Streetbeat News

Acquisitions Mergers

SBEV

Splash Beverage Group, Inc. (NYSE:SBEV) has entered a non-binding Term Sheet to fund acquisitions. The Credit Facility will provide acquisition financing at the current Euribor rate plus 1.5% and will mature in 7 to 10 years. The company intends to target brands with revenues between $20 million and $75 million.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:30 pm

ARQQ

ARQQW

Arqit Quantum is expanding its digital security offerings with a key agreement platform. The company is also in ongoing negotiations for the sale of its satellite division.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:28 pm

TRNO

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Santa Ana, California for approximately $14.8 million. The property will be redeveloped into a 92,000 square foot industrial distribution building, with completion expected in Q1 2025. The redeveloped property is 100% pre-leased to a provider of temperature-controlled life sciences supply chain solutions.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 1:25 pm

TS

Tenaris has acquired a pipe processing facility to enhance its US operations. The acquisition is expected to strengthen Tenaris's position in the US market.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:22 pm

IMPP

Imperial Petroleum has announced a $10M share repurchase program. The company will also acquire two vessels for an aggregate price of $71M.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:16 pm

SUM

Summit Materials has announced a combination with Argos USA, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:11 pm

WRK

WestRock is in discussions about a potential combination with Smurfit Kappa Group. This has led to an increase in WestRock's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 1:11 pm

BABA

FANG

UBER

XLE

On CNBC's 'Halftime Report Final Trades', Brian Belski of BMO Capital Markets recommended Uber Technologies, Stephen Weiss of Short Hills Capital Partners recommended Alibaba Group Holding, Joseph Terranova of Virtus Investment Partners recommended Diamondback Energy, and Liz Young of BNY Mellon Investment Management recommended Energy Select Sector SPDR Fund. Uber recently signed a deal with Hy-Vee for grocery delivery in the Midwest. Alibaba was reiterated with a Positive rating and a $160 price target by Susquehanna analyst Shyam Patil. Diamondback Energy's subsidiary, Viper Energy Partners, announced a purchase and sale deal to acquire certain mineral and royalty interests.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 12:44 pm

SASI

Sigma Additive Solutions (NASDAQ:SASI) has announced a non-binding LOI to acquire travel technology company NextTrip for approximately $48M, or $0.40/share, if all milestones are met. The deal will be paid in Sigma common stock, constituting 19.99% of its outstanding common stock plus additional shares upon achievement of post-closing milestone earnouts. Sigma also plans to sell its quality assurance software assets to a strategic buyer. The transactions are expected to be completed in Q4 2023, subject to negotiation, regulatory and shareholder approvals.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 12:34 pm

GLLI

Globalink Investment Inc. (NASDAQ:GLLI) has extended the deadline to complete its initial business combination from September 9, 2023 to October 9, 2023. This is the third of five extensions permitted under the company's governing documents. The company deposited $130,000 into its trust account with Continental Stock Transfer and Trust Company to facilitate this extension.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 12:32 pm