Streetbeat News

Acquisitions Mergers

PEGY

Pineapple Energy has announced the sale of substantially all assets of its non-core subsidiaries, JDL Technologies and Ecessa, to OneNet Global. The transaction was closed on June 30, 2023. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 11:05 am

AMZN

DISH

SATS

DISH Network Corp's Chair, Charlie Ergen, is considering merging his two telecom businesses, Dish and EchoStar Corp. The companies have engaged advisors for this potential merger. Ergen is also trying to sell some of Dish's non-core assets due to struggles in selling assets and speculation of possible bankruptcy. Talks with Amazon about providing Prime customers with spectrum failed.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 10:57 am

SOPA

NextGen Retail Inc, the online retail subsidiary of Society Pass Incorporated (NASDAQ:SOPA), has announced plans to acquire 95% of PT Inetindo Info, a subsidiary of Story-I Limited (ASX: SRY). Inetindo is a leading Indonesia-based Apple Premium Reseller and Authorised Education Partner, as well as an electronic gaming retailer.

Portfolio Pulse from Charles Gross

July 07, 2023 | 10:45 am

DRI

FCPT

Four Corners Property Trust Inc (FCPT) has completed the acquisition of 13 corporate-operated Darden Restaurants Inc (DRI) properties for $79.5 million. The purchase includes 12 Cheddar's Scratch Kitchen properties and 1 Olive Garden property. FCPT may acquire one more Cheddar's Scratch Kitchen property in the near term, which would increase the total transaction size to $85.0 million. Year-to-date, FCPT has acquired 71 properties for $269.1 million. As of March 31, 2023, FCPT had around $392 million of available liquidity.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 9:53 am

KKR

Global investment firm KKR has agreed to acquire a majority interest in PangeaCo and the fiber optic networks of Telefónica del Perú and Entel Perú. KKR plans to invest an additional $200 million to expand the digital infrastructure, aiming to double the network to at least 5.2 million homes across Perú by 2026. KKR will own a 54% controlling interest in Perú's first independent open access wholesale fiber optic network, with 36% owned by Telefónica Hispanoamérica and 10% owned by Entel Perú.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 6:05 am

FCPT

Four Corners Property Trust (FCPT) has acquired 13 properties from Darden Restaurants for $79.5 million. This brings FCPT's year-to-date acquisition volume to $269.1 million.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 5:00 am

CRON

Cronos Group Inc. has confirmed that it has received several unsolicited indications of interest from third parties. The company is in the initial stages of reviewing these indications, and there is no assurance that any agreement or transaction will result from this.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 9:29 pm

ABBV

AbbVie Inc has acquired IPR&D and Milestones Expense, which is expected to have an unfavorable impact of $0.15 to both share and adjusted share in Q2.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:25 pm

AAIC

AJX

EFC

Ellington Financial Inc. (EFC) has acquired two mortgage REITs, Arlington Asset Investment Corp. (AAIC) and Great Ajax Corp. (AJX), within two months. The acquisitions are seen as risky due to the poor performance of both AAIC and AJX in recent years. However, analysts have been bullish on EFC recently, with upgrades and maintained price targets from Keefe, Bruyette & Woods Inc. and JMP Securities.

Portfolio Pulse from Ethan Roberts

July 06, 2023 | 8:22 pm

DUET

DUET Acquisition Corp. (NASDAQ:DUET) has signed a binding letter of intent to acquire Fenix 360 Pte Ltd, a global social media company. The total consideration for the acquisition will be $600,000,000. The acquisition is expected to transform the creative & media space and tap into digital advertising and digital commerce market opportunities.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:11 pm