Streetbeat News

Acquisitions Mergers

BX

The Riverside Company has signed an agreement to sell Energy Exemplar, a leading simulation software provider for the global power market, to private equity funds affiliated with Blackstone (NYSE:BX) and Vista Equity Partners. Financial details were not disclosed. Energy Exemplar has grown at 30% CAGR since 2018 and currently serves over 500 utilities and power companies in more than 79 countries.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:07 pm

BLRX

BioLineRx Ltd. (BLRX) has entered into an exclusive license agreement with Guangzhou Gloria Biosciences Co., Ltd. (GloriaBio) for the development of motixafortide across all indications in Asia. The agreement includes a $15 million upfront payment, an equity investment of $14.6 million, up to $50 million in potential development and regulatory milestones, and up to $200 million in potential commercial milestones. The deal was facilitated by M.S.Q. Ventures.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:05 pm

VOD

Vodafone Group Plc (NASDAQ:VOD) has agreed to sell 100% of Vodafone Spain to Zegona Communications plc. The deal, expected to complete in the first half of 2024, will comprise at least €4.1 billion in cash and up to €0.9 billion in Redeemable Preference Shares. Vodafone will provide a brand license agreement allowing Zegona to use the Vodafone brand in Spain for up to 10 years post-completion. The deal is expected to have a slightly accretive effect on Vodafone's adjusted earnings per share and a dilutive effect on free cash flow.

Portfolio Pulse from Shivani Kumaresan

October 31, 2023 | 1:02 pm

BEAM

LLY

VERV

Beam Therapeutics Inc (NASDAQ:BEAM) shares are trading higher after Eli Lilly And Co (NYSE:LLY) agreed to acquire certain rights under Beam's agreement with Verve Therapeutics Inc (NASDAQ:VERV). Beam will receive a $200 million upfront payment, a $50 million equity investment, and is eligible for another $350 million in development-stage payments based on certain milestones.

Portfolio Pulse from Adam Eckert

October 31, 2023 | 12:53 pm

BEAM

LLY

Eli Lilly has agreed to acquire certain rights under Beam Therapeutics' agreement with Verve Therapeutics. This has led to an increase in Beam Therapeutics' share prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 12:52 pm

OLK

TMO

Thermo Fisher Scientific Inc. (TMO) has commenced a tender offer to acquire all outstanding common shares and American Depositary Shares (ADSs) of Olink Holding AB (OLK) for $26.00 per share and per ADS, in cash. The offer will expire on November 30, 2023, unless extended or terminated earlier. Olink's board of directors has recommended that shareholders accept the offer. Summa Equity AB, Olink's largest shareholder, and additional shareholders and management, holding approximately 66% of Olink's shares, have agreed to tender into the offer.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 12:46 pm

GPK

Graphic Packaging Holding Co (GPK) reported a Q3 FY23 revenue decrease of 4% Y/Y to $2.349 billion, missing the consensus of $2.469 billion. The company also cut its FY23 sales outlook due to inventory normalization and fluctuations in consumer purchasing behavior. Despite this, GPK's adjusted EBITDA rose 9% Y/Y to $482 million and adjusted EPS increased 10% Y/Y to $0.74, beating the consensus of $0.71. The company returned $39 million to stockholders in Q3 and closed the acquisition of Bell Incorporated.

Portfolio Pulse from Lekha Gupta

October 31, 2023 | 12:41 pm

GEF

Greif, Inc. (NYSE:GEF) plans to acquire IPACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million. The acquisition is expected to close by the end of the second quarter of Greif's 2024 fiscal year, subject to regulatory clearances. IPACKCHEM generated sales of approximately $235 million and adjusted EBITDA of approximately $57 million for the last twelve months ended September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 12:31 pm

PXMD

PaxMedica, Inc. (NASDAQ:PXMD) has acquired suramin research assets from Rediscovery Life Sciences (RLS). The assets will be used to support the submission for the approval of PAX-101, a treatment for African Sleeping Sickness. The acquisition follows PaxMedica's recent Type B meeting with the FDA and is expected to expedite the NDA submission process for PAX-101.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 12:10 pm

PANW

Palo Alto Networks has announced its intention to acquire cloud security start-up Dig Security. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 12:09 pm