Streetbeat News

Acquisitions Mergers

ESLOF

VFC

EssilorLuxottica has agreed to acquire the Supreme brand from VF Corporation for $1.5 billion in cash. The transaction is expected to close by the end of CY2024, pending customary closing conditions and regulatory approvals. Supreme operates a digital-first business and 17 stores across the U.S., Asia, and Europe.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 10:07 am

DDOG

GTLB

GitLab is exploring a potential sale, with Datadog among the potential buyers. This move could significantly impact both companies' market positions and valuations.

Portfolio Pulse from charles@benzinga.com

July 17, 2024 | 9:25 am

J

Jacobs (NYSE:J) has filed a Form 10 with the SEC for the planned spin-off of its Critical Mission Solutions and Cyber & Intelligence businesses. The spin-off will merge with Amentum and is expected to close in Q4 2024, forming Amentum Holdings, Inc.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:02 pm

AEHR

Aehr Test Systems (NASDAQ:AEHR) shares surged after the company reported strong Q2 results, forward guidance, and announced an acquisition and new orders. The company beat earnings and sales estimates significantly, reported a strong backlog, and provided a positive revenue outlook for fiscal year 2025.

Portfolio Pulse from Erica Kollmann

July 16, 2024 | 8:48 pm

APO

SLCA

U.S. Silica stockholders have approved the acquisition by Apollo Funds. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:17 pm

AEHR

Aehr Test Systems (NASDAQ:AEHR) has entered into a stock purchase agreement to acquire Incal Technology for $21 million. The acquisition will expand Aehr's product portfolio to include Incal's high-power test solutions for AI semiconductors, GPUs, and HPC processors. The deal is expected to be immediately accretive and is set to close within 60 days.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:10 pm

UFPT

UFP Technologies has announced the acquisition of Marble Medical, a company founded in 1988 and headquartered in Tallahassee, FL. This acquisition will expand UFP Technologies' capabilities in adhesive-based medical components and single-use devices.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:05 pm

AG

DRD

GDX

GFI

GOLD

HMY

NEM

Gold prices hit a new all-time high, driven by expectations of a Fed rate cut in September. This surge has positively impacted gold mining stocks, with the VanEck Gold Miners ETF (GDX) reaching its highest level since April 2022. Bank of America predicts strong earnings for gold miners, suggesting potential increases in dividends and share buybacks.

Portfolio Pulse from Piero Cingari

July 16, 2024 | 8:02 pm

UFPT

UFP Technologies has acquired Welch Fluorocarbon, though the financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:01 pm

APD

IYM

XLB

Air Products and Chemicals, Inc. (NYSE: APD) shares are surging due to Aramco's agreement to acquire a 50% stake in its Blue Hydrogen Industrial Gases Company (BHIG). This partnership aims to expand the hydrogen economy in the Middle East. Investors can also gain exposure to APD via IShares U.S. Basic Materials ETF (NYSE: IYM) and Materials Select Sector SPDR (NYSE: XLB).

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 5:16 pm