Streetbeat News

Acquisitions Mergers

BTTR

Better Choice Company shares are trading higher after the company formed a special committee to evaluate M&A and asset monetization opportunities.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:19 pm

BTTR

Better Choice Company has formed a special committee to evaluate potential mergers and acquisitions (M&A) and asset monetization opportunities. This strategic move aims to explore ways to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:19 pm

CBSTF

VRNOF

Verano Holdings reported Q2 2024 revenue of $222M, a 0.5% sequential increase but a 5% YoY decline. The net loss widened to $22M. The company announced the acquisition of significant assets from The Cannabist Company, including a Virginia license. Verano is also launching adult use sales in Ohio and sees positive trends in Florida and Pennsylvania. The company authorized a $50M share repurchase program.

Portfolio Pulse from Nina Zdinjak

August 07, 2024 | 12:14 pm

PETQ

PetIQ (PETQ) is set to be acquired by Bansk Group for $31.00 per share in an all-cash transaction valued at $1.5 billion. This acquisition price represents a 41% premium to the 30-day volume-weighted average price and a 51% premium to the closing price on August 6, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:05 pm

CTLT

NVO

Novo Nordisk's CFO announced that the company is in active discussions with antitrust regulators regarding its deal with Catalent. Despite these discussions, Novo Nordisk still expects the deal to close by the end of the year.

Portfolio Pulse from charles@benzinga.com

August 07, 2024 | 11:41 am

GLCNF

TECK

Glencore (OTC:GLCNF) has decided not to spin off its coal business after acquiring Teck's (NYSE:TECK) coal assets. Shareholders preferred retaining the profitable unit, which aligns with ESG policies of major shareholders like BlackRock. Despite a 33% decline in first-half earnings, Glencore remains open to more acquisitions.

Portfolio Pulse from Stjepan Kalinic

August 07, 2024 | 11:34 am

BRKR

Bruker has announced a minority investment in NovAliX, a preclinical contract research organization specializing in drug discovery services. The financial details of the investment were not disclosed. The investment aims to accelerate NovAliX's growth and expansion, particularly in Europe and the United States.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 11:18 am

VERX

Vertex announced the acquisition of Ecosio, a leading B2B integration provider specializing in electronic data interchange and e-invoicing.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 11:12 am

SUN

Sunoco has reaffirmed its FY24 Adjusted EBITDA outlook of $1.46 billion to $1.52 billion. The company expects $50 million in synergies from the NuStar acquisition and $100 million in transaction-related expenses. Growth capital expenditures are projected to exceed $300 million, with maintenance capital expenditures around $120 million.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 11:06 am

CRNT

Ceragon Networks has reiterated its FY24 revenue outlook of $385M-$405M, representing an 11%-17% growth compared to 2023. This includes contributions from the recently acquired Siklu. The company also targets non-GAAP operating margins of at least 10% and expects increased non-GAAP profit and positive free cash flow for 2024.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 11:04 am