Streetbeat News

Acquisitions Mergers

TITN

Titan Machinery Inc (NASDAQ:TITN) has announced a definitive purchase agreement to acquire J.J. O'Connor & Sons Pty. Ltd. for $63 million in cash. The acquisition marks Titan's entry into the Australian agriculture market. The combined enterprise would generate approximately $2.9 billion in revenue and $5.20 in diluted earnings per share on an annualized basis. The company has also raised its FY24 EPS outlook from $4.50 - $5.10 to $4.60 - $5.25.

Portfolio Pulse from Shivani Kumaresan

August 31, 2023 | 1:51 pm

ACER

ZVRA

Zevra Therapeutics has agreed to acquire Acer Therapeutics for up to $91 million, with the transaction expected to close in Q4 2023. The deal includes approximately 2.96 million shares of Zevra common stock valued at $15 million and up to an additional $76 million in potential cash payments upon achievement of certain commercial and regulatory milestones for Acer's products. Zevra has also purchased Acer's secured debt from Nantahala Capital and agreed to provide Acer with a bridge loan facility for up to $16.5 million.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 1:32 pm

COTY

Kylie Jenner is reportedly considering buying back Coty's $600 million stake in Kylie Cosmetics, according to Bloomberg News.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 1:27 pm

UBS

UBS Group reported a Q2 EPS of $8.99, up from $0.61 a year ago and $0.32 in Q1 FY23, following its takeover of Credit Suisse. The company's adjusted EPS stood at $(0.01), excluding goodwill of $28.925 billion. Sales increased 7% Y/Y to $9.54 billion, beating the consensus of $8.57 billion. UBS also announced plans for cost savings of at least $10 billion by 2026, starting with the elimination of 3,000 jobs in Switzerland. UBS shares are up 5.10% at $26.58 during the premarket session on the last check Thursday.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 1:19 pm

BREA

Brera Holdings PLC (NASDAQ:BREA) has announced its intent to acquire and rebrand Mongolian Premier League team Bayanzurkh Sporting Ilch FC. The acquisition will expand the Brera brand to Asia, adding a third continent to its top-ranked teams in Europe and Africa. The company is also exploring opportunities in the Americas.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 12:54 pm

ACER

ZVRA

Zevra Therapeutics (ZVRA) has announced a definitive agreement to acquire Acer Therapeutics (ACER) in a merger transaction valued at up to $91 million. Both companies focus on the development of therapies for rare and life-threatening diseases.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 11:35 am

LANRF

Lancaster Resources Inc (OTC:LANRF) has agreed to acquire 100% of the Trans Taiga Lithium Project in Quebec's James Bay region. The acquisition diversifies Lancaster's exploration projects and expands its focus from lithium brine exploration in New Mexico to hard rock lithium exploration in Quebec. Lancaster plans to identify lithium-rich areas through geophysical programs, detailed geological mapping, and geochemical analysis. The initial payment commitment for the acquisition is $115,000.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 10:45 am

NAAS

NaaS Technology Inc. (NASDAQ:NAAS), the first U.S. listed EV charging service company in China, has entered into a convertible note purchase agreement with LMR Partners Limited. The agreement involves a $40 million convertible note, which can be converted into American depositary shares representing the company's ordinary shares. The company and the investor also entered into a derivative arrangement with respect to the ADSs.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:36 am

NYSE:SATX

TSX:MDA

MDA Ltd. (TSX:MDA) has signed an agreement to acquire the digital payload division of SatixFy Communications Ltd. (NYSE:SATX), SatixFy Space Systems UK Ltd., for $40 million. This acquisition will strengthen MDA's position in the digital satellite communications market.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 10:14 am

TW

Tradeweb Markets Inc (NASDAQ:TW) has completed the acquisition of Yieldbroker, a trading platform for Australian and New Zealand government bonds and interest rate derivatives, for A$125 million in an all-cash transaction. This deal expands Tradeweb's presence in the fast-growing markets of Australia and New Zealand, and allows its international client base to access Yieldbroker's bond and derivative marketplaces and pre-trade pricing data. The transaction is expected to enhance the liquidity, transparency, and efficiency of fixed-income markets.

Portfolio Pulse from Lekha Gupta

August 31, 2023 | 9:53 am