Streetbeat News

Acquisitions Mergers

SJM

TWNK

J. M. Smucker Co. (SJM) has extended its offer to acquire Hostess Brands, Inc. (TWNK) until noon on November 7, 2023. The offer includes $30.00 in cash and 0.03002 of SJM common shares for each outstanding share of TWNK.

Portfolio Pulse from Charles Gross

November 07, 2023 | 11:19 am

SEAT

Vivid Seats has announced the acquisition of Vegas.com in a cash and stock transaction valued at $240M. Vegas.com is a two-sided marketplace and a popular destination for live event enthusiasts visiting Las Vegas.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 11:17 am

SEAT

Vivid Seats, a ticket marketplace, is set to acquire Vegas.com, an online travel agency for approximately $240 million, according to Wall Street Journal citing company executives.

Portfolio Pulse from Charles Gross

November 07, 2023 | 10:16 am

BIDU

NVDA

Baidu Inc. (NASDAQ:BIDU) has reportedly switched from Nvidia Corporation (NASDAQ:NVDA) to Huawei for the supply of AI chips. The move is seen as a response to increasing U.S. restrictions on tech exports to China. The order, placed in August, included 1,600 Huawei Ascend 910B AI chips, worth around 450 million yuan ($61.83 million). This shift indicates Chinese tech firms adjusting to geopolitical pressures.

Portfolio Pulse from Benzinga Neuro

November 07, 2023 | 9:01 am

FLT

FLEETCOR Technologies has acquired PayByPhone, a move that expands its vehicle payments capabilities for businesses and consumers. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 7:25 am

FLT

FLEETCOR Technologies, Inc. (NYSE:FLT) has acquired PayByPhone, a global provider of digital parking payment solutions. The acquisition will expand FLEETCOR's vehicle payment solutions for its fleet customers and consumers. PayByPhone, which has over 6 million monthly active users, was acquired from Volkswagen Financial Services.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 7:23 am

GBTC

SQ

Ark Invest, led by Cathie Wood, has purchased $5.6 million worth of shares in Block Inc (NYSE:SQ) and sold $3.76 million worth of Grayscale Bitcoin Trust ETF (OTC:GBTC) shares. The move aligns with Wood's investment philosophy of focusing on innovative companies poised for growth.

Portfolio Pulse from Benzinga Neuro

November 07, 2023 | 3:42 am

TSX:ATD

TTE

Alimentation Couche-Tard has received approval from the European Commission for the acquisition of certain European retail assets from TotalEnergies. The completion of the acquisition is expected in December 2023.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:46 pm

GOOD

Gladstone Commercial has announced the acquisition of a 67,709 sq ft industrial facility in Indianapolis, IN. The acquisition was made at a weighted GAAP capitalization rate of 10.1% and was part of a long-term sale leaseback transaction with a 20-year absolute NNN lease.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:31 pm

MMS

Maximus (NYSE:MMS) has completed the divestiture of its employment services operations in Italy, Singapore, and Canada to Angus Knight. The combined annual revenue run-rate for the three entities under Maximus was approximately $30 million. Over 250 employees are joining Angus Knight to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:06 pm