Streetbeat News

Acquisitions Mergers

EE

Excelerate Energy has entered into a 15-year agreement with QatarEnergy to purchase up to 1 million tonnes of LNG annually, to be delivered ex-ship in Bangladesh. This long-term deal secures a steady supply of LNG for Excelerate Energy, enhancing its position in the energy market and potentially impacting its stock performance.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:31 am

MGRC

WSC

WillScot Mobile Mini has agreed to acquire McGrath RentCorp for $3.8 billion, causing McGrath RentCorp's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:20 am

MGRC

WSC

WillScot Mobile Mini (WSC) has agreed to acquire McGrath RentCorp (MGRC) for an enterprise value of $3.8 billion, which includes around $800 million of net debt. McGrath shareholders will have the option to receive either $123.00 in cash or 2.8211 WSC shares per MGRC share, representing a 10.1% premium over MGRC's closing price on January 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:03 am

GMDA

Gamida Cell is actively exploring strategic alternatives while prioritizing the commercialization of its FDA-approved cell therapy, Omisirge (omidubicel-onlv).

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 11:01 am

EE

Excelerate Energy Inc (NYSE:EE) has signed a 15-year LNG sale and purchase agreement with QatarEnergy to supply up to one million tons per annum of LNG to Bangladesh starting January 2026. The deal involves deliveries to floating storage and regasification units in Bangladesh, with volumes starting at 0.85 MTPA in 2026 and 2027, increasing to one MTPA from 2028 to 2040. This agreement follows a similar deal made with Petrobangla in November for the same time period. Excelerate's Q4 and full year 2023 results are expected on February 28, 2024. EE shares saw a slight increase of 0.52% to close at $15.54 on Friday.

Portfolio Pulse from Lekha Gupta

January 29, 2024 | 10:40 am

CCGDF

China plans to merge three state-owned bad debt asset managers with its sovereign wealth fund, China Investment Corp, to stabilize the capital markets and restore investor confidence. This follows a stock market drop due to financial risks in the real estate sector and a recent suspension of restricted share lending. The merger is part of Beijing's reform agenda and comes after the central bank's move to ease the cash crunch for developers. Despite efforts to reassure investors, concerns about China's economic health and potential banking system collapse remain.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 9:22 am

BA

EADSY

UAL

United Airlines is in early discussions with Airbus to acquire more A321neo jets as a response to delays in the delivery of Boeing's 737 Max 10. United CEO Scott Kirby initiated the talks due to concerns over the Max 10's certification, exacerbated by a recent mid-air emergency with an Alaska Airlines 737 Max 9. United has not canceled its order for 277 Max 10 jets but has removed them from internal plans. Boeing faces challenges with the 737 Max 9, which was temporarily grounded due to a door plug incident, and ongoing quality issues that could impact the U.S. economy.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 8:19 am

HLNE

Hamilton Lane (NASDAQ:HLNE), a private markets investment management firm, has expanded its global Real Assets Investments Team by hiring Managing Director Dominik von Scheven in Frankfurt and Principal Taylor McManus in Canada. Both will focus on infrastructure investing and report to Brent Burnett. von Scheven, with over two decades of experience, will play a key role in European infrastructure equity investments and continue to grow the firm's Infrastructure Investments platform, which has increased by 35% to $57.6 billion in AUM over the last two years.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 8:12 am

BA

EADSY

UAL

United Airlines CEO Scott Kirby has initiated discussions with Airbus to potentially purchase more A321neo jets. This move comes as a result of delays in the delivery of Boeing's 737 Max 10 aircraft. Kirby's approach to Airbus indicates a possible shift in United's procurement strategy due to the uncertainty surrounding the Boeing 737 Max 10's certification and delivery timeline.

Portfolio Pulse from Charles Gross

January 28, 2024 | 8:35 pm

AAPL

RIVN

DJ Novotney, a key executive involved in Apple's self-driving car project, has left the company to join Rivian Automotive as its senior vice president of vehicle programs. Novotney's departure is part of a series of executive exits from Apple, which may impact its car project. Rivian, on the other hand, could benefit from Novotney's experience as it works on its next-gen EV platform.

Portfolio Pulse from Shanthi Rexaline

January 28, 2024 | 2:21 pm