $12M equity investment from its largest shareholder, Simplify Inventions, LLC, at an 85% premium over the last closing price. This investment raises Simplify's stake to 54.5% and is aimed at supporting the company's transition to a profitable multi-media business. Additionally, The Arena Group is negotiating a new publishing license with Authentic Brands Group and is involved in a proposed merger with Bridge Media Networks to form The Arena Group Holdings, Inc., which is expected to enhance its digital media portfolio and revenue opportunities.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:54 pm

EVE

EVe Mobility Acquisition has announced a third extension of its deadline to complete an initial business combination, now set for March 17, 2024. This move indicates ongoing efforts to finalize a significant business deal.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 11:02 pm

NVDA

SOUN

SoundHound AI Inc (NASDAQ:SOUN) shares surged in after-hours trading following 13-F filings revealing a 5.6% passive stake by BlackRock and a disclosed position by Nvidia Corp (NASDAQ:NVDA). SoundHound, a conversational intelligence company, is anticipated to report Q4 results soon. The company's stock was up 37.92% after hours at $3.11.

Portfolio Pulse from Adam Eckert

February 14, 2024 | 10:50 pm

META

PCG

TMUS

VZ

Third Point, an investment firm, has made significant changes to its portfolio by dissolving its stake in T-Mobile (TMUS), increasing its stake in Meta Platforms (META) by 5.5% to 1.16 million shares, acquiring approximately 4.7 million shares in Verizon (VZ), and increasing its stake in PG&E (PCG) by 1.8% to approximately 57.86 million shares.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:14 pm

COYA

Greenlight Capital has acquired approximately 834,000 shares in Coya Therapeutics, marking a new position in the company's portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 10:13 pm