Streetbeat News

Acquisitions Mergers

PRTH

Priority Technology Holdings (NASDAQ: PRTH) has entered into a stalking horse agreement to acquire substantially all assets of Plastiq, Inc. and certain affiliates in its Chapter 11 Restructuring. The acquisition is subject to Bankruptcy Court approval and aims to enhance Priority's B2B embedded finance solutions.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 3:32 pm

TRNO

Terreno Realty Corporation (NYSE:TRNO) has acquired a 33,000 sq ft industrial property in Washington, D.C., for $13.4 million. The property is 100% leased with an estimated stabilized cap rate of 5.3%. TRNO shares are trading lower by 1.41% at $59.59.

Portfolio Pulse from Akanksha Bakshi

May 24, 2023 | 3:27 pm

EXPR

WMT

Express, Inc. reported a 15% YoY decline in Q1 FY23 sales to $383.3 million, missing the consensus of $389.43 million. The company completed the joint acquisition of Bonobos with WHP Global from Walmart Inc., which is expected to benefit its operating income and free cash flow in FY23.

Portfolio Pulse from Akanksha Bakshi

May 24, 2023 | 3:21 pm

BX

HI

Hillenbrand Inc (NYSE:HI) has agreed to acquire Schenck Process Food and Performance Materials (FPM) business, a portfolio company of Blackstone Inc (NYSE:BX), for $730 million. The deal is expected to close in Hillenbrand's fiscal Q4 2023 and expand its North American footprint.

Portfolio Pulse from Shivani Kumaresan

May 24, 2023 | 3:01 pm

FCNCA

SIVBQ

First Citizens Bancshares laid off nearly 500 Silicon Valley Bank employees, primarily in the commercial banking business, following its acquisition of the failed lender. The layoffs represent around 3% of First Citizens' total workforce.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:44 pm

GE

The French competition watchdog has approved EDF's purchase of GE Steam Power, a subsidiary of General Electric (GE).

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:40 pm

PYXS

Pyxis Oncology announced it will acquire Apexigen for an implied value of $0.64 per share, causing Pyxis shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2023 | 2:38 pm

MEOA

Minority Equality Opportunities Acquisition Inc. (MEOA) has postponed its special meeting of shareholders to May 26, 2023, to vote on the proposed business combination with Digerati Technologies and MEOA Merger Sub. Preliminary reports indicate that 728,815 public shares have been requested for redemption, leaving 52,013 public shares outstanding after the closing of the Business Combination.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:18 pm

TRNO

Terreno Realty Corporation has acquired a property in Washington, D.C. for $13.4 million.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2023 | 1:22 pm

PACW

PacWest Bancorp has sold its Civic Financial Services unit to Roc360, a real estate lending firm. The deal closed on Tuesday, but the terms were not disclosed. This comes after PacWest's announcement in January to restructure Civic to improve profitability and risk profile.

Portfolio Pulse from Vandana Singh

May 24, 2023 | 1:20 pm