Streetbeat News

Acquisitions Mergers

FMCX

KKR

LBO

KKR & Co Inc (NYSE:KKR) is targeting $20 billion for its new North America private equity fund, North America Fund XIV, amid a challenging fundraising environment. The fund aims for a high teens net IRR and plans to deploy 20%-25% of its capital annually. KKR's previous fund achieved a net IRR of 20.5%. The firm's fundraising efforts will test investor confidence, especially compared to Carlyle Group Inc (NASDAQ:CG) and Bain Capital's funds. KKR has raised $180 billion from early 2022 to Q1 2024 and has committed to offering equity to employees of its portfolio companies, leading to higher revenue and lower turnover. KKR stock has gained over 105% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 4:17 pm

ALIM

ANIP

ANI Pharmaceuticals Inc (NASDAQ:ANIP) has agreed to acquire Alimera Sciences Inc (NASDAQ:ALIM) for $5.50 per share in cash and a contingent value right (CVR) of up to $0.50 per share. The deal, valued at approximately $381 million, includes the repayment of $72.5 million of Alimera's debt and is expected to close in Q3 2024. The acquisition will expand ANI's rare disease segment and international footprint, adding Alimera's products Iluvien and Yutiq to its portfolio. ANI expects significant revenue and EPS accretion from the deal.

Portfolio Pulse from Vandana Singh

June 24, 2024 | 3:28 pm

ADRT

Ault Disruptive Technologies shares are trading higher following the announcement of a definitive merger agreement with Gresham Worldwide.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 3:27 pm

IYK

PEP

XLP

PepsiCo has waived a clause in its bottling agreement with Britvic, making Britvic a more appealing acquisition target for Carlsberg. This follows Britvic's rejection of a $3.9 billion bid from Carlsberg. The waiver will take effect if Britvic's board recommends and completes an acquisition by Carlsberg. PepsiCo's stock has lost more than 9% in the last 12 months, but shares were trading higher by 1.07% at $169.07 recently.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 3:02 pm

NNE

NANO Nuclear Energy shares are trading higher following the company's acquisition of annular linear induction pump intellectual property, which is used in small nuclear reactor cooling and heat transfer.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 2:50 pm

VSTO

Vista Outdoor Inc. (NYSE: VSTO) shares are trading higher after the company announced an amendment to its merger agreement with Czechoslovak Group a.s. (CSG), increasing the base purchase price for The Kinetic Group business by $40 million to $2 billion. The amendment also raises the cash consideration for Vista Outdoor stockholders by $2.00 per share, from $16.00 to $18.00. The transaction is expected to close in 2024, pending necessary approvals.

Portfolio Pulse from Shivani Kumaresan

June 24, 2024 | 2:01 pm

TMTC

TMT Acquisition's merger partner, eLong Power, has signed a $66 million contract for a 600MWh lithium battery storage system, with delivery expected by October 31, 2024. The business combination is anticipated to close in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:31 pm

KNGS

REGL

SON

Sonoco Products Company (NYSE:SON) has announced a $3.9 billion acquisition of Eviosys, a leading metal packaging manufacturer. The deal is expected to enhance Sonoco's global market position and is projected to close by the end of 2024. The acquisition will be financed through new debt and equity issuance, with plans to maintain an investment-grade credit rating. Sonoco anticipates significant synergies and a positive impact on earnings per share. The company also plans to divest ThermoSafe and other assets to generate $1 billion in proceeds.

Portfolio Pulse from Lekha Gupta

June 24, 2024 | 1:29 pm

FXI

UBS

UBS Group AG has sold a 36.01% stake in Credit Suisse's China unit to Beijing State-owned Assets Management for $91.4 million, retaining a 15% share. This sale is part of UBS's strategy following its acquisition of Credit Suisse. The CSI 300 Index hits a four-month low as investors await stimulus measures ahead of the Communist Party's Third Plenum next month.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:28 pm

ADSK

Autodesk has acquired Datum360 and announced the general availability of its AEC Data Model API. This acquisition is expected to enhance Autodesk's capabilities in the AEC (Architecture, Engineering, and Construction) sector.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:19 pm