Streetbeat News

Acquisitions Mergers

AMZN

Amazon.com Inc. is planning to revamp its grocery business by integrating Whole Foods Market more closely. The overhaul includes store revamps, testing highly automated warehouses, and offering fresh-food delivery to non-Prime customers. Amazon also plans to merge its various e-commerce supermarket offerings into one online cart. The company aims to make this offer standard nationwide by year-end and eventually include products from Whole Foods and other grocers.

Portfolio Pulse from Benzinga Neuro

August 04, 2023 | 12:40 pm

TSLA

UBER

Gary Black from Future Fund suggests that Tesla, Inc. (NASDAQ:TSLA) should consider buying Uber Technologies, Inc. (NYSE:UBER) to capitalize on its Robotaxi service. This acquisition would provide Tesla with access to Uber's 137 million consumers and their data. However, some critics argue that Tesla's data is superior to Uber's. Furthermore, Tesla would need to sell shares or raise debt financing to afford Uber's $95 billion market. Tesla's stock closed down 2.67% at $254.11, while Uber's stock rose 0.66% to $46.96.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 12:36 pm

AXA

Corebridge Financial has sold Laya Healthcare to AXA for €650 million.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:34 pm

KRP

Kimbell Royalty Partners, LP (NYSE:KRP) has announced the pricing of its public offering of 7.25 million common units at $14.00 per unit, with total gross proceeds expected to be around $101.5 million. The proceeds will be used to repay outstanding borrowings under its revolving credit facility and potentially fund a portion of the purchase price of an acquisition of oil and natural gas mineral and royalty interests.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:34 pm

TMDX

Transmedics has acquired warm perfusion EVOSS and cold perfusion LifeCradle technologies from Bridge To Life. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:31 pm

PRTK

Paratek Pharmaceuticals (NASDAQ:PRTK) has filed definitive proxy materials and a letter to its stockholders regarding its acquisition by Gurnet Point Capital and Novo Holdings. Stockholders will receive an upfront cash payment of $2.15 per share and a Contingent Value Right of $0.85 per share on achievement of a commercial milestone. The transaction represents a 41% premium over the closing price of Paratek's common stock as of May 31, 2023. The company warns that without this transaction, it could face bankruptcy.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:30 pm

VSAC

Vision Sensing Acquisition Corp. (VSAC) has paid a fee to extend the period to consummate its initial business combination with Newsight Imaging Ltd. and Newsight MergerSub, Inc. to September 3, 2023. This is the fourth of up to six one-month extensions that the company is authorized to obtain. The combined company's common stock is expected to trade on the Nasdaq Capital Market under the ticker symbol 'NSIM'.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:30 pm

APO

KRP

Kimbell Royalty Partners, LP (NYSE:KRP) has announced a $455 million acquisition of mineral and royalty interests from a private seller. The acquisition is expected to be immediately accretive to distributable cash flow per unit, with estimated acceleration of accretion in 2024 and 2025. The assets are located in the Permian and Mid-Con basins. The acquisition will be funded through a private placement of 6.00% Series A Cumulative Convertible Preferred Units to fund managed by affiliates of Apollo (NYSE:APO) and borrowings under the company's $400 million revolving credit facility.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:29 pm

KRP

Kimbell Royalty Partners, LP (NYSE:KRP) has announced a public offering of 6 million common units, with an option for underwriters to purchase up to 900,000 additional units. The proceeds will be used to repay outstanding borrowings under its revolving credit facility. The announcement comes in connection with Kimbell's pending acquisition of oil and natural gas mineral and royalty interests. Citigroup and BofA Securities are acting as lead book-running managers for the offering.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:29 pm

WTT

Wireless Telecom Group, Inc. (WTT) shareholders have approved the acquisition by Maury Microwave Inc. The merger is expected to close on August 4, 2023, with Maury acquiring all outstanding shares of WTT for $2.13 per share. Following the merger, WTT's shares will no longer be listed on any public exchange.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:27 pm