Streetbeat News

Acquisitions Mergers

DATS

KLR

NEWR

SPLK

The article lists four tech stocks that are considered overbought and may collapse this month. These include Splunk Inc. (SPLK), which is being acquired by Cisco (CSCO) for $28 billion, New Relic, Inc. (NEWR), which reported better-than-expected Q1 results and is being acquired by Francisco Partners and TPG for $6.5 billion, Kaleyra, Inc. (KLR), which announced a strategic collaboration with Talisma, and DatChat, Inc. (DATS), which recently announced a 1-for-10 reverse stock split.

Portfolio Pulse from Lisa Levin

September 25, 2023 | 12:05 pm

HZO

MarineMax's subsidiary, Fraser Yachts, has signed a definitive agreement to acquire a controlling interest in Greece-based Atalanta Golden Yachts. The principal shareholder of Atalanta, John Dragnis, will retain a significant stake and continue to be involved in Fraser's operations in Greece. The acquisition is expected to close by the end of Q4 2023 and be accretive in its first full year of operations.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 11:35 am

BKNG

Booking Holdings Inc (NASDAQ:BKNG) plans to appeal the European Commission's decision to block its acquisition of Etraveli Group from CVC Capital Partners. The company argues that the Commission is incorrect on both the facts and the law applicable to the transaction, which was previously cleared by multiple competition authorities. The EU regulators are concerned that the acquisition would further solidify Booking's dominance in the travel industry.

Portfolio Pulse from Shivani Kumaresan

September 25, 2023 | 11:08 am

RRX

WEGZY

Regal Rexnord Corp (RRX) plans to sell its Industrial Motors and Generators businesses to WEG SA (WEGZY) for $400 million. The transaction, which includes most of RRX's Industrial Systems segment, is expected to close in H1 2024. RRX's CEO believes the sale aligns with the company's strategy of focusing on areas where it can achieve higher growth rates and margins. As of June 30, 2023, RRX had cash and cash equivalents of $659.6 million.

Portfolio Pulse from Lekha Gupta

September 25, 2023 | 10:43 am

CNXC

Concentrix has completed its merger with Webhelp and the integration process has begun. The combined entity will temporarily operate under the name Concentrix + Webhelp until a permanent name is finalized.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:32 am

RRX

WEGZY

Regal Rexnord Corporation (NYSE:RRX) has agreed to sell its Industrial Motors and Generators businesses, which make up the majority of its Industrial Systems segment, to WEG S.A. (OTC:WEGZY) for $400 million. The deal is expected to close in the first half of 2024, pending regulatory approvals and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:18 am

RRX

WEGZY

Regal Rexnord has agreed to sell the majority of its Industrial Systems Segment, which includes its industrial motors and generators businesses, to WEG for $400 million.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:16 am

ENOV

Enovis has agreed to acquire privately held global orthopedic company LimaCorporate S.p.A. The acquisition has an enterprise value of €800M.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:08 am

AIG

AIVAF

CRBG

Corebridge Financial Inc (NYSE:CRBG) has agreed to sell its UK life insurance business, AIG Life Limited, to Aviva PLC (OTC:AIVAF) for £460 million in cash. The sale is expected to close in H1 2024, subject to regulatory approvals. This move is part of Corebridge's strategy to focus on its core US portfolio. As of June 30, 2023, the company's liquidity stood at $1.6 billion.

Portfolio Pulse from Lekha Gupta

September 25, 2023 | 9:46 am

BKNG

Booking Holdings has announced its intention to appeal the European Commission's decision to prohibit its acquisition of Etraveli Group. The company also announced an extension of a commercial partnership agreement between Booking.com and Etraveli Group through at least December 2028.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:30 am