Streetbeat News

Acquisitions Mergers

MCRB

Seres Therapeutics shares are trading lower after the company announced it signed an agreement with Nestle for the sale of its VOWST business.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 1:16 pm

BRO

Brown & Brown has acquired CI Group, a trade credit insurance specialist led by founder Mark Toulmin. This acquisition aims to enhance Brown & Brown's E-Bonded platform and expand services for lenders and SMEs.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 1:13 pm

FUL

H.B. Fuller Company (NYSE:FUL) has acquired HS Butyl Limited, the UK's largest manufacturer of butyl tapes. This acquisition aims to strengthen H.B. Fuller's position in the global specialty construction tapes market and create new opportunities in engineering adhesives solutions. The move is part of H.B. Fuller's strategy to achieve an adjusted EBITDA margin of 20% in the next three to five years.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 12:45 pm

CSWI

CSW Industrials, Inc. (NASDAQ:CSWI) has announced the acquisition of PSP Products, Inc. for $40 million. The acquisition is expected to be accretive to earnings per share in the first full year and was funded through cash on hand and borrowings under an existing credit facility.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 12:44 pm

CNTM

ConnectM is set to acquire a controlling interest in DeliveryCircle for up to $5.2 million.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 12:35 pm

CSLR

DJT

SPWR

Complete Solaria received a 'stalking horse' position in the SunPower Chapter 11 bankruptcy, indicating a potential acquisition opportunity. Trump Media & Technology Group (NASDAQ:DJT) launched linear TV streaming on Android devices via the Truth Social app, enhancing user experience with a new content delivery network.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 12:34 pm

LUV

Elliott Investment Management has announced a 7% stake in Southwest Airlines (NYSE:LUV) and is advocating for a management overhaul, including the replacement of CEO Bob Jordan and Executive Chairman Gary Kelly. Elliott's total economic interest in Southwest, including derivatives, is approximately 11%. The firm is pushing for changes to enhance the airline's performance and has hinted at proposing new board candidates.

Portfolio Pulse from Benzinga Neuro

August 06, 2024 | 12:31 pm

AYTU

Aytu BioPharma has announced the sale of its consumer health business. The terms of the sale were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 12:24 pm

CG

The Carlyle Group (NASDAQ:CG) reported disappointing Q2 FY24 results, missing both EPS and revenue estimates. The company also announced the sale of Cogentrix Energy for $3 billion. Following the earnings report, several analysts lowered their price targets for Carlyle, and the stock fell 7.5% to $40.91.

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 12:05 pm

MCRB

Seres Therapeutics has signed an agreement with Société Des Produits Nestlé to sell its VOWST business to Nestlé Health Science. Seres will receive upfront payments, milestone payments, and an equity investment, along with installment payments in 2025 and potential future payments based on VOWST net sales targets. Seres will provide transition and manufacturing support through 2025 and will share 50/50 in the profit and loss of the business through the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:58 am