Streetbeat News

Acquisitions Mergers

EVRI

Everi shares are trading higher after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:37 pm

VSTO

Gates Capital Management, owning 9.6% of Vista Outdoor (NYSE: VSTO), believes that a $42 all-cash offer from MNC Capital Partners is superior to the proposed sale of The Kinetic Group to CSG. Gates Capital intends to vote against the CSG proposal, emphasizing that selling the entire company would provide better returns for shareholders.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:32 pm

CASY

Casey's General Stores (CASY) is set to acquire Fikes Wholesale for $1.145 billion, with a net after-tax purchase price of $980 million. This acquisition will expand Casey's presence in Texas and Southern markets.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:16 pm

PFC

WSBC

WesBanco (NASDAQ: WSBC) and Premier Financial Corp. (NASDAQ: PFC) have announced a merger agreement where Premier shareholders will receive 0.80 shares of WesBanco for each Premier share. The deal is valued at approximately $959 million, or $26.66 per share, creating a regional financial services entity with over $27 billion in assets.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:13 pm

MEDS

TRxADE Health has completed a business combination with Scienture in a $103 million all-stock transaction. TRxADE acquired all of Scienture's assets in exchange for TRxADE shares.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:07 pm

APO

EVRI

IGT

International Game Technology PLC (IGT) and Everi Holdings Inc. (EVRI) will be acquired by Apollo Funds in an all-cash transaction valued at $6.3 billion. Everi stockholders will receive $14.25 per share in cash, and IGT will receive $4.05 billion in gross cash proceeds.

Portfolio Pulse from charles@benzinga.com

July 26, 2024 | 11:13 am

FMCX

INST

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) has agreed to acquire Instructure Holdings, Inc. (NYSE:INST) for $4.8 billion in an all-cash deal, representing a 16% premium over Instructure's unaffected share price. The transaction is expected to close later this year, after which Instructure will be delisted from the NYSE and become privately held. KKR's stock has gained around 92% in the last 12 months, and investors can gain exposure via FM Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).

Portfolio Pulse from Lekha Gupta

July 26, 2024 | 10:19 am

NVDA

SERV

UBER

Serve Robotics Inc (NASDAQ:SERV) shares are experiencing significant gains, driven by NVIDIA Corp's (NASDAQ:NVDA) recent 10% stake in the company. The stock has surged over 500% since the announcement. Serve Robotics, which originated as Postmates' robotics division, went public via a reverse merger. The company also announced new board appointments, including David Goldberg and the reappointment of Uber Technologies Inc (NYSE:UBER) executive Sarfraz Maredia. The trading activity appears to be retail-driven, with increased social media chatter.

Portfolio Pulse from Adam Eckert

July 25, 2024 | 9:27 pm

HON

ISSC

Innovative Solutions & Support, Inc. (NASDAQ:ISSC) has acquired additional Communication and Navigation product lines from Honeywell International, Inc. (NASDAQ:HON) under an exclusive license agreement. The deal includes intellectual property rights and existing inventory for manufacturing, upgrading, and repairing these products.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 9:04 pm

ABVE

Above Food Ingredients Inc. (NASDAQ: ABVE) announced a combination of strategic transactions expected to provide approximately $16.7 million of incremental capital to fund future growth and improve net leverage. The company will host a conference call and webcast to discuss the update.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 8:40 pm