Streetbeat News

Acquisitions Mergers

CSL

Carlisle Companies (CSL) has agreed to sell its Carlisle Fluid Technologies division to an affiliate of Lone Star Funds for $520 million. The transaction is subject to closing adjustments and conditions, including regulatory clearances, and is expected to close in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 11:17 am

UL

Unilever has agreed to acquire Yasso Holdings, a premium frozen Greek yogurt brand in the US. The acquisition is in line with Unilever's premiumization strategy for its ice cream business group. The financial terms were not disclosed, and the transaction is expected to close in Q3 2023.

Portfolio Pulse from Shivani Kumaresan

June 15, 2023 | 10:47 am

ZNTL

Zentalis Pharmaceuticals has terminated its Collaboration and License Agreements with Zentera Therapeutics, regaining worldwide development and commercialization rights to azenosertib, ZN-d5, and ZN-c5 in Greater China. Zentalis will pay Zentera $30 million upfront, a milestone payment, and a low single-digit royalty on net sales.

Portfolio Pulse from Charles Gross

June 15, 2023 | 10:28 am

NEX

PTEN

Patterson-UTI Energy and NexTier Oilfield Solutions have entered a definitive merger agreement in an all-stock merger of equals transaction, creating a combined company with an enterprise value of $5.4 billion. Upon closing, Patterson-UTI shareholders will own 55% and NexTier shareholders will own 45% of the combined company, which will operate under the name Patterson-UTI Energy, Inc. and trade under the ticker symbol PTEN.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 10:03 am

UL

Unilever has entered into an agreement to acquire Yasso Holdings, Inc., a premium frozen Greek yogurt brand in the United States. The terms of the deal have not been disclosed.

Portfolio Pulse from Charles Gross

June 14, 2023 | 11:40 pm

FCPT

Four Corners Property Trust (FCPT) has acquired a newly constructed Fast Pace Health property in Louisiana for $2.1 million. The property is occupied under a long-term net lease and the transaction was priced at a cap rate in range with previous FCPT transactions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 10:00 pm

MSFT

Matt Booty, head of Xbox Game Studios, acknowledged Xbox's past struggles and slow game release schedule due to unfinished projects and DLC obligations from acquired studios. However, he expressed optimism about Xbox's future after the Xbox Game Showcase and assured that Microsoft's video game brand has 'turned the corner'.

Portfolio Pulse from Franca Quarneti

June 14, 2023 | 8:21 pm

ERES

East Resources Acquisition Company (ERES) has announced a stockholder meeting on June 29, 2023, to approve the proposed business combination with Longevity Market Assets and Abacus Settlements. Upon closing, the combined company will be named Abacus Life, Inc. and listed on NASDAQ under the ticker symbol ABL.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 8:10 pm

ACAD

Acadia Pharmaceuticals announced the addition of ACP-101, a Phase 3 development candidate for hyperphagia in Prader-Willi syndrome, to its rare disease portfolio. The company acquired worldwide rights to ACP-101 by acquiring Levo Therapeutics in June 2022. Analysts believe ACP-101 has a strong strategic fit and adds upside optionality for Acadia's future revenue growth.

Portfolio Pulse from Vandana Singh

June 14, 2023 | 6:59 pm

AIN

Albany International Corp (NYSE:AIN) has agreed to acquire Heimbach Group for €153 million in cash, including €21 million net debt. Heimbach is a global supplier of paper machine clothing with nine production facilities across multiple countries. The acquisition is expected to be accretive to Albany's earnings per share and cash flow beginning in year two and close in the second half of 2023.

Portfolio Pulse from Akanksha Bakshi

June 14, 2023 | 4:20 pm