Streetbeat News

Acquisitions Mergers

FIS

WP

Charles Drucker will become the CEO of Worldpay after the closing of the GTCR transaction. FIS may also be mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 10:58 am

FIS

FIS has entered an agreement for GTCR to acquire a majority stake in Worldpay at a valuation of $18.5 billion. FIS will retain 45% ownership in Worldpay, and GTCR has committed to invest up to $1.25 billion in additional growth capital to accelerate Worldpay's growth strategy.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 10:56 am

AJG

Arthur J. Gallagher & Co (AJG) has acquired Norwegian managing general agent Fender Marine AS through its U.K.-based subsidiary, Pen Underwriting. The terms of the deal were not disclosed. Fender Marine, which offers marine hull and protection & indemnity coverages, will become part of Pen Underwriting. This acquisition is part of AJG's recent acquisition spree, which included Bernard Benefits, Bernard Healthcare Financial Planning, and Ken Brown, Inc.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 9:37 am

JBLU

SAVE

JetBlue Airways (NASDAQ:JBLU) plans to cut jobs in New York and Boston due to the termination of its partnership with American Airlines. However, no worker furloughs are planned as the company shifts its focus to its proposed acquisition of Spirit Airlines (NYSE:SAVE). JetBlue will not contest a judge’s ruling against their partnership with American Airlines, instead focusing on its $3.8 billion Spirit deal, which has also been challenged by the Justice Department.

Portfolio Pulse from Benzinga Newsbot

July 06, 2023 | 8:21 am

AJG

Arthur J. Gallagher & Co.'s UK-based subsidiary Pen Underwriting has acquired Norwegian managing general agent Fender Marine AS. Fender specializes in marine hull and protection & indemnity coverages for smaller fleets and specialist working vessels, as well as insurance for yachts and pleasure craft, cargo and subsea equipment. The terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:11 am

FSTR

L.B. Foster Company (NASDAQ:FSTR) has announced the sale of its prestressed concrete railroad tie business to voestalpine Railway Systems Nortrak, LLC. The transaction, which includes all owned inventory and related fixed assets, is expected to generate approximately $3 million in cash proceeds. The sale does not materially impact the company's 2023 financial guidance, with net sales expected to range between $520 million and $550 million.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:33 pm

ETON

Eton Pharmaceuticals has terminated its asset purchase deal with Wellstat Therapeutics Corporation and Wellstat Biologics Corporation. The terms of the termination were not disclosed.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:19 pm

APLE

MAR

Apple Hospitality REIT, Inc. (NYSE:APLE) has acquired the Courtyard by Marriott Cleveland University Circle for $31 million. The hotel, located in a prime educational, medical, and social district, recently underwent a complete renovation. The acquisition is part of Apple Hospitality's strategy to refine, enhance, and grow its portfolio in markets with strong growth trajectories and attractive cost structures. Post-acquisition, Apple Hospitality's portfolio includes 221 hotels across 37 states.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:15 pm

RMD

ResMed has acquired Somnoware, a privately held sleep and respiratory care diagnostics software provider. The financial terms of the deal were not disclosed. ResMed plans to retain all Somnoware staff and integrate its offerings into the ResMed brand and solution ecosystem.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 8:08 pm

CBZ

CBIZ has acquired American Pension Advisors (APA), a full-service retirement plan consulting and administration firm. The acquisition, effective from July 1, 2023, will add 14 employees and approximately $2.9 million in revenue to CBIZ. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 8:03 pm