Streetbeat News

Acquisitions Mergers

FUN

SIX

Cedar Fair and Six Flags have announced a merger, with the combined company to operate under the name Six Flags and trade under the ticker symbol 'FUN' on the NYSE.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:19 am

FUN

SIX

Cedar Fair CEO Richard Zimmerman will serve as President and CEO of the combined company after the merger with Six Flags. Selim Bassoul, President and CEO of Six Flags, will serve as Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:18 am

PYPL

UPS

PayPal has entered into a definitive agreement to sell Happy Returns to UPS for approximately $465 million in cash. The deal is expected to close in September 2023.

Portfolio Pulse from Charles Gross

November 02, 2023 | 10:17 am

FUN

SIX

Cedar Fair and Six Flags have announced a merger of equals, creating a combined company with a pro forma enterprise value of $8B. Cedar Fair unitholders will receive one share of common stock in the new company for each unit owned, while Six Flags shareholders will receive 0.5800 shares for each share owned.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:15 am

PRMW

Primo Water Corporation has entered into an agreement to sell a significant portion of its international businesses for up to $575 million in cash. The deal is expected to provide the company with additional liquidity and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 10:07 am

ITT

ITT Inc has agreed to acquire Svanehøj Group A/S for about $395 million. Svanehøj provides liquid and cryogenic pumps for liquefied gas applications and generated ~$140 million in sales in 2022. The transaction is expected to close in the first quarter of 2024, subject to regulatory approvals. ITT held $463 million in cash and equivalents as of July 1, 2023.

Portfolio Pulse from Shivani Kumaresan

November 02, 2023 | 9:53 am

FUN

SEAS

SIX

Six Flags Entertainment Corp (NYSE:SIX) and Cedar Fair (NYSE:FUN) are reportedly close to finalizing a merger that could reshape the regional amusement park industry in the U.S. The merger comes as Cedar Fair, owner of attractions like Ohio's Cedar Point, is set to disclose its earnings. The deal would combine Six Flags' 27 parks in North America with Cedar Fair's properties and hospitality ventures. The merger talks are happening amid activism from investor Jonathan Litt, who has urged Six Flags to monetize its real estate assets.

Portfolio Pulse from Shivani Kumaresan

November 02, 2023 | 9:36 am

STGW

Stagwell has announced the acquisition of Movers+Shakers, a move aimed at driving brand awareness and equity with Gen Z and Millennials. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:15 am

F

Ford Motor Company (NYSE:F) is acquiring energy startup Auto Motive Power (AMP) to enhance its electric vehicle (EV) charging capabilities. The deal will result in the dissolution of AMP, with Ford integrating its technology, talent, and facilities into its own EV operations. AMP, which raised $26.5 million since its 2017 launch, extended its operations to power management for autonomous rideshare vehicles, drones, and hyperloop-style transport.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 7:51 am

ITT

ITT Inc. has acquired Danish company Svanehøj for $395 million. Svanehøj, a supplier of pumps and related aftermarket services for the marine sector, will become part of ITT's Industrial Process segment. Svanehøj's products, which manage critical liquids for the energy transition, are widely regarded as the highest quality offering across most verticals.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:56 am