Streetbeat News

Acquisitions Mergers

ESMT

Engagesmart Inc (NYSE:ESMT) shares are trading higher by over 10% after the company announced a deal to be acquired by Vista Equity Partners for around $4.0 billion or $23 per share in an all-cash transaction. The purchase price represents a premium of about 23% to the unaffected closing price of ESMT's shares on October 4, 2023. The transaction is expected to be completed in Q1 2024.

Portfolio Pulse from Lekha Gupta

October 23, 2023 | 2:25 pm

INVO

INVO BioScience has announced its plans to acquire NAYA Biosciences in an all-stock transaction. This has led to a rise in INVO BioScience's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 2:13 pm

OLIT

Syntec Optics, a provider of scientific and technical instruments and aerospace and defense optics, is set to list on Nasdaq via a merger with OmniLit. The company has been a pioneer in the manufacturing of scalable ultra-high precision optics for Low Earth Orbit (LEO) satellite systems. Syntec Optics is well-positioned to provide ultra-precision optics to enable the expanding market for satellites, which is projected by Morgan Stanley to reach $1 trillion by 2040.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 2:05 pm

DIS

Walt Disney Company (NYSE:DIS) is reportedly close to selling a controlling stake in its Disney Star business in India to Reliance Industries Ltd. The deal, which could be announced as early as next month, is valued at around $7-10 billion. The acquisition would likely result in Disney retaining a minority stake in the Indian company.

Portfolio Pulse from Akanksha Bakshi

October 23, 2023 | 2:00 pm

INPX

Damon Motors, the maker of the HyperSport electric motorcycle, has announced a reverse merger with Inpixon (NASDAQ:INPX) through a spin-off entity, Grafiti Holding Inc. The enterprise value of Damon was estimated to be between $224M-$284M by Inpixon's independent financial advisory firm. Damon has secured over $85M in pre-production, consumer reservations for its motorcycles. Post-merger, the combined company plans to list on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 1:31 pm

CVX

HES

In a recent CNBC interview, Hess CEO John Hess stated that the company's deal with Chevron is the right long-term decision for shareholders.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 1:19 pm

FTV

Fortive Corp (NYSE:FTV) has signed a definitive deal to acquire EA Elektro-Automatik Holding GmbH for $1.45 billion in cash. The acquisition is expected to be accretive to FTV's adjusted gross and operating margins and neutral to modestly accretive to adjusted EPS in fiscal 2024. The transaction is expected to close in early Q1 2024, subject to customary closing conditions and regulatory approvals. Fortive plans to fund the acquisition through cash in hand and debt financing.

Portfolio Pulse from Lekha Gupta

October 23, 2023 | 1:17 pm

AJG

Arthur J. Gallagher & Co. has acquired Rosenzweig Insurance Agency, a full-service insurance broker with pharmacy expertise. The Rosenzweig team will operate as part of Gallagher Agency Alliance under the direction of Jen Tadin. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 1:03 pm

DEA

Easterly Government Properties has acquired a 35,005 square foot U.S. District Courthouse in Newport News, Virginia. The financial details of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 1:01 pm

BUKS

PLX

TGEN

Insiders at Tecogen Inc. (OTC:TGEN), Protalix BioTherapeutics, Inc. (NYSE:PLX), and Butler National Corporation (OTC:BUKS) have recently purchased shares in their respective companies. Tecogen announced a $1.5 million Credit Agreement, Protalix BioTherapeutics confirmed that its operations have not been affected by the current security situation in Israel, and Butler National disclosed the acquisition of KC Machine.

Portfolio Pulse from Lisa Levin

October 23, 2023 | 12:55 pm