Streetbeat News

Acquisitions Mergers

ENSG

The Ensign Group, Inc. (NASDAQ:ENSG) has acquired the operations of two South Carolina-based skilled nursing facilities, Ashley River Healthcare and The Reserve Healthcare and Rehabilitation. The financial terms of the deal were not disclosed. This acquisition is in line with Ensign's strategy of leasing and acquiring real estate. The company's Q2 report showed a 25.9% Y/Y increase in total skilled services revenue to $884.2 million. The latest acquisitions bring Ensign's portfolio to 295 healthcare operations across 13 states.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2023 | 2:26 pm

FANG

VNOM

Viper Energy Partners LP (VNOM), a subsidiary of Diamondback Energy Inc (FANG), plans to acquire mineral and royalty interests from Warwick Capital Partners and GRP Energy Capital for $750 million and 9.02 million VNOM common units. The deal includes about 7,300 net royalty acres in the Permian Basin and other major basins. The transaction is expected to close by mid-Q4 FY23. VNOM expects the production to increase to ~4,750 bo/d (~8,500 boe/d) for 2024. VNOM provided FY24 preliminary guidance, expecting average daily production guidance of 25,500 to 27,500 bo/d (44,500 to 48,000 boe/d).

Portfolio Pulse from Lekha Gupta

September 05, 2023 | 2:11 pm

CYBN

MSSTF

PSIL

PSYCF

SILFF

Several mergers and acquisitions have been announced in the psychedelics sector. Cybin (NYSE:CYBN) is acquiring Small Pharma (OTC:DMTTF), Silo Wellness (OTC:SILFF) is buying NUGL Inc./Kaya Group (OTC:NUGL), and Mindset Pharma (OTC:MSSTF) is being acquired by Otsuka America Inc., part of Otsuka Holdings (OTC:OTSKF). Additionally, Psyched Wellness (OTC:PSYCF) is set to receive $7.5M in financing. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has seen a slight increase in its share price.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 2:08 pm

JNJ

KVUE

Johnson & Johnson (JNJ) plans to use the proceeds from the recent separation of its consumer-health segment Kenvue Inc (KVUE) to bolster its growth in pharmaceuticals and medical technology. The strategy could include new acquisitions, product enhancements, and a deeper dive into robotics. The divestiture of its Kenvue stake will lead to annual savings of more than $900 million in dividend expenses. JNJ shares are up 0.10% at $160.63.

Portfolio Pulse from Vandana Singh

September 05, 2023 | 1:39 pm

BECN

Beacon Roofing Supply, Inc. (BECN) has announced the acquisition of S&H Building Material Corporation. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 1:31 pm

TKR

The Timken Company (NYSE:TKR), a maker of engineered bearings and industrial motion products, has acquired Des-Case Corp., a manufacturer of specialty filtration products for industrial lubricants. The financial terms of the deal were not disclosed. Des-Case's revenue for 2023 is expected to be around $40 million. Timken funded the transaction with a combination of cash on hand and its existing revolving credit facility.

Portfolio Pulse from Shivani Kumaresan

September 05, 2023 | 1:30 pm

BC

Brunswick Corporation (NYSE:BC) has acquired Fliteboard, a provider of eFoiling technology, for an undisclosed sum. The acquisition will enhance Brunswick's electrification and shared-access strategies and allow it to enter the electric-foiling surfboard market. Fliteboard will operate as a business within Mercury Marine. The move is expected to provide technological, manufacturing, commercial, and consumer synergies with Brunswick's existing portfolio.

Portfolio Pulse from Shivani Kumaresan

September 05, 2023 | 1:05 pm

METX

BTC Digital Ltd. (NASDAQ:METX) has provided updates on its digital currency business for Q2 2023, reporting that it had deployed 1,754 BTC miners with a total mining hash rate of 188PH/s and a total output of 35.07 BTC. The company has also deployed 200 S19J PRO mining machines, increasing the mining hash rate by 22 PH/s. BTC Digital plans to acquire more BTC miners by the end of 2023 through share issuance, mergers and acquisitions, or financings. The company is also considering building or acquiring BTC miners in North America, reducing energy costs, and developing a custody business.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 12:46 pm

TSX:TFII

TFI International Inc. (TSX:TFII) has announced the acquisition of Vedder Transportation Group, a company specializing in the tank truck transport of food grade liquids and dry bulk commodities. The financial terms of the deal were not disclosed. Vedder, which generates annual revenues in excess of CAD $80 million, will join TFI International's Specialized Truckload business segment.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 12:14 pm

BWAQ

Blue World Acquisition Corporation (BWAQ) has extended the deadline for its initial business combination from September 2, 2023 to October 2, 2023. The company has deposited $60,000 into its trust account as an extension fee, which was paid by Blue World Holdings Limited, the sponsor of the company.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 12:10 pm