Streetbeat News

Acquisitions Mergers

SUM

Summit Materials, Inc. (NYSE:SUM) has announced a definitive agreement to merge with Argos North America Corp., the U.S. operations of Cementos Argos S.A., in a cash and stock transaction valued at $3.2 billion.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:24 am

ONEW

OneWater Marine Inc. (NASDAQ:ONEW) has announced the acquisition of Harbor Pointe Marina. This move is aimed at expanding the company's presence on Alabama's Lake Martin and enhancing its new and pre-owned boat sales, finance, and parts and services offerings.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:14 am

NSRGY

Nestle S.A. (OTC:NSRGY) has agreed to buy a majority stake in Brazilian premium chocolate company Grupo CRM from Advent International. The deal, estimated to be worth between $602.78 million and $904.18 million, will enhance Nestle's presence in the high-end gifting segment. The transaction is expected to close in 2024, subject to regulatory approvals.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 11:09 am

TENB

Tenable, a cybersecurity company, has announced its plans to acquire Ermetic, a cloud security company, for approximately $240 million in cash and $25 million in restricted stock and RSUs.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 11:06 am

BFLBF

BFLBY

FLR

Fluor Corp (FLR) has agreed to sell its Stork business in Europe and its turbo blading manufacturing operation in the U.S. to Bilfinger SE (BFLBF, BFLBY). The company also settled with the U.S. Securities and Exchange Commission (SEC) for $14.5 million over an investigation into its accounting practices. The sale is part of Fluor's strategy to focus on its core businesses and is expected to be completed in H1 2024.

Portfolio Pulse from Shivani Kumaresan

September 07, 2023 | 10:56 am

KKR

KKR, a global investment firm, is investing approximately $750m in Zenobē, a leader in transport electrification and battery storage solutions. The investment aims to accelerate the global decarbonisation of diesel fleets and provide essential grid services. Infracapital, the infrastructure equity investment arm of M&G Plc and current majority shareholder, will also invest alongside KKR, with both becoming joint majority shareholders.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 10:06 am

PDS

Precision Drilling Corporation (NYSE:PDS) has announced an agreement to acquire CWC Energy Services Corp. for approximately $141 million. The deal includes 947,909 Precision shares valued at $88 million, $14 million in cash, and the assumption of CWC's outstanding debt.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 10:03 am

SAP

SAP SE has announced its acquisition of LeanIX, an enterprise architecture management software provider. The deal is expected to enhance SAP's business transformation portfolio and provide customers with AI-enabled process optimization tools. LeanIX has been a strategic partner of SAP for ten years. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Lekha Gupta

September 07, 2023 | 9:34 am

BTI

British American Tobacco (BTI) has signed an agreement to sell its businesses in Russia and Belarus to local management. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:50 am

DLR

Digital Realty (NYSE:DLR), a global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, has announced its expansion into the Italian market. This follows the acquisition and pre-development planning of land in Rome.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:06 am