Streetbeat News

Acquisitions Mergers

BWLP

BW LPG has agreed to acquire 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas for $1.05 billion. The acquisition includes four dual fuel VLGCs built in 2022 and 2023, and eight scrubber-fitted VLGCs built in 2015. The transaction will be funded through the issuance of 19.282 million new BW LPG shares to Avance Gas, a cash consideration of $585.4 million, and a shareholder loan from BW Group.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:25 am

DEC

Diversified Energy Company reported a net income of $16M for the six months ended June 30, inclusive of $98M in tax benefits, and an adjusted EBITDA of $218M. The company maintained flat production volumes since 4Q2023, with a June 2024 exit rate of 855 MMcfepd, including the impact of the Oaktree Acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:14 am

HEI

Heico shares are trading higher after Berkshire Hathaway added a stake in the company.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:13 am

CARR

Carrier has signed a definitive agreement to sell its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion. Carrier plans to use the estimated $2.2 billion in net proceeds from the transaction for share repurchases.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 11:05 am

TPR

Tapestry Inc. (TPR) expects FY25 revenue of $6.7 billion, slightly below the estimated $6.80 billion. The company projects earnings per share (EPS) of $4.45 to $4.50, aligning with the estimated $4.49. The EPS forecast includes a $0.35 negative impact from the suspension of share repurchase activity due to the proposed acquisition of Capri Holdings Limited and a $0.20 currency headwind.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:51 am

ALK

HA

Alaska Air and Hawaiian Airlines have agreed with the Department of Justice to extend the review period of their proposed merger until August 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:29 am

WD

Walker & Dunlop facilitated $128 million in financing for the acquisition of nine properties in Manhattan's East Village neighborhood.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:07 am

AAPL

CB

HEI

OXY

ULTA

Berkshire Hathaway, led by Warren Buffett, has increased its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) and Heico Corp (NYSE:HEI), causing significant pre-market gains for these stocks. Chubb Limited (NYSE:CB) and Occidental Petroleum Corporation (NYSE:OXY) also saw minor pre-market increases. The surge follows Berkshire's disclosure of significant stock sales, including a reduction in Apple Inc. (NASDAQ:AAPL) holdings.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 9:48 am

K

Wallace 'Wally' Amos, founder of Famous Amos and literacy advocate, passed away at 88. Amos lost ownership of Famous Amos but later owned Chip & Cookie in Hawaii and co-founded Uncle Wally’s Muffin Co. Kellogg Company (NYSE:K) sold Famous Amos and other brands to Ferrero Group in 2019 for $1.3 billion.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 1:02 am

RDW

Redwire has signed a definitive agreement to acquire Hera Systems, a privately held company specializing in high-performance spacecraft for national security missions. The acquisition will be financed with Redwire's balance sheet liquidity and is expected to close in the third quarter. Redwire has adjusted its full-year 2024 revenue guidance from $300 million to $310 million.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 9:27 pm