Streetbeat News

Acquisitions Mergers

FOXA

NWSA

Activist shareholder Starboard Value has acquired a significant stake in News Corp (NASDAQ:NWSA) and is pushing for strategic and governance reforms. Starboard believes News Corp is undervalued due to its complex corporate structure and advocates for the spin-off of its digital real estate division, including REA Group and Realtor.com parent Move Inc. The firm is also pushing to eliminate News Corp's dual-class share structure, which grants the Murdoch family disproportionate voting rights.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 11:29 am

TKR

The Timken Company (NYSE:TKR) has announced plans to acquire Engineered Solutions Group (iMECH), a manufacturer of thrust bearings, radial bearings, specialty coatings and other components primarily used in the energy industry. The deal, which is expected to close in the fourth quarter, will be funded through a combination of cash on hand and Timken's existing revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:55 am

SUAC

ShoulderUp Technology Acquisition Corp. (NYSE:SUAC) has announced a non-binding letter of intent for a potential business combination with Airspace Experience Technologies, Inc., a pioneer in the urban mobility market. The company anticipates entering into a definitive agreement by the end of the year.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:34 am

AAC

Ares Acquisition (AAC) and X-Energy Reactor Company, LLC have announced the effectiveness of their registration statement and an extraordinary general meeting scheduled for October 31, 2023, to approve their business combination.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:33 am

PAX

Patria Investments has agreed to acquire the private equity solutions business from abrdn for up to £100M (~$122M), with £80M as base value and £20M as contingent payment. This acquisition is aimed at expanding Patria's global private markets capabilities.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:07 am

AIMAU

Aimfinity Investment Corp. I (NASDAQ:AIMAU) and Taiwanese smart medical device developer Docter Inc. have entered into a definitive merger agreement. A new subsidiary of Aimfinity will become a publicly listed company combining Aimfinity and Docter. The combined company plans to list its ordinary shares on Nasdaq after the transaction closes.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 10:06 am

APH

PCTI

Amphenol Corp (APH) has agreed to acquire PCTEL Inc (PCTI) for approximately $139.7 million. PCTI shareholders will receive $7.00 per share, a premium of over 50% to the closing stock price on October 13, 2023. The transaction is expected to close in Q4 2023 or early 2024. Post closure, PCTEL will no longer be listed on any public market.

Portfolio Pulse from Lekha Gupta

October 16, 2023 | 10:01 am

RAD

Rite Aid has announced that Medimpact will acquire its Elixir Solutions business. Medimpact will serve as the 'stalking horse bidder' in a court-supervised sale process.

Portfolio Pulse from Charles Gross

October 16, 2023 | 9:20 am

MLAB

Mesa Laboratories has acquired GKE-GmbH, a company specializing in sterilization indicators and healthcare channels, for €85M. This acquisition is expected to strengthen Mesa's position in the healthcare sector.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:52 am