Streetbeat News

Acquisitions Mergers

BHP

COP

DBRG

EQT

TDS

TGI Fridays has filed for Chapter 11 bankruptcy, aiming to restructure its finances while keeping its company-owned locations open. Meanwhile, several companies are involved in M&A activities, including ConocoPhillips auctioning shale assets and BHP Group retracting previous comments on a failed acquisition.

Portfolio Pulse from Anthony Noto

November 02, 2024 | 3:00 pm

FCPT

Four Corners Property Trust (FCPT) has acquired a Miller's Ale House property in Georgia for $3.8 million. The property is under a long-term net lease with 11 years remaining, and the transaction was priced at a 7.2% cap rate.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 10:54 pm

DHI

FOR

Forestar Group Inc. and D.R. Horton, Inc. have entered into an Amended and Restated Stockholder's Agreement, increasing the approval threshold for capital expenditures from $20 million to $45 million. D.R. Horton owns approximately 62% of Forestar's outstanding common stock.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:43 pm

PNTG

The Pennant Group, Inc. (NASDAQ:PNTG) has acquired operations of three senior living facilities in Wisconsin, enhancing its regional presence. The acquisition, effective November 1, 2024, adds 125 units under Pennant's management, supporting its growth strategy in the senior living sector.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:37 pm

COOP

FLG

Flagstar Bank has completed the sale of its mortgage servicing business and related assets to Mr. Cooper Group for $1.3 billion in cash. This transaction is expected to boost Flagstar's CET1 capital ratio by 60 basis points.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:34 pm

HST

JWSM

Jaws Mustang Acquisition Corporation has suspended its pursuit of a hospitality business combination after Starwood Capital Entities sold a key hotel to Host Hotels & Resorts. Jaws has not found a suitable replacement for the hotel in its portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:23 pm

CGBS

Crown LNG Holdings Limited (NASDAQ:CGBS) has finalized agreements to acquire LNG import terminal assets in Kakinada, India, and Grangemouth, Scotland. The acquisitions, valued at $60M and $25M respectively, will be paid in Crown LNG shares. These strategic moves aim to enhance Crown LNG's presence in the global LNG infrastructure network.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:21 pm

DISH

Dish Network Corp. bondholders are expected to reject the company's latest debt exchange offer, which is crucial for its proposed acquisition by DirecTV. The bondholders find the proposed $1.5 billion loss on the swap unworkable, having previously offered to take a $300 million loss.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 7:43 pm

FYBR

VZ

Institutional Shareholder Services (ISS) recommends Frontier Communications shareholders abstain from voting on Verizon's $20 billion takeover bid, suggesting the potential for more value in the future. Verizon's offer of $38.50 per share faces opposition from some shareholders, including Glendon Capital Management, which believes the offer undervalues Frontier. Frontier, however, urges shareholders to support the deal, citing it as the most favorable option.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 7:07 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are experiencing volatility due to the upcoming 2024 U.S. presidential election. The stock surged in October due to a short squeeze but is currently down 11.3%. Speculation about a potential merger with Elon Musk's X (formerly Twitter) has not been confirmed.

Portfolio Pulse from Vaishali Prayag

November 01, 2024 | 6:25 pm