Streetbeat News

Acquisitions Mergers

BBBYQ

OSTK

Overstock.com Inc (NASDAQ:OSTK) has received approval from a U.S. bankruptcy judge for its $21.5M acquisition of Bed Bath & Beyond Inc's (OTC:BBBYQ) brand name, intellectual property, and ecommerce platform. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, will also conduct a separate auction for its infants and toddlers products chain, Buy Buy Baby.

Portfolio Pulse from Shivani Kumaresan

June 28, 2023 | 10:26 am

WMC

Terra Property Trust, Inc. (TPT) and Western Asset Mortgage Capital Corporation (NYSE:WMC) have announced a definitive merger agreement. The combined REIT is expected to have approximately $1.2 billion in assets and $436 million of adjusted book value. WMC will issue new Class B common stock to TPT stockholders as merger consideration. Post-merger, TPT stockholders are expected to own approximately 76% of the combined company's outstanding common stock, while WMC stockholders are expected to own approximately 24%.

Portfolio Pulse from Charles Gross

June 28, 2023 | 10:14 am

LFUS

Littelfuse, Inc. (NASDAQ:LFUS) has announced a definitive purchase agreement to acquire a 200mm wafer fab in Dortmund, Germany from Elmos Semiconductor SE for approximately €93M. The acquisition is expected to close early in fiscal year 2025. The transaction is not expected to have a material impact on the company's fiscal year 2023 or 2024 financial results.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 10:03 am

CIR

KKR

Arcline has submitted a proposal to acquire CIRCOR for $57.00 per share, representing a 12% premium to the $51.00 per share price in CIRCOR's revised merger agreement with KKR & Co. Inc. The offer represents a total valuation of over $59.00 per share, factoring in over $2.00 per share in value leakage through termination fees agreed with KKR.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 10:02 am

DKNG

DraftKings Inc. (NASDAQ:DKNG) has announced that it will no longer pursue the acquisition of the U.S. business of PointsBet Holdings Ltd.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 7:29 am

FTHWF

PHRRF

PharmaTher Holdings Ltd. has filed a pre-submission facility correspondence for its novel racemic ketamine KETARX to the FDA, aiming for an expedited review. The company expects KETARX approval in Q1 2024 and a U.S. commercial launch in Q2 2024. Meanwhile, mental healthcare treatment provider Stella has acquired Field Trip’s U.S. assets to expand its treatment offerings. The acquisition will allow Stella to assume operations of Field Trip clinics in New York and Washington D.C.

Portfolio Pulse from Lara Goldstein

June 27, 2023 | 10:05 pm

FCPT

Four Corners Property Trust (FCPT) has acquired an Olive Garden property in Indiana for $3.4M. The property is corporate-operated under a long-term, triple net lease with approximately nine years of term remaining. The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:51 pm

ASTC

Astrotech has received a non-binding acquisition proposal from BML Investment at $17.25 per share. The company's board of directors will evaluate the proposal to determine the best course of action for the company and its stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:36 pm

TRSSF

TerrAscend (OTCQX: TRSSF) has announced its acquisition of Hempaid, LLC, a medical marijuana dispensary in Maryland, expanding its footprint to three dispensaries in the state. The acquisition is expected to drive substantial revenue growth and profitability for TerrAscend in Maryland. The transaction is valued at $6.75 million, including $3.0 million in cash. Following the acquisition, TerrAscend's retail footprint will increase to 36 dispensaries nationwide.

Portfolio Pulse from Maureen Meehan

June 27, 2023 | 9:26 pm

MEIP

MEI Pharma has urged its shareholders not to be swayed by the latest press release from Anson and Cable Car. The company's board continues to support the pending transaction with Infinity.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:17 pm