Streetbeat News

Acquisitions Mergers

GPI

Group 1 Automotive has acquired Beck & Masten Kia, a dealership located in the Houston metropolitan area. The acquisition expands Group 1's footprint to 15 brands and 18 dealerships in the Houston market. The dealership is expected to generate $85 million in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $1.0 billion.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 9:22 pm

WRB

W. R. Berkley Corporation has completed the sale of its Property and Casualty Insurance Services Division of Breckenridge IS, Inc. The company will recognize an estimated pre-tax net realized gain of $86 million in Q2 2023.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:49 pm

DDD

SSYS

Stratasys has received an unsolicited proposal from 3D Systems for $7.50/share and 1.2507 newly issued shares of common stock.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:35 pm

CC

The Chemours Company has agreed to sell its glycolic acid business to Iron Path Capital-backed PureTech Scientific Inc. for $137 million.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:33 pm

JBLU

SAVE

ULCC

JetBlue plans to divest its holdings of Spirit Airlines at LaGuardia Airport to Frontier as part of its planned merger with Spirit.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:31 pm

BRDG

Bridge Investment Group's subsidiary, Bridge Net Lease, has acquired manufacturing and distribution assets in Pennsylvania. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 8:28 pm

MEIP

Anson Funds criticized the board of MEIP for outright rejecting their acquisition proposal without engaging in any discussions, stating it as a derogation of fiduciary duties to the company's stockholders.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 8:27 pm

MEIP

Anson Funds and Cable Car Capital, which together own 14.8% of MEI Pharma, have had their acquisition proposal to acquire all outstanding shares of MEIP for $8/share rejected by the company's board of directors.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 8:26 pm

REUN

Reunion Neuroscience (NASDAQ:REUN) has entered into a definitive arrangement with investment firm MPM BioImpact for an all-cash acquisition valued at approximately $13.1 million. Shareholders will receive $1.12 per share, a 43.1% premium over the trailing 30-trading-day volume weighted average price. The deal is expected to close in Q3 2023.

Portfolio Pulse from Lara Goldstein

June 01, 2023 | 8:22 pm

SVC

Service Properties Trust (NASDAQ:SVC) has acquired the Nautilus Hotel in South Beach Miami for $165.4 million. The hotel will be rebranded as Nautilus Sonesta Miami Beach and undergo a $25 million repositioning in 2024, reopening in early 2025 under Sonesta's lifestyle brand, The James.

Portfolio Pulse from Happy Mohamed

June 01, 2023 | 8:22 pm