Streetbeat News

Acquisitions Mergers

SGD

Safe and Green Development (SGD) has expanded its joint venture in Edinburg, Texas by acquiring 22 additional single-family lots. This acquisition builds on a previous one and is expected to close within 60 days. The company aims to deliver all homes by the end of Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:04 pm

LLAP

LMT

Lockheed Martin has signed a definitive agreement to acquire Terran Orbital for $0.25 per share in cash for each outstanding share of common stock and will retire its existing debt. The enterprise value of the deal is approximately $450 million.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 12:47 pm

ROP

Roper Technologies is set to acquire Transact Campus for $1.5 billion, which includes a $100 million tax benefit from the transaction.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 12:35 pm

BA

GCAD

ITA

Boeing Company (NYSE:BA) has finalized a deal with EL AL Israel Airlines for up to 31 737 MAX jets, valued at up to $2.5 billion. This deal supports EL AL's fleet renewal plans and aims to improve fuel efficiency, environmental performance, and passenger comfort. Boeing shares are trading higher premarket. Investors can gain exposure to Boeing via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Gabelli Commercial Aerospace and Defense ETF (NYSE:GCAD).

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 11:36 am

BWLP

BW LPG has agreed to acquire 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas for $1.05 billion. The acquisition includes four dual fuel VLGCs built in 2022 and 2023, and eight scrubber-fitted VLGCs built in 2015. The transaction will be funded through the issuance of 19.282 million new BW LPG shares to Avance Gas, a cash consideration of $585.4 million, and a shareholder loan from BW Group.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:25 am

DEC

Diversified Energy Company reported a net income of $16M for the six months ended June 30, inclusive of $98M in tax benefits, and an adjusted EBITDA of $218M. The company maintained flat production volumes since 4Q2023, with a June 2024 exit rate of 855 MMcfepd, including the impact of the Oaktree Acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:14 am

HEI

Heico shares are trading higher after Berkshire Hathaway added a stake in the company.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:13 am

CARR

Carrier has signed a definitive agreement to sell its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion. Carrier plans to use the estimated $2.2 billion in net proceeds from the transaction for share repurchases.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:05 am

TPR

Tapestry Inc. (TPR) expects FY25 revenue of $6.7 billion, slightly below the estimated $6.80 billion. The company projects earnings per share (EPS) of $4.45 to $4.50, aligning with the estimated $4.49. The EPS forecast includes a $0.35 negative impact from the suspension of share repurchase activity due to the proposed acquisition of Capri Holdings Limited and a $0.20 currency headwind.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:51 am

ALK

HA

Alaska Air and Hawaiian Airlines have agreed with the Department of Justice to extend the review period of their proposed merger until August 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:29 am