Streetbeat News

Acquisitions Mergers

MGRC

McGrath RentCorp has acquired the assets of Inland Leasing and Storage, a Colorado-based container rental company. The acquisition, funded by McGrath's revolving credit facility, adds approximately 600 assets to McGrath's portable storage operations in Colorado.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:02 pm

CRON

CURLF

MO

Cronos Group Inc (NASDAQ: CRON), a Canadian cannabis producer backed by Altria Group Inc. (NYSE: MO), is reportedly considering a potential sale after attracting acquisition interest. The company, which has a market value of $727.54 million, is working with a financial adviser to handle expressions of interest from other companies, including Curaleaf Holdings Inc (OTCQX: CURLF). The discussions are confidential and no transaction is certain. Cronos' shares have lost a quarter of their value year-to-date.

Portfolio Pulse from Maureen Meehan

July 06, 2023 | 7:54 pm

DOCN

DigitalOcean Holdings, Inc. (NYSE:DOCN) has acquired PaperSpace for $111 million in cash. This acquisition will allow DigitalOcean customers to leverage GPUs alongside their CPU workloads, particularly for AI/ML applications. The company's shares were up 11.6% at $44.39 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 06, 2023 | 7:54 pm

DOCN

DigitalOcean has announced the acquisition of Paperspace for $111 million, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:48 pm

CRON

Cronos Group is reportedly exploring a sale due to acquisition interest, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 6:52 pm

CRON

Cronos Group is reportedly exploring a sale due to acquisition interest, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 6:48 pm

AEL

BAM

BNRE

RBC Capital Markets analyst Scott Heleniak has downgraded American Equity Investment Life Holding Co (AEL) to Sector Perform from Outperform, increasing the price target to $55 from $50. This follows AEL's acceptance of Brookfield Reinsurance Ltd's (BNRE) acquisition offer of approximately $4.3 billion. AEL shareholders will receive $55.00 per share, consisting of $38.85 in cash and 0.49707 of Brookfield Asset Management Ltd. (BAM) shares. The analyst does not foresee any regulatory hurdles and does not expect a higher bidder.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 5:57 pm

CS

UBS

UBS has taken over Credit Suisse's shipping finance business and combined it with its own aircraft financing business, according to a memo cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:39 pm

AMZN

IRBT

EU antitrust regulators have launched a full-scale investigation into Amazon's proposed $1.7 billion acquisition of iRobot, citing potential restrictions on competition in the robot vacuum cleaner market.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:38 pm

ALPMF

ALPMY

ISEE

Iveric Bio Inc's board of directors has approved a merger proposal with Astellas Pharma at a special meeting held on July 6.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:07 pm