Streetbeat News

Acquisitions Mergers

MSFT

TROW

Databricks Inc is in discussions with T. Rowe Price Group, Inc (NASDAQ:TROW) for a new funding round that could value the software maker at $43 billion. This comes after a valuation of $38 billion two years ago. Databricks, which provides tools for data, analytics, and AI, plans to launch a large language model, Dolly, and acquire a generative AI platform, MosaicML. Microsoft Corp (NASDAQ:MSFT) plans to sell a new version of Databricks software through its Azure cloud-server unit.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 11:54 am

SRPT

Sarepta Therapeutics has invested in Lexeo Therapeutics' Adeno-associated Virus Gene Therapy Programs. The terms of the deal were not disclosed. The companies will explore the development of novel gene therapy candidates for cardiovascular diseases.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:39 am

HT

KSL Capital Partners is set to acquire Hersha Hospitality Trust (NYSE:HT) for $10.00 per share in an all-cash deal valued at approximately $1.4 billion. The purchase price implies a 60% premium over Hersha's closing share price on August 25, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:32 am

CNC

Centene Corporation (CNC) has agreed to sell Circle Health, one of the U.K.'s largest independent operators of hospitals, to Purehealth, a Middle East-based integrated healthcare network. The deal is valued at approximately $1.2 billion, inclusive of debt assumed.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:32 am

ABCM

DHR

Danaher Corporation has agreed to acquire Abcam Plc for $24.00 per share in cash, representing a total enterprise value of $5.7 billion, including assumed indebtedness and net of acquired cash. Post-acquisition, Abcam is expected to operate as a standalone company and brand within Danaher's Life Sciences segment.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:32 am

XPRO

Expro has agreed to acquire offshore services provider PRT Offshore for a total consideration of $106 million, to be paid at closing. The payment includes $62 million in cash and $44 million in newly issued Expro shares. Additional consideration may be based on PRT Offshore's financial performance in the year following the closing.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:16 am

SKY

Skyline Corporation has entered into a definitive agreement to acquire Regional Enterprises LLC and related companies for a purchase price of $328 million plus assumed debt. The transaction, which includes $130 million of inventory floor plan liabilities, is expected to close in the third quarter of fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 11:06 am

KIM

RPT

Kimco Realty is set to acquire RPT Realty in an all-stock transaction. The deal is expected to create a combined company with a pro forma equity market capitalization of approximately $12 billion.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 10:56 am

RILY

B. Riley Financial led the equity financing for the $2.8B management-led acquisition of Franchise Group, investing $216.5 million of new capital. Other investors contributed approximately $280 million. The consortium has acquired all the outstanding and issued common and preferred stock of FRG.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 10:36 am

CS

UBS

The Swiss Competition Commission is currently examining the potential takeover of Credit Suisse by UBS. The regulatory body is assessing the implications of such a merger on the Swiss banking sector.

Portfolio Pulse from Bill Haddad

August 28, 2023 | 10:29 am