Streetbeat News

Acquisitions Mergers

MRK

Merck has revised its 2024 adjusted EPS guidance to $7.94-$8.04, down from the previous $8.53-$8.65 and below the consensus of $8.16. This revision includes one-time charges totaling $0.77 per share for the Harpoon and Eyebio acquisitions.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 10:35 am

ALK

HA

Alaska Airlines and Hawaiian Airlines have agreed with the Department of Justice (DoJ) to extend the review period for their merger until August 15, 2024. This extension follows their substantial compliance with the DoJ's request for additional information.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 10:18 am

PH

SK Capital Partners has acquired the North America Composites & Fuel Containment Division from Parker Hannifin for $350 million in annual sales.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 10:15 am

VSTO

Vista Outdoor is reviewing strategic alternatives, including a potential sale of Revelyst, engagement with MNC Capital for a possible acquisition, and a spin-off of Revelyst and The Kinetic Group. The special meeting for the CSG transaction is adjourned to September 13, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 10:04 am

BHP

CRIT

FLMMF

HAP

LUNMF

BHP Group Limited (NYSE:BHP) and Lundin Mining Corp. (OTC:LUNMF) have agreed to jointly acquire Filo Corp. (OTC:FLMMF) for C$4.1 billion. The acquisition includes a 32.2% premium over Filo's 30-day volume-weighted average price. BHP's shares are trading lower following the announcement. The deal is expected to close in Q1 2025, pending conditions.

Portfolio Pulse from Lekha Gupta

July 30, 2024 | 9:57 am

BHP

FLMMF

LUNMF

BHP and Lundin Mining are set to acquire Filo Corp for C$4.5 billion, offering C$33 per share in cash and Lundin Mining shares or a mix of both. The acquisition aims to develop Filo del Sol to its full potential, backed by two leading copper miners. Filo also announces a C$115 million private placement to BHP and Lundin Mining.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 7:28 am

CHRW

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) has sold its European Surface Transportation business to sennder Technologies GmbH. The financial terms of the deal were not disclosed. This move aligns with C.H. Robinson's strategy to focus on profitable growth in its core modes: North American truckload and less-than-truckload, and global ocean and air.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 7:06 am

CBSTF

VRNOF

Verano Holdings Corp. (OTCQX:VRNOF) announced a $105 million deal to acquire significant assets from The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTC:CBSTF) (FSE: 3LP), including operations in Virginia and Arizona. This acquisition will expand Verano's footprint to 14 states with 15 cultivation sites and 150 dispensaries.

Portfolio Pulse from Patricio Liddle

July 29, 2024 | 10:53 pm

PH

Parker Hannifin Corporation (NYSE:PH) has signed an agreement to divest its North America Composites and Fuel Containment (CFC) Division to SK Capital Partners. This divestment is part of a broader strategy, with Parker having divested businesses totaling nearly $450 million in annual sales over the past three years. The transaction is subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:59 pm

GABC

HLAN

German American Bancorp (NASDAQ:GABC) and Heartland BancCorp (OTCQX:HLAN) have announced a definitive merger agreement. The all-stock transaction is expected to close in Q1 of 2025, with Heartland Bank merging into German American Bank and operating under a co-branded name in Ohio.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:56 pm