Streetbeat News

Acquisitions Mergers

AIT

Applied Industrial Technologies (AIT) has acquired Bearing Distributors and Cangro Industries. The financial terms of the deals were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 12:04 pm

DM

SSYS

Desktop Metal has announced a special meeting of stockholders to vote on a proposed merger with Stratasys on September 28.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 12:01 pm

MARX

ScanTech Identification Beam Systems and Mars Acquisition Corp. (NASDAQ:MARX) have announced a definitive business combination agreement that will result in ScanTech becoming a publicly listed company. The combined company is expected to have an estimated post-transaction enterprise value of $149.5 million. The business combination has been approved by the boards of directors of both companies and is expected to close in the first quarter of 2024.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 12:01 pm

META

NFLX

UBER

Facebook, now Meta Platforms, Inc (NASDAQ:META), is seeking to monetize WhatsApp, a messaging app it acquired nearly a decade ago. WhatsApp has over 2 billion users and Meta aims to transform this user base into a significant source of revenue. The company is focusing on attracting more large businesses to use WhatsApp for customer interactions. In India, consumers use WhatsApp to book Uber Technologies, Inc (NASDAQ:UBER) rides and get Netflix Inc (NASDAQ:NFLX) recommendations. However, the actual value of WhatsApp to Meta remains uncertain.

Portfolio Pulse from Anusuya Lahiri

September 05, 2023 | 11:44 am

FA

First Advantage has acquired Infinite ID for $41 million in cash. The deal is expected to enhance First Advantage's capabilities in identity verification and fraud prevention.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:31 am

CVX

HHH

Chevron U.S.A. Inc. has acquired over 77 acres in Bridgeland Central, a master planned community owned by Howard Hughes Holdings Inc. The acquisition indicates continued growth for the Howard Hughes community and the commercial development of Bridgeland Central, an emerging 925-acre urban hub in the Northwest Houston region.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:21 am

ALB

Albemarle's CEO Kent Masters has expressed interest in acquiring Liontown Resources, stating that it presents a compelling opportunity. If a binding agreement is signed, the deal is expected to close in the first half of 2024.

Portfolio Pulse from Charles Gross

September 05, 2023 | 11:10 am

TKR

Timken has acquired Des-case, a manufacturer of specialty filtration products for industrial lubricants. Des-case's revenue for CY 2023 is expected to be around $40M. The deal was funded with a combination of cash on hand and Timken's existing revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:59 am

BC

Brunswick Corporation (BC) has announced the acquisition of Fliteboard. The terms of the deal were not disclosed. Fliteboard will operate as a business within Mercury Marine, a division of Brunswick.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:06 am

FANG

VNOM

Viper Energy Partners, a subsidiary of Diamondback Energy, has agreed to acquire mineral and royalty interests from Warwick Capital Partners and GRP Energy Capital. The deal is valued at approximately 9.02 million Viper common units and $750 million in cash.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 10:05 am