Streetbeat News

Acquisitions Mergers

CRGY

SBOW

Crescent Energy (NYSE:CRGY) and SilverBow Resources (NYSE:SBOW) announced preliminary results for the merger consideration elections. Approximately $358 million in cash will be paid to SilverBow shareholders, below the $400 million cap. The merger consideration includes options for stock, mixed, or cash payments.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:39 pm

ADTX

APLIF

Aditxt, Inc. (NASDAQ:ADTX) has signed a second amendment to its arrangement agreement with Appili Therapeutics Inc. (TSX:APLI, OTC:APLIF), targeting a September 30, 2024, closing for the acquisition. Appili has raised CAD $100M for developing therapeutics for infectious diseases and biodefense markets, with two programs potentially eligible for FDA Priority Review Vouchers.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:37 pm

COFS

ChoiceOne Financial Services (NASDAQ: COFS) announced a $30M common stock offering, pricing 1.2M shares at $25 each. The net proceeds are expected to be $28.2M, which will be used for general corporate purposes and to support its merger with Fentura Financial, Inc.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:32 pm

HP

Helmerich & Payne (NYSE: HP) has announced an agreement to acquire KCA Deutag for $1.9725 billion in cash. This acquisition will establish H&P as a global leader in onshore drilling, enhance its scale and diversification, and increase its rig count in the Middle East from 12 to 88. The deal is expected to be immediately accretive to cash flow and free cash flow per share, and H&P aims to maintain its high-quality investment grade credit rating.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:19 pm

COFS

FETM

ChoiceOne Financial Services (COFS) has announced a merger with Fentura Financial (FETM), valuing the transaction at $40.18 per share of Fentura common stock, or approximately $180.4 million. Each share of Fentura common stock will be converted into 1.35 shares of ChoiceOne common stock.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:09 pm

ASTH

CNC

Astrana Health has entered a definitive agreement to acquire Collaborative Health Systems from Centene Corporation. This acquisition will expand Astrana's payer-agnostic care delivery capabilities, serving over 129,000 beneficiaries across 17 states.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:08 pm

COFS

ChoiceOne Financial Services, Inc. (NASDAQ:COFS) has announced a $30 million common stock offering. The proceeds will be used for general corporate purposes, including supplementing regulatory capital ratios and supporting its merger with Fentura Financial, Inc.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:08 pm

BALY

Bally's Corporation (NYSE:BALY) has entered into a merger agreement with Standard General L.P., where Standard General will acquire Bally's outstanding shares for $18.25 per share, a 71% premium over the 30-day volume weighted average price. Bally's stockholders can choose to receive cash or retain their shares through a rollover election. The transaction values Bally's at approximately $4.6 billion.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 12:02 pm

SHYF

Shyft Group has acquired Independent Truck Upfitters, a service body and work truck upfitter based in the Midwest. The acquisition aligns with Shyft's growth strategy focused on specialty vehicles infrastructure. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 11:30 am

ECVT

Ecovyst has announced a key equity investment of $4.5 million in materials science company Pajarito Powder. This strategic move aims to enhance Ecovyst's capabilities and market position in the materials science sector.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 11:10 am