Streetbeat News

Acquisitions Mergers

BNBUSD

BTCUSD

ETHUSD

SPY

Binance CEO Changpeng Zhao is reportedly in talks to step down amid a potential $4 billion settlement with the U.S. Department of Justice (DOJ) and Commodities Futures Trading Commission (CFTC) to conclude a criminal investigation. The Securities and Exchange Commission (SEC) is not involved in the settlement. No comments from Binance, DOJ, CFTC, or SEC were available at the time of publication.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:56 pm

BX

Blackstone Group Inc. is reportedly in advanced discussions to acquire Civica, a U.K.-based software developer, for approximately $2.5 billion, including debt. The deal could be announced imminently, possibly as early as Wednesday. This acquisition would follow Blackstone's recent investments in the U.K., including the purchase of two hotels and an affordable housing project.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:54 pm

BX

EBAY

eBay Inc. (NASDAQ:EBAY) has expressed support for a voluntary tender offer by Permira and Blackstone to acquire Adevinta, with eBay set to receive $2.2 billion in cash and retain a 20% stake in Adevinta. The transaction values eBay's total stake at approximately $4.3 billion, a significant premium over the pre-speculation value. eBay plans to use the cash for general corporate purposes and continue its commitment to return 125% of free cash flow to shareholders. The deal is expected to close in Q2 2024, subject to regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:50 pm

BX

EBAY

Permira and Blackstone have announced a voluntary offer to acquire all outstanding Class A shares of Adevinta at NOK 115 per share, valuing the company at approximately NOK 141 billion. The acquisition is relevant to Blackstone (BX) and potentially to eBay (EBAY) if they have a stake in Adevinta.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:42 pm

CRH

CRH shares are up following a positive Q3 earnings update and the announcement of a $2.1 billion acquisition of materials assets in Texas.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:36 pm

BK

BNY Mellon Corp (NYSE:BK) and Lunate are investing in a new company, Alpheya, to create a wealth management technology platform for the Middle East and North Africa. Alpheya will be based in ADGM with a $300 million capital commitment and is set to start in 2024. BNY Mellon holds a minority share in Alpheya. The company aims to meet the increasing demand for digital wealth management services in the region. BNY Mellon recently reported a Q3 FY23 revenue increase of 2% Y/Y to $4.37 billion, surpassing estimates, with an adjusted EPS of $1.27. BK shares saw a slight increase of 0.21% to $47.22.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 4:27 pm

BX

EBAY

Private equity firms Permira and Blackstone (BX) are reportedly close to finalizing a deal to acquire Adevinta at a price of NOK 115 per share, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:18 pm

J

Jacobs Solutions Inc (NYSE:J) shares fell approximately 4% after reporting Q4 FY23 results. Revenue increased 10.5% Y/Y to $4.29 billion, surpassing estimates. Adjusted EPS was $1.90, beating consensus by $0.01. However, the FY24 EPS outlook of $7.70-$8.20 is below the consensus of $8.40. The company also announced a spin-off and merger of its CMS and Cyber & Intelligence units with Amentum. The stock was down 6.75% at $127.74.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 3:44 pm

AVGO

VMW

VMware's stock is trading lower following the announcement that all necessary regulatory approvals for its merger with Broadcom have been obtained, indicating the deal is set to close.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:17 pm

EMXC

INVH

SBRA

TW

On CNBC's 'Halftime Report Final Trades,' analysts provided their insights on several stocks. Josh Brown of Ritholtz Wealth Management recommended staying long on Invitation Homes Inc. (INVH), citing better-than-expected sales and updated FY23 core FFO per share guidance. Jenny Harrington of Gilman Hill Asset Management highlighted Sabra Health Care REIT, Inc. (SBRA) for its 8.5% dividend yield after reporting strong sales. Liz Young of BNY Mellon Investment Management chose iShares MSCI Emerging Markets ex China ETF (EMXC) as her final trade. Joseph Terranova of Virtus Investment Partners selected Tradeweb Markets Inc. (TW), which recently announced an acquisition of r8fin. INVH shares slightly fell, SBRA shares rose, TW closed at $93.42, and EMXC ETF rose 0.9% in Monday's session.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 3:05 pm