Streetbeat News

Acquisitions Mergers

CLF

Cleveland-Cliffs has announced the pricing and upsizing of $900M of Senior Guaranteed Notes due 2029 and $900M due 2033. The proceeds will be used to finance the acquisition of Stelco Holdings Inc., expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:47 pm

KZR

Tang Capital Management has submitted a non-binding acquisition proposal to Kezar's board, offering $1.10 per share plus an 80% contingent value right on future asset sales. The proposal is subject to due diligence and potential negotiation.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:24 pm

PFGC

Performance Food Group has completed its acquisition of Cheney Bros, and its fiscal year 2025 outlook now includes expected business results from Cheney Brothers starting October 8.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:23 pm

INSI

KIO

KKR Income Opportunities Fund (KIO) will acquire the assets of Insight Select Income Fund (INSI). INSI shareholders will receive KIO shares and may opt for up to 5% in cash. Post-transaction, INSI will be delisted, while KIO continues trading on NYSE.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:22 pm

CRNX

Crinetics Pharmaceuticals has announced a proposed public offering of $400 million in common stock, with an option for underwriters to purchase an additional $60 million. The proceeds will be used for R&D, pre-commercialization activities, and potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:02 pm

DXPE

DXP Enterprises has refinanced its Senior Secured Term Loan B, raising an additional $105 million, bringing total borrowings to $649.5 million. The company reduced its borrowing margin by 100 basis points and plans to use the proceeds for debt repayment, acquisitions, and general corporate purposes, maintaining flexibility for growth and reinvestment.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 6:26 pm

CVX

Chevron is in discussions to sell its Texas gas assets to Tokyo Gas for up to $1 billion. This potential sale is part of Chevron's strategy to streamline its portfolio and focus on core operations.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:41 pm

MSOS

Pablo Zuanic from Zuanic & Associates discusses changes in M&A strategies from a buyer's perspective, highlighting the impact of potential rescheduling. He notes limited opportunities for MSOS, which is actively engaging in conferences in Germany.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:20 pm

MSOS

Laura Bianchi, Co-Founder of Bianchi & Brandt, discusses the potential impact of rescheduling on mergers and acquisitions (M&A) in the cannabis industry. She anticipates more creative collaborations and joint ventures, as well as increased interest from banks and credit unions in servicing the industry.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:02 pm

MSOS

Benzinga's Cannabis Capital Conference is discussing consolidation trends in the cannabis industry following cannabis rescheduling. The focus is on identifying potential winners and losers in the market.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 4:54 pm