Streetbeat News

Acquisitions Mergers

DDD

DM

SSYS

3D Systems has announced a target date of August 4, 2023, for the completion of due diligence and merger agreement discussions with Stratasys. Upon conclusion, 3D Systems expects Stratasys to terminate their agreement with Desktop Metal, with 3D Systems paying the termination fee.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:05 pm

FINW

FinWise Bancorp has announced that it has acquired an additional 10% ownership stake in Business Funding Group.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:57 pm

TRP

TC Energy's board has approved plans to split into two independent, publicly listed companies through the spinoff of its Liquids Pipelines business. The decision follows a two-year strategic review and is expected to be completed tax-free in the second half of 2024. The new Liquids Pipelines Company will be led by Bevin Wirzba.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:54 pm

BLD

TopBuild Corp. (NYSE:BLD) has announced plans to acquire Specialty Products & Insulation (SPI) in an all-cash transaction valued at $960 million. SPI, a portfolio company of Incline Equity Partners, is a leading distributor and custom fabricator of mechanical insulation and a specialty distributor of building insulation. The acquisition is expected to expand TopBuild's specialty distribution footprint, enhance fabrication capabilities, and grow recurring revenue streams. The transaction is expected to result in $35M to $40M of run-rate cost synergies.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:48 pm

DLR

Digital Realty and TPG have entered a joint venture of hyperscale data centers in Northern Virginia. TPG Real Estate has acquired an 80% stake in the $1.5 billion portfolio, while Digital Realty will maintain a minority interest and continue to manage the day-to-day operations.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:47 pm

ASRT

Assertio Holdings has announced a favorable vote on its proposed acquisition of Spectrum Pharmaceuticals. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:40 pm

GRIN

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) has announced a series of transactions including the purchase of two bulk carriers, the sale of two others, and the extension of charter contracts for three vessels. The company also exercised the purchase option on a chartered-in bulk carrier. The transactions were approved by the board and are consistent with independent broker valuations.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:30 pm

EFC

EXR

GNL

MITT

OPI

WMC

The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).

Portfolio Pulse from Ethan Roberts

July 27, 2023 | 8:15 pm

TFX

Stephens analyst George Sellers has reiterated an Overweight rating on Teleflex Incorporated (NYSE:TFX), raising the price target to $315 from $305. The analyst praised Teleflex's strong market position in the interventional urology specialty and expects the company to successfully grab a share in the rectal spacer market. Teleflex's recent acquisition of Palette Life Sciences for $600 million is expected to bolster its growth profile. However, TFX shares are currently trading lower by 2.25%.

Portfolio Pulse from Nabaparna Bhattacharya

July 27, 2023 | 7:29 pm

CTCX

Carmell Therapeutics has announced a merger with Axoloti Biologix, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:26 pm