Streetbeat News

Acquisitions Mergers

CAE

CAE Inc. has announced a definitive agreement to sell its Healthcare business to Madison Industries for an enterprise value of CAD$311 million. The sale is expected to close by the end of fiscal year 2024, subject to regulatory approvals. The proceeds will be used to accelerate deleveraging and support CAE's focus on technology advancement, market leadership, and cost optimization within its core training and simulation markets.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 1:59 pm

GE

General Electric Co (GE) reported Q3 FY23 revenues of $17.3 billion, a 20% YoY increase, and raised its FY23 outlook. The company also announced plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. GE's shares are trading higher by 5.72% premarket on Tuesday.

Portfolio Pulse from Akanksha Bakshi

October 24, 2023 | 12:50 pm

BLNK

Belgium-based electric vehicle charging company Blue Corner has announced that it is now operating as Blink Charging, following its acquisition in 2021. This move positions the company for further expansion in Europe.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:49 pm

MMTOF

NSANF

RNLSY

Mitsubishi Motors plans to invest up to €200 million in Renault's EV unit Ampere. This investment is part of Mitsubishi's mid-term management plan focusing on electric vehicle development. The company is also intensifying collaboration with Alliance members Renault and Nissan as part of their commitment to the electrification acceleration phase. Mitsubishi Motors aims to improve its EV development technology and expand its EV line-up through this initiative.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 12:43 pm

AJG

CADE

Arthur J. Gallagher & Co. has signed an agreement to acquire Cadence Insurance, Inc., a subsidiary of Cadence Bank, for $749 million. The deal will make Gallagher the preferred insurance broking partner of Cadence Bank. The acquisition cost is net of Gallagher's discounted tax benefit of approximately $155 million. Integration and management retention costs are expected to total $70 million over the next 3 years.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:11 pm

IBM

IBM has acquired Manta Software Inc., a data lineage platform, to complement its data and AI governance capabilities. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:08 pm

ACN

AMZN

FCFS

K

Insiders at Kellanova (K), Accenture (ACN), Amazon.com (AMZN), and FirstCash Holdings (FCFS) have recently sold shares. The reasons for these sales are not clear, but they could be due to preplanned sales or concerns about the companies' prospects. Kellanova's price target was recently lowered by Barclays, Accenture acquired cybersecurity services company MNEMO Mexico, Amazon.com has been breaking records with its 'Thursday Night Football' broadcasts, and FirstCash Holdings posted better-than-expected Q2 results.

Portfolio Pulse from Lisa Levin

October 24, 2023 | 12:01 pm

APRN

EXTO

Blue Apron Holdings, Inc. (APRN) and Almacenes Éxito S.A. (EXTO) are considered overbought stocks in the consumer staples sector, with RSI values of 76.88 and 72.67 respectively. Blue Apron is set to be acquired by Wonder Group for $13 per share, while Almacenes Éxito's stock has jumped more than 25% over the past month.

Portfolio Pulse from Lisa Levin

October 24, 2023 | 11:54 am

CTXR

TENK

Citius Pharmaceuticals has entered into a definitive agreement to merge its wholly owned subsidiary with TenX Keane Acquisition. The deal is valued at $10 per share.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:47 am

CTXR

TENKU

Citius Pharmaceuticals has agreed to merge its wholly owned subsidiary with TenX Keane Acquisition to form Citius Oncology, Inc. Upon closing, Citius Pharma will receive 67.5 million shares in Citius Oncology at $10 per share and retain majority ownership of approximately 90%. The transaction has been approved by the Board of Directors of both companies and is expected to close in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 11:35 am