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Acquisitions Mergers

NXGN

NextGen Healthcare is reportedly exploring a sale with advice from Morgan Stanley, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 5:54 pm

MS

NXGN

NextGen Healthcare is reportedly exploring a sale, with Morgan Stanley acting as an advisor, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 5:52 pm

OLN

Ammunition manufacturer Olin Corp (NYSE:OLN) has agreed to acquire White Flyer Targets, LLC, a maker of recreational trap, skeet, and sporting clay targets. The acquisition will be funded with cash on hand and is expected to be immediately accretive to Olin's shareholders. The transaction is expected to be completed in Q4 2023.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 4:56 pm

TCNNF

The small town of Hancock, Maryland, which holds a 4.99% equity stake in Trulieve Cannabis' local operation, is seeking its fair share of the company's profits. The town entered the cannabis industry in 2015 through a deal with Harvest Inc., which was later acquired by Trulieve. The town now wants a full accounting of Trulieve's profits, including from recreational marijuana sales. A mediation session between Trulieve and Hancock is scheduled for August 30.

Portfolio Pulse from Jelena Martinovic

August 23, 2023 | 4:14 pm

PSN

Parsons Corporation (NYSE:PSN) has acquired Sealing Technologies, Inc. in a deal valued at up to $200 million. The acquisition is expected to generate $110 million of revenue in 2024 and will be accretive to Parsons' fiscal year 2024 revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share. SealingTech will expand Parsons' customer base across the Department of Defense and Intelligence Community and enhance its capabilities in defensive cyber operations, AI and ML, edge computing and edge access modernization, critical infrastructure protection, and secure data management.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 3:50 pm

FORG

Private equity firm Thoma Bravo has completed its acquisition of ForgeRock, leading to a rise in ForgeRock's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 2:47 pm

MO

Altria Group's subsidiary, NJOY, has filed a patent infringement complaint against JUUL Labs with the U.S. International Trade Commission. The complaint seeks a ban on the importation and sale of certain JUUL e-vapor products, alleging they infringe on NJOY's patents. Altria recently acquired NJOY and reported a 1.2% growth in Q2 FY23 revenues to $5.438 billion.

Portfolio Pulse from Shivani Kumaresan

August 23, 2023 | 2:29 pm

IBM

IBM has agreed to sell The Weather Company assets to Francisco Partners, a global investment firm. The deal includes all digital consumer-facing offerings, such as enterprise offerings for broadcast, media, aviation, advertising technology, and data solutions for emerging industries. IBM will retain its sustainability software business, including the Environmental Intelligence Suite (EIS). The transaction is expected to close by the end of Q1 2024.

Portfolio Pulse from Nabaparna Bhattacharya

August 23, 2023 | 2:10 pm

HUMBF

Humble & Fume Inc. has received an additional $4 million investment from Green Acre Capital Distribution Corp. into HC Solutions Holdings Inc., a joint venture company established by Humble and Green Acre. The investment increases Green Acre's ownership stake in HCI from 50.2% to 75%, while Humble retains the remaining 25%. Green Acre has also granted Humble an option to acquire 50% of the common shares of HCI for $2 million.

Portfolio Pulse from Vuk Zdinjak

August 23, 2023 | 1:31 pm

MANU

Manchester United Ltd (NYSE:MANU) shares are trading higher on reports that an official sale announcement could be just weeks away. The sale to Sheikh Jassim bin Hamad Al Thani for around £6 billion is reportedly in its final stages. The Glazer family, current owners of the club, have been reviewing offers from multiple potential buyers for over eight months.

Portfolio Pulse from Adam Eckert

August 23, 2023 | 1:25 pm