Streetbeat News

Acquisitions Mergers

CHS

Chico's FAS Inc (NYSE:CHS) shares are surging following the announcement of its acquisition by Sycamore Partners for $1 billion. Shareholders will receive $7.60 per share in cash, a 65% premium to its closing price on September 27, 2023. The deal includes a 30-day 'go-shop' period, allowing CHS to consider alternative acquisition proposals. The transaction is expected to close by Q1 2024, after which CHS will be de-listed from the NYSE.

Portfolio Pulse from Lekha Gupta

September 28, 2023 | 12:46 pm

CHS

Chico's FAS has announced its acquisition by Sycamore Partners, leading to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:35 pm

C

HSBC

HSBC Holdings PLC is set to acquire Citigroup Inc's China consumer wealth management business, which manages over $3 billion in assets. The deal will likely expand HSBC's presence in China's $3.94 trillion fund management market. Citigroup is also reportedly aiming to sell some of its portfolios for winding down its China retail banking business and exit consumer franchises across Asia, Europe, the Middle East, Africa, and Mexico.

Portfolio Pulse from Lekha Gupta

September 28, 2023 | 12:33 pm

FRLA

OCLN

Fortune Rise Acquisition Corporation (FRLA) and OriginClear subsidiary, Water On Demand Inc. (WODI), have agreed to nominate Progressive Water Treatment Inc. (PWT) as a new target for acquisition by FRLA. PWT recently merged with WODI. The Letter of Intent executed with WODI has been amended to designate PWT as the new target of the acquisition. FRLA proposes to acquire all the outstanding securities of PWT, subject to certain conditions. The newly-combined entity anticipates trading publicly on Nasdaq under a new trading symbol.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:33 pm

JGGC

Jaguar Global Growth Corporation I (NASDAQ:JGGC) and GLAAM, Co., Ltd. have announced that their previously announced business combination was approved by over 79% of Jaguar Global's shareholders. As a result, GLAAM and Jaguar Global shareholders will exchange their shares for shares in a new combined company named Captivision Inc. The new company's ordinary shares and warrants are expected to be listed on the Nasdaq Stock Market under the proposed ticker symbols 'CAPT' and 'CAPTW', respectively.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:32 pm

ASPI

ASP Isotopes Inc. (ASPI) has entered into a Memorandum of Understanding (MOU) with a small modular reactor company to supply High Assay Low Enriched Uranium (HALEU). ASPI has created a new subsidiary, Quantum Leap Energy LLC (QLE), to focus on the development of Quantum Enrichment Process technology, with a goal to supply commercial quantities of HALEU for Small Modular Reactors by 2027. The company anticipates a demand of $30 billion for HALEU. QLE operations are expected to be primarily funded by customers through investments and prepayments. ASPI is considering plans for a future spin-off of the QLE business to ASPI shareholders.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:06 pm

JVA

Coffee Holding Co., Inc. (NASDAQ:JVA) and Delta Corp Holdings Limited have jointly announced the filing with the U.S. Securities and Exchange Commission of a registration statement on Form F-4 by Delta Corp Holdings Limited, a newly created holding company. This is in line with the previously announced merger and share exchange agreement, where both companies will become wholly owned subsidiaries of the new holding company. The closing of the transactions is subject to certain conditions, including the approval of the stockholders of Coffee Holding and the listing of the ordinary shares of the new holding company on the Nasdaq Stock Market.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:06 pm

CBAT

CBAK Energy Technology, Inc. (NASDAQ:CBAT) has announced that its subsidiary, Nanjing CBAK, will acquire a 5% stake in Shenzhen BAK Power Battery Co., Ltd. for approximately $35.57 million. BAK Power, a power battery R&D and manufacturing company, will supply its battery products to CBAK Energy, creating synergy with CBAK Energy's existing products and establishing non-compete agreements for certain key customers.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 12:04 pm

FNCB

PFIS

Peoples Financial Services Corp (PFIS) and FNCB Bancorp Inc (FNCB) have agreed to merge in an all-stock deal valued at approximately $129.0 million. The merger will create a bank holding company with nearly $5.5 billion in assets and a combined market capitalization of about $444 million. The combined bank will operate under the name 'Peoples Financial Services Corp.' and trade under the ticker 'PFIS'. The transaction is expected to close in Q1 2024.

Portfolio Pulse from Lekha Gupta

September 28, 2023 | 11:58 am

CHS

Chico's FAS, Inc. (NYSE:CHS) has announced a definitive agreement to be acquired by Sycamore Partners for $1 billion. Upon completion, Chico's FAS will become a privately held company. Shareholders will receive $7.60 per share in cash, a 65% premium to the closing stock price on September 27, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:58 am