Streetbeat News

Acquisitions Mergers

GTLS

Chart Industries has sold its American Fan business to Fairbanks Morse Defense for $111M in an all-cash deal. The proceeds have been used to pay down debt. The business operates in Fairfield, Ohio, and all employees will be offered the opportunity to continue employment with FMD.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 10:27 am

RITM

Rithm Capital has amended its merger agreement to acquire Sculptor Capital Management at $12.70 per Sculptor Class A share, a 13.9% increase over Rithm's original bid. The transaction value is approximately $719.8 million.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 10:16 am

BP

TSLA

BP (NYSE:BP) is investing $100 million to purchase Tesla (NASDAQ:TSLA) Supercharger hardware for third-party charging network use. This is part of BP's EV charging business, BP Pulse, which plans to invest up to $1 billion by 2030 to build a nationwide charging network. The Supercharger hardware is compatible with the North American Charging Standard (NACS) plug from Tesla or a CCS Combo attachment supporting most other EVs. BP Pulse aims to install these new chargers at BP family brands and third-party locations like Hertz rental car sites starting next year.

Portfolio Pulse from Benzinga Neuro

October 27, 2023 | 8:05 am

TKR

Timken has announced the divestiture of its TWB Bearings business in China. The terms of the deal were not disclosed. In 2022, TWB posted revenue of approximately $40 million.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 9:15 pm

MCAA

FC Barcelona (FCB) and Mountain & Co. I Acquisition Corp. (MCAA) have amended their Business Combination Agreement to strengthen their partnership and focus on meeting near-term operational targets. The amendment reduces closing conditionality for MCAA's public shareholders and revises the financial requirements of the business combination to enhance structural flexibility. The minimum cash condition for Barça Media has been adjusted to €90 million at closing, which can be reduced by any cash received by FCB. The business combination agreement now provides for a termination right by FCB if funding of €40 million has not been received or committed by December 31, 2023.

Portfolio Pulse from Happy Mohamed

October 26, 2023 | 9:03 pm

UHG

United Homes Group (UHG) has acquired Rosewood Communities, a home builder operating in the rapidly growing markets of Greenville and Clemson in South Carolina. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 8:38 pm

CMCSA

DIS

Comcast has amended its agreements with The Walt Disney Company and its subsidiaries regarding its ownership interest in Hulu and the related put and call provisions. The put/call provisions may now be exercised in November 2023. Comcast borrowed $5.2 billion under a term loan facility in 2019, which is fully collateralized by the minimum guaranteed proceeds of the put/call option related to its investment in Hulu.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 7:13 pm

WSR

Traders are circulating unconfirmed rumors of a potential takeover of Whitestone REIT (WSR).

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:04 pm

BA

LUV

Southwest Airlines has placed an order for 108 additional Boeing 737 Max jets, according to Reuters. This move indicates a vote of confidence in Boeing's troubled aircraft, which has faced scrutiny and grounding in the past due to safety concerns.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 6:02 pm

F

GM

HYMTF

STLA

TSLA

WKSP

Ford Motor (F) shares rose 3% as it reached a tentative deal with the UAW, ending a costly strike. General Motors (GM) is expected to follow suit. Stellantis (STLA) plans to buy a 21% stake in Chinese EV maker Leapmotor. Worksport Ltd (WKSP) announced interest from a Canada-based automotive aftermarket reseller for its hard-folding tonneau covers. Hyundai Motor Company (HYMTF) confirmed it will not delay its EV plans and showed optimism for continued growth. Tesla (TSLA) received a $100 million order from BP EV unit for its chargers.

Portfolio Pulse from Upwallstreet

October 26, 2023 | 5:24 pm