Streetbeat News

Acquisitions Mergers

DOOR

PGTI

PGT Innovations' stock is trading higher following the announcement that Masonite has agreed to acquire the company for $41 per share.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:42 pm

DOOR

Masonite International Corporation's stock is trading lower following the announcement of its acquisition of PGT Innovations.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:41 pm

AYX

Alteryx, Inc. (NYSE:AYX) is set to go private in a $4.4 billion acquisition by Clearlake Capital Group, L.P., and Insight Partners, including debt. Shareholders will receive $48.25 per share, a 59% premium over the stock price before sale speculation. The deal, supported by Alteryx's Board and an independent committee, is expected to close in the first half of 2024, pending shareholder and regulatory approval. Dean Stoecker, with 49% voting power, backs the transaction. AYX shares dropped 2.08% to $47.04.

Portfolio Pulse from Akanksha Bakshi

December 18, 2023 | 3:13 pm

BALL

Ball Aerospace has been selected by NASA to conduct a Phase A study for the ECCCO mission, aimed at understanding the sun's coronal structure. The mission will use advanced imaging and spectroscopy to observe the middle corona, a largely unexplored region. Ball Aerospace will design and build the spacecraft, while the Smithsonian Astrophysical Observatory (SAO) will design the imager and spectrometers and lead science planning. Ball Aerospace is also conducting a study for the CMEx mission under NASA's SMEX program.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:02 pm

MSI

Motorola Solutions (NYSE:MSI) has acquired IPVideo, the creator of the HALO Smart Sensor, a multifunctional safety and security device. The HALO Smart Sensor is designed for areas where traditional video security is not suitable and can detect various health and safety threats. The terms of the transaction were not disclosed. This acquisition aligns with Motorola Solutions' strategy to enhance its physical security offerings and extend its safety and security ecosystem.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:02 pm

CLF

Cleveland-Cliffs, Inc. (NYSE:CLF) stock is trading higher after the company commented on the proposed acquisition of U.S. Steel by Nippon Steel. CEO Lourenco Goncalves highlighted U.S. Steel's undervaluation and synergy potential with Cleveland-Cliffs, expressing that the sector is undervalued and a re-rating for Cleveland-Cliffs is overdue. The company has reached its net debt target and plans to prioritize aggressive share buybacks. CLF shares have risen 19% over the past month and are up 8.8% at $20.34.

Portfolio Pulse from Erica Kollmann

December 18, 2023 | 2:57 pm

CPNG

FTCH

Coupang Inc (NYSE:CPNG) announced its intention to acquire Farfetch Ltd (NYSE:FTCH), an online luxury company. The acquisition aims to make Coupang a dominant player in the $400 billion global personal luxury goods market by combining Coupang's operational efficiency with Farfetch's luxury expertise. Farfetch will gain access to $500 million in capital to enhance its technology and expand its reach. Coupang's stock remains flat at $16.87 following the news.

Portfolio Pulse from Henry Khederian

December 18, 2023 | 2:51 pm

ILMN

Carl Icahn has issued an open letter to Illumina, Inc. shareholders, outlining his campaign's goals and achievements, including the removal of the former Chairman and CEO, and pushing for the divestiture of GRAIL. He criticizes the legacy directors for their decision-making and the significant decline in Illumina's share price. Icahn expresses concern over the directors' conflicts of interest and their handling of the GRAIL acquisition, which faced legal challenges and led to substantial financial losses. He urges the removal of these directors to restore Illumina's former success and has filed a lawsuit for disclosure of key information before the upcoming annual meeting.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:47 pm

X

The United Steelworkers Union has stated that neither U.S. Steel nor Nippon has contacted the union concerning their deal, according to Reuters. This could raise concerns about labor relations and the impact of the deal on union members.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:42 pm

M

WWD reported on December 15th that Sycamore Partners is considering a potential bid for Macy's, according to sources.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:37 pm