Streetbeat News

Acquisitions Mergers

CASY

Casey's General Stores will not update its FY25 outlook until after the Fikes deal closes, except for store growth, now expected at ~270 units. The company anticipates an EBITDA increase of at least 8%, inside same-store sales growth of 3% to 5%, and stable inside margins. Same-store fuel gallons sold are expected to range from -1% to +1%. Operating expenses are projected to rise by 6% to 8%, with net interest expense at $56 million, depreciation and amortization at $390 million, and property and equipment purchases at $575 million.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 9:07 pm

MODG

Topgolf Callaway Brands Corp (NYSE:MODG) plans to split into two separate companies, separating its Callaway and Topgolf businesses. The spin-off aims to enhance strategic focus and value creation for shareholders. The transaction is intended to be tax-free.

Portfolio Pulse from Adam Eckert

September 04, 2024 | 9:03 pm

LAKE

Lakeland Industries reaffirms its FY25 revenue guidance of $160M-$170M, including recent acquisitions. The company expects adjusted EBITDA of $18M-$21.5M, excluding FX impacts. Lakeland is optimistic about growth in the fire and industrial sectors, driven by acquisitions and sales strategy improvements.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:48 pm

FTV

Fortive announced the retirement of CEO James Lico and CFO Chuck E. McLaughlin, with Olumide Soroye and Tami Newcombe taking on new leadership roles. The company plans to use 75% of its free cash flow for share repurchases ahead of a spin-off expected in Q4 2025.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:36 pm

FTV

Fortive Corporation announced plans to separate into two independent public companies by spinning off its Precision Technologies segment in a tax-free manner. This strategic move aims to enhance focus and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:32 pm

RLGT

Radiant Logistics has acquired Foundation Logistics & Services to enhance its capabilities in the oil and gas industry. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:29 pm

FLYX

SOAR

Volato has entered a strategic agreement with flyExclusive to manage fleet operations, aiming to reduce costs and focus on growth in aircraft sales and software. There are also potential merger discussions ongoing.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:27 pm

PFGC

Performance Food Group (PFGC) has announced the pricing of a $1 billion offering of 6.125% senior notes due 2032. The proceeds will be used to fund the acquisition of Cheney Brothers and related costs. The closing of this transaction is expected on September 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:25 pm

MODG

Topgolf Callaway Brands plans to separate into two independent companies: Callaway, focusing on golf equipment and active lifestyle, and Topgolf, a venue-based golf entertainment business. The spin-off is expected to be tax-free for shareholders.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:21 pm

CSWI

CSW Industrials has announced a public offering of 1 million shares of common stock, with an option for underwriters to purchase an additional 150,000 shares. The proceeds will be used for debt repayment and general corporate purposes, including potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 8:20 pm