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Acquisitions Mergers

SNDA

Sonida Senior Living announced a $47.75M equity raise to fund the purchase of $77.4M of mortgage debt at a 48% discount, invest in high-returning capital projects, and set aside $25M for potential acquisitions and working capital.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:34 pm

DNOW

DNOW Inc. has announced an agreement to acquire Whitco Supply, LLC in an all-cash transaction. The acquisition is subject to regulatory approvals and customary closing conditions. Whitco Supply, founded in 2003, serves the midstream market and broader energy sectors, with around 230 employees across eight locations in the US.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:48 am

INGR

Ingredion forecasts its full-year 2024 adjusted EPS to be between $9.15 and $9.85, with an estimated average of $9.76. The outlook includes the impact of the divestiture of its South Korea business. Excluding this divestiture, net sales are expected to be flat to slightly up, while reported operating income could increase by low to mid-double digits, thanks to the expected gain from the divestiture. Adjusted operating income is anticipated to rise by mid-single digits.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:10 am

EWJ

TM

TSM

Toyota has announced an investment in TSMC's Kumamoto plant in Japan, according to Nikkei. This strategic move is aimed at securing a stable supply of semiconductors amidst global shortages, highlighting the deepening collaboration between the automotive and semiconductor industries.

Portfolio Pulse from Charles Gross

February 06, 2024 | 10:40 am

BRO

Brown & Brown (Europe) Limited has completed the acquisition of 100% of the share capital of Oxlea Investments Ltd, which operates under the name Stewart & Partners. Stewart & Partners, located in Welling, Kent, will be integrated into the Green Insurance Group, a South East retail broker under Brown & Brown.

Portfolio Pulse from Charles Gross

February 06, 2024 | 10:13 am

SAP

TSLA

SAP SE (NYSE:SAP) has stopped purchasing vehicles from Tesla Inc (NASDAQ:TSLA) for its fleet, citing price fluctuations and delivery issues. Meanwhile, Dartmouth College plans to incorporate Tesla Model Ys into its fleet, aiming to transition over half of its current fleet to these electric vehicles.

Portfolio Pulse from Anan Ashraf

February 06, 2024 | 9:20 am

BREA

Brera Holdings PLC (NASDAQ:BREA), an Italian football team that IPO'd on Nasdaq, has filed a Form F-3 shelf registration with the SEC to support its global expansion and acquisition strategy. This move aims to acquire and integrate football teams worldwide, enhancing shareholder value and promoting the sport's international development.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:18 am

CMCSA

GOOG

GOOGL

T

VZ

Alphabet Inc. is seeking external investment for its GFiber internet business to accelerate growth. GFiber, competing with Comcast, Verizon, and AT&T, has expanded to 15 states and plans to reach over 25 additional cities. Alphabet aims to scale GFiber's technical leadership and reach by raising external capital, potentially leading to GFiber becoming independent. This move follows GFiber's significant expansions and the introduction of a 20Gbps internet service.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 8:09 am

BP

BP anticipates a slight increase in both reported and underlying upstream production for 2024 compared to 2023, with higher oil production and lower gas & low carbon energy production. The company expects capital expenditure to be around $16 billion, mainly in the first half, and divestment proceeds of $2-3 billion, mainly in the second half. Growth is expected in the convenience sector, including contributions from TravelCenters of America, and in Castrol and bp pulse due to volume growth and higher energy sold. However, industry refining margins are expected to be lower, with refinery activity impacting financial performance similarly to 2023. The annual charge for other businesses & corporate is projected at $1.0 billion, and depreciation, depletion, and amortization slightly higher than 2023. The underlying ETR for 2024 is expected to be around 40%, sensitive to price volatility. Gulf of Mexico oil spill payments are anticipated to be $1.2 billion pre-tax.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:54 am

UBS

UBS Group AG (NYSE:UBS) announced a $1 billion share buyback following a Q4 performance that exceeded expectations, despite a net loss of $279 million due to Credit Suisse integration costs. The loss was narrower than analysts' expectations, and UBS plans a dividend increase of 27% year-on-year. The bank has seen a quick return of client inflows to Credit Suisse's wealth management business since its takeover. UBS is focusing on growth and improving its image, with significant investments and a major branding campaign underway.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 7:34 am