Streetbeat News

Acquisitions Mergers

SGH

SMART Global Holdings (NASDAQ:SGH) is divesting an 81% stake in its Brazil-based unit, SMART Brazil, to Lexar Europe for $166 million in cash. The deal will allow SGH to focus on delivering high-performance solutions to enterprise customers and strengthen its financial position for strategic investments.

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2023 | 12:38 pm

LIVE

Live Ventures subsidiary Flooring Liquidators has acquired assets from Cal Coast Carpet Warehouse and opened a new store in Arroyo Grande, California. The acquisition expands Flooring Liquidators' presence in the region.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:35 pm

BEP

DUK

Duke Energy Corporation (DUK) has agreed to sell its Commercial Renewables business to Brookfield Renewable Partners L.P. (BEP) for $2.8 billion. The deal includes over 3,400 MW of utility-scale solar, wind, and battery storage across the US. Duke Energy will focus on its regulated businesses and plans to incorporate over 30,000 MW of regulated renewable energy by 2035.

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2023 | 12:24 pm

ATVI

MSFT

The U.S. Federal Trade Commission (FTC) has sued to block Microsoft's acquisition of Activision Blizzard, stating that the deal will hurt consumer choice and competition. Microsoft has welcomed the opportunity to present its case in federal court.

Portfolio Pulse from rounakjain@benzinga.com

June 13, 2023 | 12:24 pm

PTEN

Patterson-UTI Energy (PTEN) shares are trading higher after a Wall Street Journal report revealed that the company held merger talks with NexTier Oilfield Solutions.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:16 pm

BG

GLNCY

Bunge Ltd (NYSE: BG) has agreed to acquire Glencore PLC's (OTC: GLNCY) Viterra Limited in a stock and cash transaction worth $6.2 billion in shares and $2 billion in cash. Bunge will also assume $9.8 billion of Viterra debt. The deal is expected to close in mid-2024 and generate annual gross pre-tax operational synergies of around $250 million within three years of completion.

Portfolio Pulse from Lekha Gupta

June 13, 2023 | 11:46 am

PRSR

LeddarTech and Prospector Capital have entered into a definitive business combination agreement, which will result in LeddarTech becoming a publicly listed company on Nasdaq under the ticker symbol 'LDTC' by Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 11:25 am

LAD

Lithia & Driveway has acquired 13 locations from the Priority Automotive Group in Virginia, bringing its total year-to-date expected annualized revenue acquired to over $3.2 billion. The acquisition was financed using existing on-balance sheet capacity and is projected to generate more than $1.2 billion in annualized revenue.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 11:11 am

BEPC

Brookfield Renewable Corp has acquired Duke Energy's utility-scale Commercial Renewables business for $2.8 billion, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 11:04 am

SGH

SMART Global (SGH) has agreed to sell an 81% stake in SMART Modular Technologies do Brasil to Lexar Europe B.V., an affiliate of Shenzhen Longsys Electronics, for approximately $166 million in cash. The deal values 100% of SMART Brazil at an initial enterprise value of $205 million.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 11:02 am