Streetbeat News

Acquisitions Mergers

SAP

SAP has announced plans to acquire LeanIX, a move that will enhance its business transformation solutions and enable AI-driven process optimization. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 6:54 am

FLR

Fluor Corporation (FLR) has sold its Stork business and Turbo Blading manufacturing operations to Bilfinger. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 6:48 am

SJT

San Juan Basin Royalty Trust has reached a settlement agreement with Hilcorp for $1.04 million. The agreement resolves all disputes between the two parties.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 5:51 am

BHC

Bausch Health's Bausch + Lomb has disclosed historical and pro forma financial information related to its acquisition of XIIDRA. The details of the financials were not provided in the news.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 5:10 am

KKR

PARA

TWTR

Elon Musk's acquisition of Twitter in 2022 for $44 billion is detailed in an upcoming biography by Walter Isaacson. Musk initially planned to join Twitter's board but decided to acquire the company after disagreements with CEO Parag Agrawal. The deal was marked by public drama, a lawsuit, and a second offer to finalize the acquisition. Musk accelerated the closing of the deal to fire Agrawal and other executives before their stock options vested. The biography also reveals that Simon & Schuster, the book company publishing the biography, is being acquired by KKR & Co from Paramount Global.

Portfolio Pulse from Chris Katje

September 07, 2023 | 4:52 am

LCID

Lucid Motors (NASDAQ:LCID) is planning to expand into the Chinese EV market and introduce mass-market electric vehicle models. The company has not yet established a timeline for this expansion. Lucid is also planning to expand its product range into lower-price categories, with a mid-sized car model potentially unveiled by 2026. This comes amid a difficult period for Lucid, which cut about 18% of its workforce in March due to declining demand and reported increasing net losses for the second quarter.

Portfolio Pulse from Benzinga Neuro

September 07, 2023 | 3:16 am

WFG

West Fraser Timber has entered into an agreement to acquire Spray Lake Sawmills for C$140 million. The acquisition will allow West Fraser to expand its footprint in Southern Alberta and its Canadian treated wood business, and provide access to a high-quality timber supply. The transaction is expected to close later this year.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 10:02 pm

SMFKY

WRK

WestRock is reportedly nearing a deal to merge with Smurfit Kappa, according to sources. The details of the deal are not yet disclosed.

Portfolio Pulse from Charles Gross

September 06, 2023 | 9:17 pm

IPVF

InterPrivate III Financial Partners has extended the deadline to complete its initial business combination to October 9, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:52 pm

FRGI

Fiesta Restaurant Group has announced the expiration of its 'Go-Shop' period. The company is expected to be acquired by Authentic Restaurant Brands in Q4 of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:40 pm