Streetbeat News

Acquisitions Mergers

GPI

Group 1 Automotive, Inc. (NYSE:GPI) has appointed Mark Raban as CEO of its UK operations. Raban, with over 20 years of experience, will oversee the integration of Inchcape dealerships and focus on strategic growth and customer experience in the UK.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 6:50 am

BY

Byline Bancorp and First Security Bancorp have entered a definitive merger agreement valued at $41 million. Byline will issue 2.1794 shares of its common stock for each First Security share, with the transaction valued at $38.4 million based on Byline's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 9:59 pm

IAG

IAMGOLD has submitted a formal notice to Sumitomo Metal Mining to repurchase a 9.7% interest in the Côté Gold Mine, which will restore IAMGOLD's full 70% ownership. The transaction is expected to close on November 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 9:06 pm

DMLP

Dorchester Minerals, L.P. has completed two acquisitions of mineral, royalty, and overriding royalty interests, exchanging these for common units in the partnership. The financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:18 pm

ULH

Universal Logistics Holdings has acquired Parsec for $193.6 million, expanding its logistics capabilities.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:12 pm

SOL

Emeren Group's shares rose following the announcement of selling its 57 MWp solar project portfolio to Trina Solar. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 6:39 pm

CCL

EMKR

PRTA

STLA

U.S. stocks fell with the Dow Jones down 300 points. Carnival Corporation reported better-than-expected earnings. EMCORE Corporation shares surged after an acquisition offer. Prothena Corporation shares dropped due to leadership changes. Stellantis lowered its FY24 guidance.

Portfolio Pulse from Avi Kapoor

September 30, 2024 | 6:26 pm

CPRI

TPR

The antitrust trial concerning Tapestry Inc.'s $8.5 billion acquisition of Capri Holdings Ltd. is reaching a critical point as closing arguments are presented. The decision by US District Judge Jennifer Rochon could significantly impact hedge funds and investors betting on the outcome. The trial has seen arguments from both sides, with Tapestry and Capri defending the merger against the FTC's claims of reduced competition in the 'accessible luxury' market. Capri's stock has seen a rise, indicating investor optimism about the deal's closure.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 6:11 pm

AAPL

SoftBank's Vision Fund is set to invest $500 million in OpenAI, while Apple has reportedly withdrawn from participating in the funding round. OpenAI is raising $6.5 billion in convertible notes, with a current valuation of $150 billion. The investment is contingent on OpenAI restructuring its corporate structure.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 5:39 pm

LVMUY

LVMH has sold Off-White LLC, the company owning the Off-White brand, to Bluestar Alliance. The terms of the transaction have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 5:04 pm