Streetbeat News

Acquisitions Mergers

AIRE

reAlpha Tech has signed a Letter of Intent to acquire United Software Group, a private IT consulting firm based in Ohio. The acquisition, expected to close in Q1 2024, will be paid for with a combination of common stock and cash, including performance-based earn-out payments. The deal will add over 2,000 workers to reAlpha's workforce.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:48 pm

SGML

Sigma Lithium Corporation (NASDAQ:SGML) is advancing its Strategic Review Process, with the Board of Directors encouraged by ongoing negotiations with potential strategic partners. The company plans to list Sigma Brazil on both Nasdaq and the Singapore Stock Exchange to facilitate a strategic transaction and maximize shareholder value. CEO Ana Cabral expressed delight at the interest from global leaders in the battery materials and electric vehicle industries. The company aims to leverage its position as a low-cost, Net Zero lithium producer to expand its global presence and capitalize on its competitive advantage.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:45 pm

KKR

KKR & Co Inc (NYSE:KKR) has acquired a $7.2 billion super-prime RV loan portfolio from BMO Bank National Association, a part of BMO Financial Group. BMO will continue to service the loans and manage RV loan origination. BMO also purchased $6.4 billion in senior notes backed by the loans. The acquisition aligns with KKR's Asset-Based Finance strategy and adds diversification to its credit portfolio. KKR has $47 billion in ABF assets and a team of over 50 professionals. The investment was made through KKR's credit funds and accounts, with Kennedy Lewis Investment Management LLC also participating. KKR's AUM increased by 6% Y/Y to $528 billion in Q3, with $14 billion in new capital raised.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 12:44 pm

FSV

FirstService Corporation (NASDAQ:FSV) has acquired Roofing Corp of America for $413M, expanding its property services portfolio. Roofing Corp, with $400M in annual revenues and higher margins than FirstService's average, operates across 11 states with over 900 employees. The deal is funded by cash and credit facility, which has a $1.25B capacity after a recent expansion.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:34 pm

BRSH

Arrive Technology, the pending merger partner of Bruush Oral Care, has acquired AirBox Technologies to enhance its high-tech mailbox system for autonomous and conventional package delivery. This acquisition aims to broaden the capabilities of Arrive Technology's system, potentially impacting the logistics and delivery sectors.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:12 pm

BWV

Blue Water Biotech has acquired Proteomedix AG, a private diagnostics oncology company, through an all-stock transaction. The deal grants Proteomedix shareholders a 19.9% stake in the new entity, now named Onconetix, Inc. Additionally, two Proteomedix executives will join the leadership team of Onconetix.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:08 pm

DOOR

PGTI

Masonite International Corporation has agreed to acquire PGT Innovations, Inc. for $41 per share, in a deal valued at $3 billion. The payment will be a mix of $33.50 in cash and $7.50 in Masonite shares for each PGT share.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:05 pm

CARR

Carrier has received the final regulatory clearance from the European Commission to complete its acquisition of Viessmann Climate Solutions. The transaction is set to close on January 2, 2024, subject to conditions to be met on the closing date.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:48 am

LLY

Eli Lilly has extended its tender offer to acquire POINT Biopharma until December 22, 2023. The extension is to satisfy the minimum tender condition, with the previous deadline set for December 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:47 am

X

Shares of United States Steel Corp (NYSE: X) surged approximately 28% after the announcement of its acquisition by Nippon Steel Corp (OTC: NISTF) for $14.1 billion plus debt, totaling an enterprise value of $14.9 billion. The offer price of $55 per share is a 40% premium over U. S. Steel's closing price on December 15, 2023. The deal, approved by both companies' boards, is expected to close in the second or third quarter of 2024, subject to shareholder and regulatory approvals. U. S. Steel recently provided Q4 guidance with adjusted EPS of $0.20-$0.25 and adjusted EBITDA of approximately $250 million.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 11:43 am