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Acquisitions Mergers

BX

EQR

LBO

PSP

Blackstone Inc. (NYSE:BX) has sold an apartment portfolio worth $964 million to Equity Residential (NYSE:EQR). The portfolio includes properties in Atlanta, Dallas/Ft. Worth, and Denver. The transaction is expected to close in Q3 2024. Additionally, Blackstone has agreed to a majority investment in Westwood Professional Services, Inc. Investors can gain exposure to BX stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO) and Invesco Global Listed Private Equity ETF (NYSE:PSP).

Portfolio Pulse from Lekha Gupta

August 07, 2024 | 4:12 pm

GTHX

PETQ

STEM

TLIS

UPST

XPON

U.S. stocks traded higher with significant gains in the Nasdaq Composite, Dow, and S&P 500. Energy shares climbed by 2% following a larger-than-expected decline in U.S. crude oil inventories. Upstart Holdings, G1 Therapeutics, and PetIQ saw substantial stock price increases due to positive financial results and acquisition news. Conversely, Stem, Expion360, and Talis Biomedical experienced significant declines due to mixed financial results, public offering pricing, and potential bankruptcy proceedings.

Portfolio Pulse from Avi Kapoor

August 07, 2024 | 4:03 pm

C

GOOG

GOOGL

RHHBY

Roche Holding AG is considering selling Flatiron Health, a cancer data specialist it acquired in 2018 for $1.9 billion. The move highlights the challenges large pharmaceutical companies face when investing in early-stage health tech firms. Flatiron's association with Roche has deterred some rival drugmakers, impacting its sales. Roche is working with Citigroup to explore strategic options for Flatiron, including a potential divestiture or partial sale.

Portfolio Pulse from Vandana Singh

August 07, 2024 | 3:25 pm

ARES

H

Ares Management Corporation (ARES) is nearing a $1 billion deal to acquire the Hyatt Regency Orlando, according to Bloomberg. This acquisition could significantly impact Ares' portfolio and the hospitality sector.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 3:12 pm

CLMB

Climb Global Solutions has acquired Douglas Stewart Software & Services for $20.3 million. This acquisition is expected to enhance Climb Global Solutions' presence in North America and expand its product portfolio. Douglas Stewart Software & Services reported an adjusted EBITDA of $5.3 million, which is a 10% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 3:01 pm

DIS

Disney announced a $1.5 billion equity stake in Epic Games on February 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 2:01 pm

DIS

Disney announced that it may need to pay an additional $5 billion to acquire a larger stake in Hulu. This information was disclosed during a conference call.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 1:16 pm

BX

EQR

Equity Residential is set to acquire 11 apartment properties from Blackstone for $964 million. The transactions are expected to close in Q3 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 1:05 pm

FLYW

Flywire shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results and cut its FY24 revenue guidance. The company also announced it acquired Invoiced.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:51 pm

GTHX

G1 Therapeutics shares are trading higher following the announcement that the company will be acquired by Pharmacosmos Group in an all-cash transaction valued at $405 million.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:28 pm