Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. ONEOK (OKE) and Magellan Midstream Partners (MMP) announced that they have executed a definitive merger agreement under which ONEOK will acquire all outstanding units of Magellan in a cash-and-stock transaction valued at approximately $18.8B including assumed debt, resulting in a combined company with a total enterprise value of $60B. The consideration will consist of $25 in cash and 0.6670 shares of ONEOK common stock for each outstanding Magellan common unit, representing a current implied value to each Magellan unitholder of $67.50 per unit, for a 22% premium, based on May 12, 2023 closing prices. 2. NeoGames (NGMS) announced that it has entered into a definitive Business Combination Agreement to be acquired by Aristocrat Leisure Limited for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2B for NeoGames. 3. In February, Google (GOOGL) held what turned out to be a disastrous launch for Bard, the company’s generative artificial-intelligence chatbot, Eric J. Savitz writes in this week’s edition of Barron’s. The Bing launch went much smoother, with Microsoft (MSFT) CEO Satya Nadella leading the proceedings. This past week at the Google I/O developers conference, Google was back with another round of demos and announcements about artificial intelligence, and this time, the company got it right. AI software has triggered a new battle for control of the internet-and the apps people use every day. It’s an arms race that will be dominated by Microsoft, its partner OpenAI, and Google, the author notes. The real winner will be users, who will get far more capable and intuitive software than they’ve ever had before, the publication adds. 4. Disney’s (DIS) “Guardians of the Galaxy Vol. 3” won this weekend at the domestic box office with another $60.5M debut, making it the best second-weekend hold for any sequel in the Marvel cinematic universe. The super hero movie also crossed the $200M mark domestically as it finished the weekend with a total of $213.2M. Overseas, “Guardians of the Galaxy Vol. 3” earned another $91.9M for a foreign cume of $315.6M and $528.8M globally. 5. Nintendo (NTDOY), Stryker (SYK) and Pfizer (PFE) saw positive mentions in this week’s edition of Barron’s.
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