Streetbeat News

Acquisitions Mergers

OPFI

OppFi has acquired a 35% equity interest in Bitty, with an option to acquire an additional 30% over time. Bitty, led by Craig Hecker, is a profitable platform providing credit to underserved small businesses. The transaction is expected to be immediately accretive to OppFi's earnings.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:19 pm

LILA

TIGO

Liberty Latin America and its minority partner in Costa Rica will hold an approximately 86% interest, while Millicom will hold 14% in the joint operations under the terms of an all-stock agreement.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:06 pm

LILA

Liberty Latin America and Millicom have agreed to combine their operations in Costa Rica.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:03 pm

LAD

Lithia Motors (NYSE:LAD) exceeded Q2 earnings expectations with an EPS of $7.87, beating the consensus of $7.03. However, revenues fell short at $9.23 billion, missing the $9.33 billion projection. Net income dropped 29% year-over-year. The company rebalanced capital allocation towards shareholder returns and expanded its network. Lithia Motors approved a dividend of 53 cents per share and repurchased 793,000 shares. Adam Chamberlain was promoted to COO.

Portfolio Pulse from Nabaparna Bhattacharya

August 01, 2024 | 12:55 pm

COP

IEO

WEEI

ConocoPhillips (NYSE:COP) reported mixed Q2 2024 results with revenue and adjusted EPS missing consensus estimates. Despite this, the company saw production gains and increased its dividend. The stock is trading higher premarket. Investors can also gain exposure through ETFs like WEEI and IEO.

Portfolio Pulse from Lekha Gupta

August 01, 2024 | 12:45 pm

ACGL

Arch Insurance North America, a part of Arch Capital Group Ltd. (NASDAQ:ACGL), has completed the acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. This acquisition, initially announced on April 5, enhances Arch Insurance's middle market offerings. Nearly 500 former Allianz employees have joined Arch to ensure continuity for clients and brokers.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:34 pm

DK

FEMSA is set to acquire Delek US Retail for $385 million in cash, including inventory purchase. The transaction is expected to close in late Q3 or Q4 of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:33 pm

RCM

R1 RCM shares are trading higher after the company agreed to be acquired by investment funds affiliated with Towerbrook and CD&R.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:24 pm

OB

Outbrain is set to acquire Teads in a transaction valued at approximately $1 billion. The deal includes $725 million in upfront cash, $25 million in deferred cash, 35 million shares of Outbrain stock, and $105 million in convertible preferred equity. The combined companies are expected to generate an ex-TAC gross profit of $660 million to $680 million.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:10 pm

ME

23andMe has received a preliminary non-binding proposal from CEO Anne Wojcicki to acquire all outstanding shares not owned by her or her affiliates for $0.40 per share. A special committee is reviewing the proposal with Wells Fargo as the financial advisor and Dechert LLP as the legal advisor.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:02 pm