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Acquisitions Mergers

PARA

PARAA

WBD

Skydance Media is reportedly in discussions for an all-cash bid for a majority stake in National Amusements, the parent company of Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA). The deal would also include a merger of Paramount Global with Skydance. The discussions are in early stages and may not proceed due to the complexity of the deal and Paramount's dual-class share structure. Paramount and Skydance have a history of partnerships on successful projects. Warner Bros. Discovery Inc (NASDAQ:WBD) also showed interest in merging with Paramount, but those discussions have not progressed.

Portfolio Pulse from Erica Kollmann

January 10, 2024 | 10:08 pm

AGI

Alamos Gold Inc. (NYSE:AGI) reported record annual gold production of 529,300 ounces for 2023, a 15% increase from 2022, and provided a three-year production and operating guidance. The company expects production growth and declining costs over the next few years, with a 7% growth anticipated by 2026. The Phase 3+ Expansion at Island Gold is on track, and the company is advancing other growth initiatives, including the development plan for PDA and Lynn Lake. Alamos Gold ended 2023 with strong financial performance, generating record revenues of $1.0 billion and increasing its cash position to $225 million while remaining debt-free. The company has increased its 2024 production guidance and expects total cash costs and AISC to remain flat in 2024 and decrease by 2026. Capital spending is projected to decrease by 46% by 2026 at existing operations. Alamos Gold has also increased its exploration budget to the highest level in its history.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:04 pm

TTGT

Informa PLC is set to contribute Informa Tech's digital businesses and $350M cash for a 57% stake in a new entity, New TechTarget. The deal anticipates FY23 revenue of $230M and Adjusted EBITDA of $70M for TechTarget. New TechTarget is expected to generate $275M in revenue and $50M in Adjusted EBITDA in 2024. The plan includes double-digit organic revenue growth, 50% revenue under long-term contracts, and 35%+ Adjusted EBITDA margins within three years. The new entity aims for $1 billion annual revenue within five years and forecasts $45M in EBITDA synergies within three years. The headquarters will be in Newton, Massachusetts, with Gary Nugent as CEO. The transaction, approved by both boards, is expected to close in the second half of 2024, subject to shareholder and regulatory approvals. New TechTarget will trade on NASDAQ under the symbol TTGT.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

TTGT

TechTarget (NASDAQ:TTGT) and Informa PLC (LSE: INF.L) have announced a definitive agreement to combine Informa Tech's digital businesses with TechTarget, creating a new entity, New TechTarget. TechTarget shareholders will receive approximately $11.79 per share in cash and retain a 43% stake in the new company. Informa PLC will contribute its digital businesses and $350 million in cash for a 57% stake in New TechTarget. The combined company is expected to achieve double-digit organic revenue growth, 35%+ Adjusted EBITDA margins, and strong free cash flow within three years. The merger aims to create a leading global platform in B2B Data and Market Access, expanding TechTarget's addressable market and enhancing business resilience by entering new markets and buyer personas.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

ARKW

BITW

BTCUSD

GBTC

The SEC has approved applications for spot Bitcoin ETFs, a decision that is expected to significantly impact the cryptocurrency and traditional finance sectors. The approved ETFs include Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, Hashdex Bitcoin ETF, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Fund, and Franklin Bitcoin ETF. This approval follows a false tweet from a compromised SEC account, which caused a temporary drop in Bitcoin prices. Experts predict the decision will attract new investors, integrate Bitcoin with traditional finance, and boost the digital asset ecosystem. The ETFs are seen as a step towards legitimizing Bitcoin and may lead to more stability and growth in the long term.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 9:34 pm

ITGR

Integer Holdings Corporation (NYSE:ITGR) announced preliminary Q4 2023 sales of $411M-$413M, exceeding estimates of $404.69M, and FY23 revenue of $1.595B-$1.597B, surpassing the $1.59B estimate. Sales increased by 16% from 2022. Integer also acquired Pulse Technologies for $140M, expected to be accretive to sales growth and EBITDA margin. Pulse's FY23 sales are estimated at $42M with $11M adjusted EBITDA. The acquisition aligns with Integer's growth strategy in medical device manufacturing. A conference call is scheduled for February 15, 2024, to discuss Q4 and full year results.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:33 pm

PFE

Pfizer Inc. has advised its shareholders to reject the unsolicited mini-tender offer from TRC Capital Investment to purchase up to 4 million shares at $27.35 each, which is 4.4% below the closing price of $28.61 on December 27, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:31 pm

GBTC

Grayscale Investments has received SEC approval to uplist its Grayscale Bitcoin Trust (GBTC) to NYSE Arca, making it one of the first spot Bitcoin ETFs in the U.S. GBTC, which holds 3.16% of all Bitcoin in circulation, will commence trading on NYSE Arca on January 11, 2024, and will cease trading on OTC Markets. The Trust plans to issue additional shares and employ creations and redemptions to closely track the value of its underlying Bitcoin holdings.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:29 pm

PEAK

Healthpeak Properties has formed a joint venture with Breakthrough Properties by selling a 65% interest in the Callan Ridge lab campus. The deal values the property at $236 million, equating to $1,275 per square foot, and is based on a stabilized cash capitalization rate of 5.3% from an initial annual rental rate of about $67 per square foot.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:17 pm

SB

Safe Bulkers, Inc. has entered into an agreement to acquire a Japanese Kamsarmax class dry-bulk vessel, expanding its fleet and capabilities in the dry-bulk sector.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:06 pm