Streetbeat News

Acquisitions Mergers

KMI

NEP

Kinder Morgan (KMI) is set to acquire South Texas assets, STX Midstream, from NextEra Energy Partners for $1.815 billion. KMI expects the investment to be accretive to its shareholders, with the purchase price representing a 2024 EBITDA multiple of 8.6 times and a long-term investment-to-EBITDA multiple of approximately 7.0-7.5 times.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:45 pm

SYT

SYLA Technologies (NASDAQ:SYT) has announced a definitive agreement for a business transfer from ietty Inc., a Japanese real estate portal website management and rental brokerage business. The transfer, effective from November 1, 2023, will allow SYLA to integrate ietty's AI and chatbot technologies into its real estate services. This move is expected to enhance SYLA's real estate services, boost occupancy rates of its condominiums, and create new profit-earning opportunities.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:36 pm

BWMN

Bowman Consulting Group has adjusted its FY 2023 outlook for Net Service Billing to be in the range of $306 to $312 million and Adjusted EBITDA in the range of $48 to $52 million. The company also introduced its FY 2024 outlook for Net Service Billing to be in the range of $345 to $360 million and Adjusted EBITDA in the range of $56 to $62 million. These projections are based on completed acquisitions and do not include contributions from any future acquisitions.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:32 pm

CPG

HHRS

Hammerhead Energy has agreed to be acquired by Crescent Point Energy for a total consideration of C$21.00 per share. Each Hammerhead share will be exchanged for C$15.50 in cash and C$5.50 in Crescent Point common shares.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:24 pm

CWCO

Consolidated Water Co. Ltd. (CWCO) has acquired Ramey Environmental Compliance (REC) for $4.2 million in cash. The acquisition will allow CWCO to expand its presence in water-stressed regions across Colorado. REC, which operates and maintains water and wastewater treatment facilities, currently services over 100 customers. The acquisition is expected to provide a new channel for CWCO's subsidiary, PERC Water Corporation, to expand its footprint.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:23 pm

ABCM

DHR

Shareholders of Abcam have approved the proposed acquisition of the company by Danaher. This move is expected to strengthen Danaher's position in the life sciences industry.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:01 pm

BBAI

BigBear.ai, Inc. (NYSE:BBAI) announced its plan to acquire Vision AI leader, Pangiam Intermediate Holdings, LLC for approximately $70 million in an all-cash transaction. The deal is expected to close in Q1 2024. Pangiam's facial recognition and advanced biometrics are expected to complement BigBear.ai's computer vision proficiencies. The news comes ahead of BigBear.ai's Q3 earnings report, scheduled for Nov. 7.

Portfolio Pulse from Ryan Gustafson

November 06, 2023 | 8:25 pm

BVH

CREV

DBGI

DISH

KOS

MLTX

SATS

US stocks turned lower with the Dow Jones falling around 50 points. Kosmos Energy Ltd reported better-than-expected earnings for Q3 2023. Carbon Revolution Public Limited shares shot up 204% after a merger with Twin Ridge Capital Acquisition Corp. Bluegreen Vacations Holding Corporation shares rose 106% after the announcement of its acquisition by Hilton Grand Vacations. Digital Brands Group, Inc. shares were up 22% after the company announced a review of strategic alternatives. MoonLake Immunotherapeutics shares dropped 24% after the announcement of its phase 2 study results. DISH Network Corporation shares were down 22% after Q3 results and the CEO's resignation. EchoStar Corporation shares fell 21% after worse-than-expected Q3 sales.

Portfolio Pulse from Lisa Levin

November 06, 2023 | 7:28 pm

PNT

BVF Partners L.P. has reported a 16.5% stake in Point Biopharma Global as of November 2. The stake was purchased based on the belief that the shares were undervalued at the time of purchase, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 6:54 pm

BVH

CREV

DISH

VERB

Several stocks experienced significant movement in Monday's mid-day trading session. Notably, Bluegreen Vacations Holding Corporation (NYSE:BVH) saw a 105.8% increase to $73.11 after announcing its acquisition by Hilton Grand Vacations at $75 per share. Carbon Revolution Public Limited (NASDAQ:CREV) shares jumped 396.2% to $145.49 following a merger with Twin Ridge Capital Acquisition Corp. Verb Technology Company, Inc. (NASDAQ:VERB) shares climbed 59.5% to $0.4086 amid the company announcing new technology integrations for its MARKET.live platform. On the downside, DISH Network Corporation (NASDAQ:DISH) fell 19% to $4.4496 after the company reported third-quarter results and the CEO announced his resignation.

Portfolio Pulse from Lisa Levin

November 06, 2023 | 6:36 pm