Streetbeat News

Acquisitions Mergers

MSOS

Aaron Miles of Verano Holdings has stated that the company is now considering businesses they had not previously considered for mergers and acquisitions. This change in strategy is due to a rescheduling that 'changes everything'.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:08 pm

SIRI

Sirius XM Holdings' shares are trading higher, rebounding after a drop on Tuesday. The drop was due to Liberty Media's announcement of a proposed combination with Sirius XM.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 7:24 pm

SIRI

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares are trading higher, recovering from a decline related to Liberty Media's proposal for a business combination. The proposal involves Liberty separating LSXM into a new subsidiary, with Sirius XM shareholders receiving one share of the new Sirius XM common stock and 55 cents per share in cash for each share of Sirius XM held at closing.

Portfolio Pulse from Ryan Gustafson

September 27, 2023 | 7:20 pm

SKY

Skyline Champion Corporation (NYSE:SKY) has invested about $138 million into Canadian company ECN Capital, acquiring 33.55 million ECN common shares and 27.45 million convertible preferred Series E shares. This investment gives Skyline access to ECN's subsidiary Triad Financial Services (TFS), a competitor in consumer manufactured home finance and floorplan lending. ECN Capital and SKY are forming a new entity, Champion Financing LLC, which will offer a consumer retail finance program and a branded floor plan offering. Wedbush analyst Jay McCanless reiterated an Outperform rating on SKY shares with a price target of $78.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 6:34 pm

JBLU

SAVE

Democratic Senator Elizabeth Warren has raised concerns about JetBlue's acquisition of Spirit Airlines, citing leaked court documents. She is seeking clarification on whether the deal will lead to higher fares for consumers.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:23 pm

KKR

TI

Telecom Italia has approved an extension until October 15, requested by KKR, for the submission of a binding offer on Netco.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 5:50 pm

LCID

Lucid Group Inc (NASDAQ:LCID) has opened its first international car manufacturing facility in Saudi Arabia. The plant, which is expected to produce electric vehicles for Saudi Arabia and other markets, has an annual capacity of 5,000 cars. The facility received support from the Ministry of Investment of Saudi Arabia, the Saudi Industrial Development Fund, and the Economic City at King Abdullah Economic City. Lucid expects to employ hundreds of Saudi nationals in the first few years and boost the workforce to thousands.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 5:19 pm

MOFG

MidWestOne Financial Group Inc (NASDAQ:MOFG) has agreed to acquire Denver Bankshares, Inc., the parent company for the Bank of Denver, for $32.6 million. The all-cash transaction is expected to close in Q1 2024. The company plans to fund the buyout through the proceeds of the previously announced sale of its Florida operations to DFCU Financial. MOFG expects the combined Florida and Denver transactions to be 13.4% accretive to EPS in 2024 and 10.2% in 2025.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 4:03 pm

PRO

PROS Holdings is reportedly working with Qatalyst Partners to explore options, including a potential sale. This has led to an increase in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 3:48 pm

EH

LILM

EHang Holdings Ltd. (NASDAQ:EH) has made a strategic investment in lithium battery maker Shenzhen Inx Technology. The deal will allow EHang to vertically integrate a key part of its supply chain by providing a dedicated source of batteries for its autonomous aerial vehicles (AAVs). EHang's AAVs are nearing regulatory approval in China, which will allow for large orders and potential profitability. The company's shares rose by 2.7% following the announcement but have since fallen due to concerns about the slowing Chinese economy.

Portfolio Pulse from The Bamboo Works

September 27, 2023 | 3:06 pm