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Acquisitions Mergers

EGLE

SBLK

Eagle Bulk Shipping Inc. shareholders are set to receive 2.6211 shares of Star Bulk Carriers Corp. common stock for each share of Eagle they own. The deal values Eagle shares at $52.60 each, a 17% premium over the closing price on December 8, 2023. Post-transaction, Star Bulk and Eagle shareholders will own about 71% and 29% of the merged entity, respectively.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:36 pm

WTS

Watts Water Technologies, Inc. (NYSE:WTS) has announced the acquisition of Josam Company, a manufacturer of drainage and plumbing products with annualized sales of approximately $35 million. The financial terms of the transaction were not disclosed. The acquisition aligns with Watts' growth strategy, offering expanded capabilities and solutions to customers, and is expected to provide increased cross-selling opportunities and growth. The transaction is subject to customary closing conditions and is expected to close in January 2024, with further details to be discussed in Watts' fourth quarter earnings call in February 2024.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:34 pm

DECA

Denali Capital Acquisition Corp. (DECA) has deposited $50,000 into its trust account to extend the deadline for completing a business combination from December 11, 2023, to January 11, 2024. This extension is in line with the company's amended and restated memorandum and articles of association.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:34 pm

EGLE

SBLK

Star Bulk Carriers Corp. and Eagle Bulk Shipping Inc. have announced a merger, with the combined entity to operate under the name Star Bulk Carriers Corp. and be headquartered in Athens, Greece. This strategic move will consolidate their operations and is likely aimed at capitalizing on synergies between the two companies.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:34 pm

WTS

Watts Water Technologies, Inc. (NYSE:WTS) has announced the acquisition of Josam Company, a manufacturer of drainage and plumbing products with annualized sales of approximately $35 million. The financial terms of the transaction were not disclosed. The acquisition aligns with Watts' growth strategy, offering expanded capabilities and solutions to customers, and is expected to provide increased cross-selling opportunities and growth. The transaction is subject to customary closing conditions and is expected to close in January 2024, with further details to be discussed in Watts' fourth quarter earnings call in February 2024.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:34 pm

HIHO

Highway Holdings (HIHO) shares are up following the announcement of a non-binding letter of intent to acquire a majority stake in Synova Metall- und Kunststofftechnik GmbH.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:33 pm

IBP

Installed Building Products (IBP) has acquired Combee Insulation of Florida, LLC, with the acquisition anticipated to contribute $16.5 million in annual revenue to IBP's financials.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:33 pm

EGLE

SBLK

Star Bulk Carriers Corp. and Eagle Bulk Shipping Inc. have announced a merger agreement. Under the terms, Eagle Bulk Shipping shareholders will receive 2.6211 shares of Star Bulk common stock for each share they hold. This strategic move will combine two major players in the bulk shipping industry.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:32 pm

IRRX

Integrated Rail and Resources Acquisition Corp. (IRRX) has extended the deadline to complete a business combination from December 15, 2023, to January 15, 2024. This extension is in accordance with the Trust Agreement with American Stock Transfer & Trust Company, LLC, and was initiated by the Company's sponsor, DHIP Natural Resources Investments, LLC.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:26 pm

AMRC

Ameresco, Inc. has been awarded contracts to develop two clean energy facilities by Hawaiian Electric Company. This move aligns with the increasing demand for renewable energy solutions and may positively impact Ameresco's revenue and growth prospects in the renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:23 pm