Streetbeat News

Acquisitions Mergers

AROC

Archrock has commenced a public offering of 11 million shares of its common stock, with an option for underwriters to purchase an additional 1.65 million shares. The proceeds will be used to fund the acquisition of Total Operations and Production Services, LLC.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:54 pm

AROC

Archrock Inc. (AROC) announced the acquisition of Total Operations and Production Services for $983 million in cash and stock. The transaction is expected to be immediately accretive to EPS and cash available for dividends. The acquisition adds 580,000 horsepower of young assets and expands electric motor drive compression capabilities. A conference call is scheduled for July 23.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:48 pm

TUSK

Cobra Acquisitions, a subsidiary of Mammoth Energy Services (NASDAQ:TUSK), has reached a $188 million settlement agreement with the Puerto Rico Electric Power Authority (PREPA). The proceeds will be used to pay off a $49.3 million term credit facility, with the remaining $139.1 million to be reinvested into the business and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:32 pm

MMM

SOLV

Peltz's Trian Fund Management has reportedly built a stake in Solventum, a spinoff from 3M. This move could signal confidence in Solventum's future prospects and may impact 3M's stock as well.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:29 pm

DIS

RLNIY

Walt Disney Co. (NYSE:DIS) shares are down 1.68% due to concerns raised by India's antitrust body about its $8.5 billion merger with Reliance Industries' media assets. Additionally, a potential strike by Teamsters at Disneyland could impact operations.

Portfolio Pulse from Vaishali Prayag

July 22, 2024 | 8:18 pm

DOV

Dover Corporation has acquired Marshall Excelsior Company for $395 million in cash. MEC will join OPW Global, a unit within Dover's Clean Energy & Fueling segment.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:15 pm

UPS

UPS has announced its acquisition of Estafeta, a move aimed at capitalizing on the manufacturing boom in Mexico, global supply chain shifts, and North American trade growth. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:12 pm

MRM

MEDIROM Healthcare Technologies Inc. announced that its subsidiary, MEDIROM Rehab Solutions Inc., has entered into an agreement to purchase a rehabilitation business from Y's, Inc., a Japanese corporation. The acquisition includes 10 rehabilitation facilities around Tokyo that cater to survivors of cerebral infarction.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 8:02 pm

DKNG

Musburger Media has acquired VSiN from DraftKings. The original founders, Brian Musburger and Bill Adee, will lead the sports betting network.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 7:45 pm

HAS

MAT

Mattel shares surged 16% following reports of a potential acquisition by private equity firm L Catterton or Hasbro. However, Mattel has not confirmed any deal talks. The company is also set to release its Q2 earnings report tomorrow.

Portfolio Pulse from Vaishali Prayag

July 22, 2024 | 7:39 pm