Streetbeat News

Acquisitions Mergers

BFI

BurgerFi International, Inc. (NASDAQ:BFI) has acquired two franchise restaurants in South Florida, signaling its commitment to corporate expansion. The acquisition is part of CEO Carl Bachmann's 5-point business plan and increases the company's corporate locations in Florida to 27.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 12:18 pm

BIOX

MLEC

Moolec Science SA (MLEC) has secured a $21M investment from Grupo Insud via a convertible note due 2026. The note will be issued against a cash payment of $10M and in-kind contributions from Insud. This follows Moolec's previous agreement with Bioceres Crop Solutions (BIOX) for the supply of approximately 15,000 tons of HB4® soybeans. The total value of the convertible notes from both deals is approximately $30M.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 12:13 pm

CHH

WH

Choice Hotels International, Inc. (CHH) has publicly proposed to acquire all outstanding shares of Wyndham Hotels & Resorts, Inc. (WH) at $90.00 per share, a mix of cash and stock, valuing Wyndham at approximately $7.8 billion. However, Wyndham has decided to disengage from further discussions with Choice. The offer presented a 26% premium compared to Wyndham's 30-day volume-weighted average closing price. Choice anticipates meaningful annual run-rate synergies, estimated at approximately $150 million.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2023 | 12:10 pm

HSY

JVA

SJM

WTER

The article lists four oversold stocks in the consumer staples sector that could be undervalued: The Alkaline Water Company Inc. (WTER), Coffee Holding Co., Inc. (JVA), The J. M. Smucker Company (SJM), and The Hershey Company (HSY). WTER received a deficiency letter from Nasdaq, JVA is advancing a merger with Delta Corp Holdings Limited, SJM is selling its Sahale Snacks brand to Second Nature Brands, and HSY received an Overweight rating from Stephens & Co.

Portfolio Pulse from Lisa Levin

October 17, 2023 | 11:24 am

WH

Choice Hotels has proposed to acquire Wyndham Hotels & Resorts for $90.00 per share, payable in a mix of cash and stock. This has led to a rise in Wyndham's share price.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:16 am

KKR

Private equity firm KKR is acquiring a minority economic stake in life sciences company Catalio Capital Management. The terms of the deal were not disclosed. KKR will also invest in Catalio's funds.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 11:11 am

CHH

WH

Choice Hotels has made its latest proposal public after Wyndham decided to disengage from further discussions. The two companies have been in dialogue for nearly six months.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:36 am

CHH

WH

Choice Hotels has proposed to acquire Wyndham Hotels & Resorts for $90.00 per share in a cash-and-stock transaction.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 10:34 am

BRK/A

BRK/B

Mitsubishi is reportedly considering a bid for Fujitsu's chip unit, Shinko Electric. Berkshire Hathaway, which has an 8.3% stake in Mitsubishi, could be indirectly affected by this potential acquisition.

Portfolio Pulse from Charles Gross

October 17, 2023 | 9:15 am

FTRE

Starboard Value, an investment firm, has acquired a stake of over 5% in contract-research company Fortrea. The news was reported by The Wall Street Journal.

Portfolio Pulse from Charles Gross

October 17, 2023 | 8:53 am