Streetbeat News

Acquisitions Mergers

UAL

United Airlines Holdings Inc (NASDAQ:UAL) has invested in Electric Power Systems (EPS), a company that produces battery technology for aerospace applications. The investment is part of United's strategy to use EPS modules in its current ground operations and potentially in an all-electric flight academy in the future. This is United's second investment in electric battery technology, following an investment in sodium-ion battery-maker Natron. EPS aims to provide a complete battery ecosystem for aviation, including aircraft packs and ground charging stations.

Portfolio Pulse from Shivani Kumaresan

July 21, 2023 | 3:25 pm

CCF

KKR

KKR & Co (NYSE:KKR) has announced its plan to acquire Chase (AMEX:CCF) for $1.30 billion in cash. The acquisition is expected to be completed in Q4 of 2023. KKR is one of the world's largest alternative asset managers, while Chase Corp is a specialty chemical company.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 3:10 pm

DWAC

Digital World Acquisition Corp. (DWAC) shares are trading higher after the company announced a settlement with the SEC on fraud charges related to its IPO and proposed merger with Trump Media & Technology Group Corp. (TMTG). As part of the settlement, DWAC agreed to a cease-and-desist order and to pay an $18 million penalty if it closes a merger transaction. The company also committed to ensuring that any amended Form S-4 it files will be accurate and consistent with the SEC's findings.

Portfolio Pulse from Erica Kollmann

July 21, 2023 | 2:16 pm

CEI

Camber Energy Inc (NASDAQ:CEI) shares are trading higher after the company and Viking Energy announced shareholder approval of the merger. The merger is expected to be completed around August 1, subject to meeting closing conditions. After the merger, Camber will have full legal and accounting control of Viking, benefiting from its various business activities.

Portfolio Pulse from Henry Khederian

July 21, 2023 | 2:15 pm

FRTX

Fresh Tracks Therapeutics Inc (FRTX) shares are up by 28.7% after the company announced an $8.25 million buyout of its right to receive future sofpironium bromide payments from Botanix. Under the terms of the APA Amendment, Botanix will pay $8.25 million in cash, $6.60 million of which is payable to the company and the remaining $1.65 million is payable to the company's former licensor.

Portfolio Pulse from Henry Khederian

July 21, 2023 | 2:14 pm

CEI

Camber Energy and Viking Energy have announced that their merger has been approved by shareholders, leading to a rise in Camber Energy's stock.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 1:33 pm

VSTO

Vista Outdoor Inc. (NYSE:VSTO) has appointed Eric Nyman, former COO and president of Hasbro Inc., as CEO of its Outdoor Products segment, effective Aug. 21. Nyman will lead the new Outdoor Products Company following a planned separation later this year. Interim CEO Gary McArthur will focus on the planned separation and become chairman of the board of the new company post-split.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 1:03 pm

LFSWF

Lifeist Wellness Inc. has acquired Zest Cannabis for $3.4 million in an all-stock transaction. The acquisition is expected to bring growth and innovation to CannMart, a subsidiary of Lifeist, through Zest's exceptional cannabis products. The deal was completed under an amended and restated share purchase agreement, with the company acquiring 100% of the issued and outstanding shares of Zest.

Portfolio Pulse from Vuk Zdinjak

July 21, 2023 | 1:02 pm

CHEA

Chenghe Acquisition Co. has entered into a Business Combination Agreement with SEMILUX INTERNATIONAL LTD., SEMILUX LTD., and Taiwan Color Optics, Inc. The merger is expected to close in Q4 of 2023, with SPAC becoming a wholly owned subsidiary of CayCo and changing its name to SEMILUX LTD.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 12:52 pm

CCF

CPNBF

KKR

KKR & Co Inc. has agreed to acquire Chase Corporation for approximately $1.3 billion, including the assumption of debt. The deal values Chase at $127.50 per share in cash, implying a valuation of approximately 13x trailing twelve months EBITDA. After the transaction, Chase will become a privately held company wholly owned by an affiliate of KKR's investment funds and will no longer have its common stock listed on any public market.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 12:51 pm