Streetbeat News

Acquisitions Mergers

CVX

XOM

CrownRock, backed by billionaire Timothy Dunn, is reportedly preparing for a potential sale that could surpass $10 billion, marking a significant milestone in the U.S. oil and gas industry. The company has initiated discussions with investment banks to oversee the sale process. Oil industry giants like Exxon Mobil Corp and Chevron Corp are expected to be approached for the potential acquisition. The decision to explore a sale is driven by the recent upswing in oil prices and high demand for positions in the prosperous Permian basin, where CrownRock operates.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 11:29 am

BAER

Bridger Aerospace Group Holdings has acquired Ignis Technologies for $3 million, with an additional contingent earn-out consideration of up to $9 million. The acquisition is aimed at expanding Bridger's wildland fire software offerings.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 11:05 am

NBSE

Symetryx Corporation has proposed a specific company as a potential merger candidate to Neubase (NBSE) on September 13, 2023, and offered to facilitate an introduction if there is interest.

Portfolio Pulse from Charles Gross

September 14, 2023 | 10:12 am

NEWR

New Relic announced that the HSR waiting period has expired and none of the 53 parties contacted submitted a competing acquisition proposal during the 'Go-Shop' period. The deal with Francisco Partners & TPG remains on track to close late 2023 or early 2024.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 10:10 am

ICCT

iCoreConnect has entered into a purchase agreement with Arena Business Solutions Global SPC II, Ltd. to purchase up to $40M of ICCT common stock.

Portfolio Pulse from Charles Gross

September 14, 2023 | 10:08 am

FWBI

SNY

First Wave BioPharma Inc (FWBI) has entered into a licensing agreement with Sanofi SA (SNY) for Capeserod, a drug that First Wave plans to repurpose for gastrointestinal indications. This follows disappointing results from First Wave's Phase 2 SPAN trial. The agreement includes a modest upfront payment, backend milestone payments, and single-digit royalties on net sales. First Wave will request a meeting with the FDA to establish a development and regulatory pathway for Capeserod.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 10:00 am

APO

IGT

Apollo Global Management (APO) is reportedly among the potential buyers for International Game Technology's (IGT) global gaming unit. The unit could be sold for around $4 billion.

Portfolio Pulse from Charles Gross

September 13, 2023 | 11:28 pm

GOOG

GOOGL

TWTR

Elon Musk, who acquired Twitter for $44 billion in 2022 and rebranded it as X, has been referring to the platform as Twitter during public appearances. Despite the name confusion, Musk has positive remarks about the platform, noting an increase in advertising and promising future developments. He also mentioned that Twitter is paying out revenue share of advertising to its creators, similar to Alphabet Inc's YouTube.

Portfolio Pulse from Chris Katje

September 13, 2023 | 10:56 pm

VTLE

Vital Energy has signed three definitive agreements with affiliates of Henry Energy LP, Henry Resources LLC, Tall City Property Holdings III LLC, and Maple Energy Holdings, LLC. The transactions, worth a total of $1.1653B, are expected to close in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 9:24 pm

DDD

SSYS

3D Systems has submitted a binding offer to Stratasys, suggesting that Stratasys is worth more than $27 per share. 3D Systems is urging Stratasys shareholders to vote against the Desktop Metal transaction on September 28th, presenting an alternative merger agreement.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 8:29 pm