Streetbeat News

Acquisitions Mergers

WCC

Wesco has announced an agreement to sell its Wesco Integrated Supply business to Vallen Distribution, a portfolio company of Nautic Partners, for $350 million. This strategic move allows Wesco to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:06 pm

AZN

SLN

Silence Therapeutics plc (SLN) has received a $10M milestone payment from AstraZeneca following the initiation of a Phase 1 trial for the first product candidate under their siRNA collaboration. This marks the first clinical milestone in the partnership aimed at developing therapies for cardiovascular, renal, metabolic, and respiratory diseases. The collaboration, which began in March 2020, could see Silence receiving up to $140M in development milestones and $250M in commercialization milestones per target, with the deal covering up to ten targets.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:05 pm

ACBA

Ace Global Business Acquisition Limited (ACBA) announced an extension for completing a business combination until April 8, 2024, thanks to a $98,858.95 contribution to its Trust Account by its sponsor, Ace Global Investment Limited. This extension, funded at approximately $0.05 per share, allows ACBA more time to finalize a business combination. A promissory note was issued to the sponsor, convertible into company units at $10.00 per unit upon a successful business combination.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:03 pm

ENVB

Enveric Biosciences has announced an agreement to sell its cancer-targeting cannabinoid-related intellectual property. This move could indicate a strategic shift or focus for the company, potentially impacting its future revenue streams and research directions.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:02 pm

TGH

Textainer has announced that its shareholders have approved the company's pending acquisition by Stonepeak. Additionally, the necessary antitrust approvals have been received, clearing significant hurdles for the completion of the acquisition.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:41 pm

ADI

NVDA

SONY

TSM

Taiwan Semiconductor Manufacturing Co (TSM) is driving a semiconductor investment boom in Japan, particularly in Kumamoto, attracting Taiwanese and Southeast Asian investors. This move, partly a response to U.S. sanctions on China, has also spurred the expansion of CTBC Bank and other Taiwanese banks into Japan to support the growing semiconductor market. TSMC's new facilities, including a second factory for 6-nm chips, are set to bolster Japan's semiconductor industry, with mass production aimed to supply major companies like Sony and Denso. Analog Devices, Inc (ADI) has also partnered with TSMC's subsidiary JASM for long-term wafer capacity. TSMC's stock has seen a significant increase, reflecting the positive market response to its expansion and the ongoing AI investment frenzy.

Portfolio Pulse from Anusuya Lahiri

February 23, 2024 | 12:36 pm

BMY

Bristol Myers Squibb announced the expiration of its tender offer for RayzeBio and received a positive CHMP opinion for Reblozyl (luspatercept) for treating transfusion-dependent anemia in adults with low-to-intermediate-risk Myelodysplastic Syndromes (MDS).

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:02 pm

WDS

Woodside Energy Group Ltd (NYSE:WDS) shares dropped in premarket trading after announcing a sale and purchase agreement with JERA for a 15.1% stake in the Scarborough Joint Venture for $1.4 billion. The deal includes a purchase price of approximately $740 million and reimbursement for JERA's share of expenses since January 2022. The transaction is expected to close in the second half of 2024, leaving Woodside with a 74.9% interest in the venture. Additionally, Woodside and JERA agreed on a non-binding deal for the sale of six LNG cargoes annually for ten years starting 2026 and a collaboration on new energy initiatives to support decarbonization.

Portfolio Pulse from Lekha Gupta

February 23, 2024 | 11:53 am

AGI

Alamos Gold has committed to purchasing securities in GFG Resources' private placement to maintain its 9.99% interest in the company post-offering. GFG Resources aims to raise up to C$3.3 million through this offering.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 11:05 am

BA

UAL

United Airlines Holdings, Inc. (NASDAQ:UAL) has expanded its Flight Training Center in Denver with a new 150,000-square-foot building, increasing its pilot training capacity. The expansion allows for training up to 240 additional pilots per day, supporting the airline's growth and its plan to add a significant number of new aircraft to its fleet. United has hired over 2,300 pilots in 2023 and plans to restart direct flights to Israel in March, being the first U.S. carrier to do so since the Gaza war in October. The airline's shares closed higher by 2.75% to $45.26.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 10:58 am