Streetbeat News

Acquisitions Mergers

BRO

Brown & Brown has sold certain third-party administer businesses and entered into a long-term strategic relationship with Davies Group. The sold businesses represent approximately $100 million of annual revenue and the transaction will generate purchase proceeds ranging from $185 million to $205 million.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 9:33 pm

VSAC

Vision Sensing Acquisition Corp. (VSAC) has announced its intention to extend the period to consummate its initial business combination to December 3, 2023. The company also plans to deposit $60K into a trust account by November 3.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 9:03 pm

TYL

Tyler Technologies (NYSE:TYL) has acquired ResourceX, a provider of priority-based budgeting software for the public sector. The acquisition will add ResourceX's solutions to Tyler's portfolio, enhancing its offerings in the public sector budgeting space. ResourceX's applications use machine learning and AI to predict and identify multi-million-dollar opportunities, allowing clients to reallocate resources to meet desired outcomes. The company has over 60 clients across the U.S. and Canada.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:54 pm

AWK

Indiana American Water, a subsidiary of American Water (AWK), has acquired the Sunset Village water system in southeast Indiana for $150,000. The acquisition adds approximately 100 water customers to the company's customer base. The move is expected to provide future rate stability for Sunset Village customers and expand the company's presence across Indiana.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:52 pm

SEDA

SDCL EDGE Acquisition Corporation has announced that its shareholders have approved the extension of the deadline to complete a business combination to March 2, 2024. The company has also maintained 65.9% of the capital in its trust account, with 13,177,933 Class A Ordinary Shares remaining in float. The company has entered into a non-binding letter of intent with Magnet Joint Venture GmbH, KME SE, and The Paragon Fund III GmbH & Co. for a proposed business combination relating to Cunova GmbH and certain assets of KME comprising KME's Aerospace Business.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:50 pm

SLI

Standard Lithium Ltd. (NYSE:SLI) has exercised its option agreement with TETRA Technologies, Inc. for the South West Arkansas Project. This move builds on the positive insights from the recent Preliminary Feasibility Study and affirms the company's strategic direction. The company's total resource has grown over 100% within the last five years, with an improved average lithium concentration. The company anticipates completing a FEED and Definitive Feasibility Study for the project in 2024 and beginning construction in 2025. First commercial production is expected in 2027.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:48 pm

OLIT

OmniLit Acquisition Corp. (OLIT) shareholders have approved the merger with Syntec Optics, Inc. Over 99.9% of the votes cast at the Annual Meeting were in favor of the business combination. OLIT plans to file the results with the SEC on a Form 8-K.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:15 pm

CLF

X

An auto industry group has opposed Cleveland-Cliffs' bid to acquire U.S. Steel, according to a letter cited by Reuters. The group believes that the merger could lead to higher steel prices and reduced competition.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:52 pm

MSCI

Investment research firm MSCI Inc reported Q3 FY23 revenue growth of 11.6% YoY to $625.44 million, slightly below consensus estimates. Adjusted EPS of $3.45 beat the consensus of $3.32. The firm saw significant growth in its ESG and Climate segment, with revenues growing 26.8% YoY to $73 million. MSCI's recent acquisitions of Burgiss and Trove are expected to strengthen its portfolio solutions. Despite the strong results, MSCI shares traded lower by 2.00% at $472.35.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 6:51 pm

EWL

LMT

SPY

The Swiss government has signed a $331M contract for the purchase of new long-range missiles for the Patriot Ground-To-Air Defence System. The PAC-3 MSE guided missiles from the US manufacturer Lockheed Martin will be sent to Switzerland in 2028 and 2029. The new weapons are part of the Air2030 programme, which also includes the Radar and C2Air projects.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:42 pm