Streetbeat News

Acquisitions Mergers

HOVR

Horizon Aircraft Ltd. (NASDAQ:HOVR) has signed an LOI with JetSetGo for the purchase of up to 100 Cavorite X7 eVTOL aircraft, potentially worth $500M. The initial commitment is for 50 aircraft at $5M each, totaling $250M. The Cavorite X7 is a hybrid electric aircraft designed for challenging operations without the need for charging infrastructure. This deal aligns with JetSetGo's vision for sustainable and efficient regional travel in India and potentially other global markets.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:24 pm

LYB

LyondellBasell (LYB) is set to acquire a 35% stake in Saudi Arabia's NATPET from Alujain Corporation for approximately $500 million. This joint venture will enhance LYB's access to advantaged feedstocks and attractive markets, including existing assets and planned growth projects.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:19 pm

BFRG

BullFrog AI Holdings, Inc. announced the issuance of an Australian patent for novel prodrugs of mebendazole for cancer treatment. The compounds, including BF-223, show improved solubility and bioavailability, addressing challenges in using mebendazole for oncology. This follows a U.S. patent issued in July 2023 and positive preclinical study results for glioblastoma treatment. The company aims to monetize this asset with strategic partners.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:15 pm

ANSS

SNPS

Synopsys has announced its intention to acquire Ansys, with Ansys shareholders set to receive $197 in cash and 0.3450 shares of Synopsys common stock for each share of Ansys they own.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:14 pm

STLA

SIXT and Stellantis have announced a multi-billion euro agreement for SIXT to purchase up to 250,000 Stellantis vehicles by 2026 for its rental fleet in Europe and North America. The deal includes a variety of vehicle classes and propulsion types, including battery electric vehicles (BEVs), and aligns with both companies' decarbonization strategies. Deliveries will start in Q1 2024. The partnership also explores cooperation in data services and aims to enhance customer experience with connected vehicles and streamlined rental processes. Stellantis aims for a 100% BEV sales mix in Europe and 50% in the US by 2030, while SIXT targets a 70-90% electrified fleet in Europe by 2030.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:12 pm

STLA

SIXT and Stellantis have entered into a multi-billion euro agreement for SIXT to purchase up to 250,000 vehicles over the next three years for its rental fleet in Europe and North America. Significant deliveries will start in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:04 pm

CODI

Compass Diversified (NYSE:CODI) has agreed to partner with The Honey Pot Company, a 'better-for-you' feminine care brand, for $380 million. The Honey Pot Co. will maintain its current leadership team and existing owners and management will keep a significant minority stake.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:03 pm

KR

Analysts have provided mixed ratings for Kroger (NYSE:KR) with an average 12-month price target of $51.8, up from $51.33. Recent actions include maintaining and lowering ratings with price targets ranging from $46 to $55. Kroger's financials show a slight revenue decline, strong net margin, ROE, and ROA, with a healthy debt-to-equity ratio. The company's proposed $25 billion acquisition of Albertsons is pending regulatory approval.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:00 pm

BX

Blackstone Inc. (NYSE: BX) is planning to double its private equity team in Singapore within two years to capitalize on increasing deal opportunities in Southeast Asia. The expansion aims to bring Blackstone closer to its investor base in the region. The company is focusing on sectors such as technology, healthcare, consumer, financial services, and value-added industrial, targeting deals as small as $150 million. This move is part of a broader shift by financial investors away from China due to geopolitical tensions and a slow economic recovery.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 12:58 pm

TALO

Talos Energy Inc (NYSE:TALO) shares are up after announcing an acquisition deal with QuarterNorth Energy Inc worth $1.29 billion, comprising $965 million in cash and 24.8 million Talos shares. The deal, expected to close by end of Q1 2024, will add around 30 MBoe/d production and 69 MMBoe in proved reserves. The transaction is anticipated to be accretive to Talos's financial metrics and generate $50 million in annual synergies by year-end 2024.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 12:54 pm