Streetbeat News

Acquisitions Mergers

APO

BP

BP has sold a non-controlling stake in its subsidiary, BP Pipelines TAP Limited, to Apollo Global Management for $1 billion. This move helps BP towards its divestment goal and maintains its control over the pipeline. The deal is expected to close in Q4 2024.

Portfolio Pulse from Lekha Gupta

September 16, 2024 | 12:19 pm

CHUY

DRI

Darden Restaurants, Inc. (NYSE:DRI) is set to release its fiscal 2025 Q1 earnings on September 19, with expected earnings of $1.84 per share and revenue of $2.8 billion. Analysts have recently adjusted their ratings and price targets for DRI, with a mix of Hold, Buy, and Outperform ratings. Darden's recent acquisition of Chuy's Holdings is also noted.

Portfolio Pulse from Avi Kapoor

September 16, 2024 | 12:14 pm

CACI

CACI International Inc. has announced its plan to acquire Azure Summit Technology for $1.275 billion in cash. The acquisition is expected to close in the second quarter of fiscal year 2025.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 12:11 pm

VUZI

Vuzix has completed the first investment tranche, selling $10 million in common stock to Quanta Computer under a purchase agreement. This move is part of a strategic partnership between the two companies.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 12:03 pm

AA

Alcoa's stock is rising following its agreement to sell a 25.1% joint venture stake in Ma'aden for $1.1 billion, which includes $950 million in Ma'aden shares.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 11:54 am

SBT

Sterling Bancorp has announced the sale of Sterling Bank and Trust, F.S.B. to EverBank Financial for $261 million. Following the sale, Sterling Bancorp plans to dissolve, distributing proceeds to shareholders in two stages.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 11:53 am

LH

OPK

Labcorp has completed the acquisition of select assets from Opko Health's BioReference Health for $237.5 million. The acquisition includes laboratory testing businesses focused on clinical diagnostics and reproductive and women's health, generating approximately $100 million in annual revenue.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 11:38 am

PLL

Piedmont Lithium has received an environmental permit from Ghana's EPA for the Ewoyaa Lithium Project, developed in partnership with Atlantic Lithium. Piedmont has also increased its stake in the project, aiming for a 50% equity interest.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:53 am

ARES

Ares Management Corporation has closed its largest U.S. real estate fund, raising $3.3 billion for opportunistic investments. This fund, AREOF IV, focuses on distressed assets and special situations, marking a significant increase from its predecessor.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:35 am

CACI

CACI International Inc is set to announce a new acquisition during a conference call on September 16. The company's executives will provide details and answer questions about the acquisition.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:32 am