Streetbeat News

Acquisitions Mergers

ACA

Arcosa has agreed to acquire the construction materials business of Stavola Holding for $1.2 billion in cash. Stavola, founded in 1948, operates in the New York-New Jersey area with multiple quarries, asphalt plants, and recycled aggregates sites. For the last twelve months ending June 30, 2024, Stavola generated $283 million in revenue and $100 million in Adjusted EBITDA. The transaction is expected to create tax benefits for Arcosa with a net present value of approximately $125 million.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:24 pm

RYAN

Ryan Specialty (NYSE:RYAN) has signed a definitive agreement to acquire US Assure Insurance Services, a leading builder's risk insurance program. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:12 pm

RYAN

Ryan Specialty Holdings has updated its full year 2024 outlook, raising its Organic Revenue Growth Rate guidance to 13%-14% from the previous 12.5%-14% and its Adjusted EBITDAC Margin guidance to 32%-32.5% from the previous 31%-31.5%. This update incorporates the US Assure acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:12 pm

VRTX

Vertex Pharmaceuticals has raised its FY24 revenue guidance from $10.55B-$10.75B to $10.65B-$10.85B, citing growth in CF and the launch of CASGEVY®. The company also provided updated guidance on R&D and SG&A expenses, including costs related to the Alpine acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:07 pm

DT

Thoma Bravo has exited its investment in Dynatrace, returning $5.2 billion to its backers in a short period, despite market challenges.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:29 pm

AMZN

CRWD

FTNT

GOOG

IBM

MSFT

OKTA

PANW

ZS

Stephanie Link from Hightower Advisors highlights key growth trends in the cybersecurity industry, including cloud security, regulatory efforts, and generative AI. Major players like IBM, Palo Alto Networks, Alphabet, CrowdStrike, Microsoft, Amazon, Fortinet, Zscaler, and Okta are poised to benefit from these trends.

Portfolio Pulse from Surbhi Jain

August 01, 2024 | 3:58 pm

GNNSF

JNJ

LEGN

Genscript Biotech Corp. (OTC:GNNSF) is considering selling its 48% stake in Legend Biotech (NASDAQ:LEGN) amid potential buyout offers. Legend's core cancer therapy, Carvykti, is expected to peak at $7.3 billion in annual sales. Despite Genscript's strong cash reserves, U.S. policy risks may influence its decision.

Portfolio Pulse from The Bamboo Works

August 01, 2024 | 2:52 pm

ITT

Behrman Capital is set to sell kSARIA Holdings to ITT Inc. in a $475 million transaction. kSARIA is a leading producer of mission-critical connectivity solutions for aerospace and defense markets.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:37 pm

KE

Averna has acquired Global Equipment Services, Inc. (GES) from Kimball Electronics, Inc. (NASDAQ: KE), expanding its footprint in Asia and North America. The acquisition will add 600 new employees across offices in Vietnam, China, India, Japan, and Silicon Valley. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:23 pm

ECL

Ecolab Inc. has sold its global surgical solutions business to Medline for approximately $950 million in cash. The company plans to use part of the proceeds to repurchase up to $500 million of its stock in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:19 pm