Streetbeat News

Acquisitions Mergers

BLD

TopBuild has entered into an agreement to acquire all assets of Best Insulation. The latter generated approximately $100 million in revenue for the trailing twelve months ending April 30, 2023. The transaction is expected to close within seven business days.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:48 am

REI

Ring Energy, Inc. (NYSE:REI) has announced an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV, LLC for $75 million. The assets are located in the Permian Basin in Ector County, Texas. The transaction will be funded with cash on hand and borrowings under Ring's senior revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:48 am

OMC

Omnicom Group Inc's media services division, Omnicom Media Group, has acquired Ptarmigan Media, a specialist agency offering media and marketing solutions to financial services brands. The terms of the deal were not disclosed. Ptarmigan Media will continue to operate as an independent brand within Omnicom Media Group. Last month, Omnicom also acquired Grabarz & Partner to expand its presence in Germany.

Portfolio Pulse from Lekha Gupta

July 11, 2023 | 10:43 am

CHH

Choice Hotels has announced that the integration of Radisson Hotels Americas has delivered meaningful synergies ahead of schedule, with more opportunities to come.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:35 am

NVT

nVent Electric has acquired TEXA Industries, an Italy-based provider of industrial cooling applications. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:31 am

RMTI

Rockwell Medical has acquired the hemodialysis concentrates business from Evoqua Water Technologies for $11M upfront cash plus two milestone payments. The deal includes all contracts, intellectual property, FDA 510(k) clearances, and assets related to Evoqua's concentrates business.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 10:02 am

AJRD

LHX

Senator Elizabeth Warren and three other lawmakers have urged the Defense Department to thoroughly review the $4.7 billion deal between L3Harris Technologies and Aerojet Rocketdyne. The lawmakers are concerned about the potential impact on competition and national security.

Portfolio Pulse from Charles Gross

July 11, 2023 | 9:32 am

OMC

Omnicom's Media Services Division has acquired Ptarmigan Media, a specialist agency providing media and marketing solutions to financial services brands. Ptarmigan Media will continue to operate as an independent brand within Omnicom Media Group under its current management team. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 9:05 am

AAPL

INDA

Tata Group is reportedly close to acquiring Wistron's factory in Karnataka, potentially becoming the first Indian iPhone maker. The deal could be valued at over $600 million.

Portfolio Pulse from Charles Gross

July 11, 2023 | 8:56 am

ADPT

DKNG

KTOS

PD

SURF

TSM

Ark Investment Management, led by Cathie Wood, has invested $3.28 million in Taiwan Semiconductor Manufacturing Company Limited (TSM), purchasing 32,896 shares. This comes after TSM reported better-than-expected Q2 sales. Ark also bought shares of PagerDuty, Inc. (PD) and Adaptive Technologies, Inc. (ADPT). Meanwhile, it sold shares of Kratos Defense & Security Solutions, Inc. (KTOS), Surface Oncology, Inc. (SURF), and DraftKings, Inc. (DKNG).

Portfolio Pulse from Shanthi Rexaline

July 11, 2023 | 5:45 am