Streetbeat News

Acquisitions Mergers

CSE:BETR

Better HoldCo and Aurora Acquisition have announced the completion of their previously announced business combination, resulting in the formation of Better Home & Finance Holding Company.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 11:07 am

PSN

Parsons is acquiring Maryland-based cyber and technology company Sealing Technologies for up to $200 million. The deal includes $175 million in cash at closing and an additional $25 million in Q1 2025 if certain revenue targets are met in 2024. Parsons estimates that SealingTech will generate $110 million of revenue in 2024 and that the transaction will be accretive to Parsons' fiscal year 2024 revenue growth rate, adjusted EBITDA margin, and adjusted earnings per share.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:32 am

JNJ

KVUE

Kenvue has completed its separation from Johnson & Johnson and is expected to join the S&P 500. This move makes Kenvue a fully independent company.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:28 am

JNJ

KVUE

Johnson & Johnson has finalized the separation of Kenvue, retaining approximately 9.5% of the outstanding shares of Kenvue common stock. Johnson & Johnson will provide updated financials and 2023 guidance reflecting operations as a two-sector company focused on Pharmaceutical and MedTech innovation.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:23 am

DY

Dycom Industries, Inc. (NYSE:DY) has acquired Bigham Cable Construction, Inc., a company that provides telecommunications construction services in the southeastern United States. The acquisition, which expands Dycom's customer base and geographic scope, is expected to enhance its growth opportunities in rural broadband deployments.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:17 am

F

Ford Motor (NYSE:F) is investing $890 million in a cathode manufacturing facility in Québec, Canada, in collaboration with South Korean battery suppliers SK On and EcoProBM. The facility, set to start production in 2026, will supply materials for Ford's electric vehicle batteries and is expected to create 345 new jobs. The partnership aims to strengthen Ford's EV supply chain in North America.

Portfolio Pulse from Benzinga Neuro

August 23, 2023 | 8:42 am

BABA

Ant Group, the fintech affiliate of Alibaba Group Holding Limited (NYSE:BABA), is planning to restructure its operations, which could impact its international stakeholders. The company plans to make OceanBase, its database management system, an independent entity and repurchase shares held by foreign investors. This move could be a setback for investors like General Atlantic and the Carlyle Group.

Portfolio Pulse from Anusuya Lahiri

August 22, 2023 | 8:39 pm

FSV

First Onsite Property Restoration, a subsidiary of FirstService Corporation (NASDAQ:FSV), has acquired Case Restoration, a full-service mitigation service provider and general contractor based in Nashville, Tennessee. This acquisition is part of First Onsite's strategy to expand its services and improve client experiences. The financial terms of the acquisition have not been disclosed.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 7:33 pm

ESTE

PR

Permian Resources Corporation (NYSE:PR) has announced a $4.5 billion all-stock acquisition of Earthstone Energy, Inc. (NYSE:ESTE). Susquehanna analyst Biju Perincheril believes the deal will boost PR's production by 80% and has raised the price target for PR from $11 to $14. The acquisition more than doubles PR's net acreage position, with potential for future monetization of assets in the Midland Basin. Operational synergies of $115 million are expected, but the analyst suggests these could be exceeded.

Portfolio Pulse from Nabaparna Bhattacharya

August 22, 2023 | 7:26 pm

NNAGU

99 Acquisition Group Inc. has closed its initial public offering of 7.5 million units at $10 per unit, raising $75 million. The units, trading under the ticker symbol 'NNAGU' on Nasdaq, consist of one Class A ordinary share, one redeemable warrant, and one right to receive 1/5 of a Class A ordinary share upon an initial business combination. The company plans to use the proceeds for its initial business combination.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 7:17 pm