Streetbeat News

Acquisitions Mergers

SASI

Sigma Additive Solutions has acquired NextTrip, with an implied enterprise valuation of approximately $50 million.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:46 pm

SNDL

SunStream Bancorp has announced a court order granting the sale of certain assets of Greenpeak Industries and affiliated entities, Skymint, to Skymint Acquisition Co., a designee entity of Tropics LP, fully owned by an affiliate of Sunstream and sponsored by SNDL Inc. The sale is part of Skymint's ongoing restructuring and is expected to close in Q1 2024, subject to regulatory approval. The assets include 21 retail leases with dispensaries that produced annualized sales of approximately $68 million in September 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:42 pm

ATVI

MSFT

Microsoft has officially closed its acquisition deal with Activision Blizzard, as reported by CNBC.

Portfolio Pulse from Happy Mohamed

October 13, 2023 | 12:39 pm

ATVI

MSFT

The UK's Competition and Markets Authority (CMA) has approved Microsoft's $69 billion acquisition of Activision Blizzard. The approval comes after Microsoft agreed to sell Activision’s game streaming rights, including the popular “Call of Duty”, to Ubisoft Entertainment. The acquisition, which aims to bolster Microsoft’s growth across console, mobile, PC, and cloud gaming, is set to be finalized by Oct. 18.

Portfolio Pulse from Rounak Jain

October 13, 2023 | 12:35 pm

SASI

Sigma Additive Solutions has signed a definitive agreement to acquire NextTrip. Sigma will acquire 100% of NextTrip's capital stock in exchange for 19.99% of Sigma's outstanding common stock. The deal, expected to complete in Q4 2023, includes additional contingent shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to NextTrip's business performance. Post-acquisition, NextTrip's CEO William Kerby will become CEO of the publicly traded company and NextTrip will have the right to appoint one member to the board of directors. Sigma is expected to change its name to NextTrip, Inc. and to be listed on Nasdaq under a new trading symbol.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:35 pm

GOOD

Gladstone Commercial Corporation (NASDAQ:GOOD) has acquired a 70,000 square foot industrial manufacturing facility in Allentown, Pennsylvania, for a total purchase price of $7.8 million. The property is 100% leased to Alleguard, a manufacturer and distributor of custom EPS, EPP and ARCEL foam products. The acquisition is part of Gladstone's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:34 pm

PFIN

P&F Industries, Inc. (NASDAQ:PFIN) has announced a definitive agreement to be acquired by ShoreView Industries in an all-cash transaction for $13.00 per share, a 97% premium to the closing stock price on October 12, 2023. The transaction, approved by the P&F Board of Directors, is expected to close in Q4 2023, subject to approvals and consents. Post-acquisition, P&F will become a wholly owned subsidiary of ShoreView and will no longer be listed on any public market.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:34 pm

AMZN

CSCO

PANW

VNQ

On CNBC's 'Halftime Report Final Trades', Stephanie Link of Hightower named Amazon as a good investment due to the success of Prime Day and AWS stabilization. Jim Lebenthal of Cerity Partners recommended Cisco Systems, citing its growth and recent acquisition of Splunk Inc. Jason Snipe of Odyssey Capital Advisors named Palo Alto Networks as his final trade, following its alliance with Kyndryl. Shannon Saccocia of Boston Private picked Vanguard Real Estate Index Fund. All stocks mentioned saw slight increases in their share prices.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 12:32 pm

WDC

Japan's Kioxia and the chip arm of Western Digital are reportedly in merger talks. The deal could potentially create a global giant in the semiconductor industry.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:23 pm

JPM

JP Morgan's CFO, Jeremy Barnum, has reported that the integration of First Republic Bank is progressing well.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:06 pm