Streetbeat News

Acquisitions Mergers

EQBK

Bank of Kirksville has agreed to merge into Equity Bank, which will result in the addition of eight new locations to Equity Bank's network. This expansion is expected to strengthen Equity Bank's presence and market share.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:35 am

EU

enCore Energy has secured a $70M deal with Boss Energy to expedite its uranium production plans across South Texas and for the development of projects in Wyoming and on the Wyoming-South Dakota border. The deal is expected to close in February 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:10 am

DWAC

Digital World Acquisition Corp. (DWAC) has extended the deadline to complete its initial business combination from December 8, 2023, to March 8, 2024, as announced by its Board of Directors on Tuesday.

Portfolio Pulse from Charles Gross

December 06, 2023 | 11:08 am

RCFA

Blue Gold has entered into a business combination agreement with RCF Acquisition Corp. (RCFA), which is expected to result in Blue Gold becoming a publicly traded company on the New York Stock Exchange. The transaction is aimed at facilitating Blue Gold's strategy to acquire and invest in top-tier gold assets within Ghana's Ashanti gold belt. The merger is anticipated to be completed in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:07 am

YUM

Yum! Brands' KFC division has entered into a definitive agreement to acquire over 200 KFC restaurants from franchisee EG Group. The terms of the deal were not disclosed. The transaction is expected to be completed by the end of the first half of 2024 and will be funded from Yum!'s cash flows. It is anticipated to have an immaterial impact on Yum!'s financial results for 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:03 am

RCM

R1 RCM, a healthcare revenue cycle management company, has agreed to acquire Acclara Solutions, a patient revenue cycle management firm, for $675 million in cash along with warrants to purchase 12.2 million shares of R1 RCM stock.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:02 am

AAPL

NIO

PCRFF

TSLA

NIO Inc. (NYSE:NIO) is planning to spin off its battery manufacturing division to attract external investors and improve profitability. The division, with expertise from former Apple Inc. (NASDAQ:AAPL) and Panasonic Holdings Corporation (OTC:PCRFF) engineers, aims to complete the spin-off by year-end. The new facility is expected to produce batteries for approximately 400,000 EVs annually. Despite a 40% decline over the past year, NIO's stock rose after Q3 delivery numbers exceeded expectations and the company announced the acquisition of manufacturing assets from Anhui Jianghuai Automobile Group Corp.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 10:50 am

XPO

XPO Inc (NYSE:XPO) won an auction to acquire 28 service centers from the bankrupt Yellow Corporation for approximately $870 million. The deal, which includes the assumption of three asset leases, aligns with XPO's LTL 2.0 growth plan and is expected to be accretive to adjusted EBITDA and dilutive to adjusted EPS in 2024, turning accretive to adjusted diluted EPS from 2025. As of Q3, XPO had $335 million in cash and equivalents. Despite a soft freight market, XPO's November operating metrics showed a slight decrease in LTL tonnage per day, but a rise in shipments per day and yield ex-fuel growth ahead of expectations.

Portfolio Pulse from Lekha Gupta

December 06, 2023 | 10:37 am

FEAM

5E Advanced Materials, Inc. (FEAM) has entered into a Restructuring Support Agreement (RSA) with its primary lender, BEP Special Situations IV, LLC, and new strategic investors to restructure its capital and secure new funding. This Transaction will allow the commencement of initial mining operations and the production of boric acid and lithium.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:01 am

CLIN

Shares of Clean Earth Acquisition Corp. (CLIN) surged following the approval by shareholders of a business combination with Alternus Energy Group. This move is expected to enhance Clean Earth's market position by integrating Alternus Energy's expertise in the renewable energy sector.

Portfolio Pulse from Charles Gross

December 06, 2023 | 9:56 am