Streetbeat News

Acquisitions Mergers

VERY

iA Financial Group has announced its plans to acquire Vericity, leading to a rise in Vericity's stock prices.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:54 pm

PNC

PNC has acquired a portfolio of capital commitments facilities from Signature Bridge Bank through an agreement with the FDIC as receiver. The portfolio represents $16.6B in total commitments, including $9B of funded loans.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 12:49 pm

DISH

SATS

Dish Network has entered into an amended and restated agreement and plan of merger with EchoStar and EAV Corp. The amended merger agreement revises the structure of the merger between Dish and EchoStar.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:47 pm

WTRG

Essential Utilities, Inc. (NYSE:WTRG) has announced a binding agreement to sell its three non-utility microgrid and district energy properties in Allegheny County to Cordia for $165 million. The assets include the Pittsburgh International Airport microgrid, the district energy system at Allegheny Health Network – Wexford Hospital, and the Allegheny County District Energy system. The transaction is expected to close in late 2023 or early 2024.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 12:17 pm

PEGR

Heramba Electric is set to list on Nasdaq through a business combination with Project Energy Reimagined Acquisition Corp (PEGR). The pro forma implied enterprise value of the combined company is approximately $450 million.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 12:15 pm

LLY

PNT

Eli Lilly has agreed to acquire Point Biopharma at $12.50/share in cash, causing Point Biopharma's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:54 am

WTMA

Welsbach Technology Metals Acquisition Corp. has announced an extension to the deadline for a business combination to June 30, 2024. The decision was made during a special meeting of its stockholders, with approximately 84.111% of the shares represented.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:52 am

MITSY

Clinical trial intelligence platform company, Lokavant, has received an $8 million strategic investment from Mitsui & Co. Ltd. The funding will be used to expand Lokavant's AI-optimized platform across the Asia-Pacific region, with a new APAC headquarters set to open in Tokyo. CMIC Group, Japan's largest contract research organization and one of Lokavant's earliest customers, is a key player in this expansion.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:39 am

EADSY

UAL

United Airlines is reportedly close to an agreement to purchase a double-digit number of Airbus A321 narrowbody jets, according to Bloomberg. The exact number and financial details of the deal have not been disclosed.

Portfolio Pulse from Charles Gross

October 03, 2023 | 11:35 am

DNUT

Krispy Kreme, Inc. (NASDAQ:DNUT) is considering strategic alternatives for Insomnia Cookies, including a potential all-cash sale. The company acquired a majority stake in Insomnia Cookies in 2018 and expects revenues of approximately $230 million in fiscal year 2023. This decision is aimed at unlocking shareholder value and focusing on Krispy Kreme's core strategy.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:33 am