Streetbeat News

Acquisitions Mergers

GEVO

Gevo, Inc. (NASDAQ:GEVO) has announced a $210 million acquisition of ethanol production and carbon capture and sequestration (CCS) assets from Red Trail Energy. This move is expected to enhance Gevo's capabilities in producing sustainable aviation fuel and achieving net-zero emissions. The acquisition is anticipated to close by Q1 2025, pending approvals, and aims to boost shareholder value and achieve positive Adjusted EBITDA by 2025.

Portfolio Pulse from Lekha Gupta

September 12, 2024 | 5:40 pm

MUFG

Mitsubishi UFJ Financial Group (MUFG) has decided to pause its talks on acquiring a stake in HDB Financial Services, a nonbank financial company under India's HDFC Bank, due to a failure to agree on deal terms. MUFG had proposed an investment of $1.4 billion to $2.1 billion for a 20% stake.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 5:09 pm

GEVO

Gevo, Inc. (NASDAQ:GEVO) shares surged after announcing the acquisition of Red Trail Energy's ethanol production plant and carbon capture assets for $210 million. This move enhances Gevo's sustainable aviation fuel production and renewable energy projects, aiming for net-zero hydrocarbon fuels. The acquisition is expected to boost Gevo's financial performance, with positive Adjusted EBITDA forecasted for 2025.

Portfolio Pulse from Vaishali Prayag

September 12, 2024 | 4:09 pm

HITI

High Tide Inc. (NASDAQ:HITI) is expanding its product offerings in its Canna Cabana stores across several Canadian provinces with exclusive Queen of Bud branded products. This follows High Tide's acquisition of the Queen of Bud brand and Alberta's decision to allow white-label cannabis products. The company is also entering the cannabis hospitality sector through a joint venture.

Portfolio Pulse from Jelena Martinovic

September 12, 2024 | 4:06 pm

X

The proposed $15 billion acquisition of U.S. Steel by Japan's Nippon Steel is likely to be blocked by the U.S. government due to national security concerns. This decision is supported by both Kamala Harris and Donald Trump.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 3:29 pm

FTXG

GIS

PBJ

General Mills is selling its North American yogurt business to Lactalis and Sodiaal for $2.1 billion, citing competition and market challenges. The deal is expected to be completed by 2025 and may dilute earnings. Proceeds will be used for share repurchases.

Portfolio Pulse from Nabaparna Bhattacharya

September 12, 2024 | 3:23 pm

GM

TTDKY

General Motors (GM) is in discussions to purchase batteries produced in the U.S. by Japan's TDK, using Chinese technology. This move could enhance GM's supply chain and battery technology capabilities.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 3:21 pm

MPW

Medical Properties Trust (MPW) shares surged after announcing a global settlement with Steward Health Care, restoring control over 23 hospitals and transitioning 15 to new operators. The company expects $160 million in annual rent from new leases by Q4 2026.

Portfolio Pulse from Lekha Gupta

September 12, 2024 | 3:18 pm

BTSG

BrightSpring Health Services has acquired Haven Hospice, a Florida-based hospice care provider, and Attic Resale Stores. The acquisition aims to expand BrightSpring's services in home and community-based health care.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 3:18 pm

GOOGL

Bounti has secured $16 million in seed funding, with Google Ventures leading the round. Other participants include Floodgate, Bloomberg Beta, Haystack, Octave Ventures, and MS&AD.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 3:16 pm