Streetbeat News

Acquisitions Mergers

RS

Reliance, Inc. (NYSE:RS) announced an agreement to acquire certain assets of FerrouSouth, a division of Ferragon Corporation. FerrouSouth specializes in flat-rolled steel processing and logistics services. The transaction is expected to close within 30 days, with annual net sales for the acquired operations around $15 million.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:51 am

HCP

IBM

On July 12, HashiCorp and IBM received requests for additional information and documentary material from the FTC in connection with a merger review, according to a filing.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:46 am

AOS

UL

A. O. Smith has agreed to acquire the water purification business Pureit from Unilever for $120 million in cash, subject to customary adjustments.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:43 am

VSTO

MNC Capital has stated it has no intention of increasing its $42 per share offer for Vista Outdoor, citing incomplete and inaccurate disclosures by Vista. MNC criticized Vista for not engaging with them for almost two months and making untrue statements about the offer.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:09 am

AIRE

reAlpha Tech has acquired 85% of AiChat Pte. Ltd. for $1.14 million, with plans to acquire the remaining 15% by June 30, 2025. The purchase price will be paid in shares of reAlpha Tech's common stock in three tranches starting January 1, 2025. Additionally, reAlpha Tech will infuse $300,000 into AiChat.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:04 am

CLF

Cleveland-Cliffs (CLF) has announced the acquisition of Stelco Holdings for a total enterprise value of approximately $2.5 billion. Stelco shareholders will receive CAD $60.00 per share in cash and 0.454 shares of Cliffs common stock per Stelco share, totaling CAD $70.00 per share. The transaction has the support of the USW union and is expected to close in Q4 2024, pending shareholder and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:02 am

ACN

Accenture has acquired Excelmax Technologies, though the terms of the deal were not disclosed. This acquisition is expected to enhance Accenture's technological capabilities.

Portfolio Pulse from Benzinga Newsdesk

July 08, 2024 | 12:12 pm

AVTE

Aerovate Therapeutics, Inc. (NASDAQ:AVTE) announced it will explore strategic alternatives, including potential acquisitions, mergers, or other transactions, following the halt of its Phase 3 clinical trial for Inhaled iMatinib Pulmonary Arterial Hypertension.

Portfolio Pulse from Benzinga Newsdesk

July 08, 2024 | 12:06 pm

MCO

Moody's Corporation (NYSE:MCO) has fully acquired Global Credit Rating Company Limited (GCR), expanding its investment in Africa's domestic credit markets. The financial terms were not disclosed, and the acquisition will not materially impact Moody's 2024 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 08, 2024 | 12:06 pm

BA

PARA

QQQ

SPY

TSLA

U.S. stock futures are flat as the market is at a record high, supported by a tech rally. Traders are cautious ahead of Federal Reserve Chairman Jerome Powell's testimony and other economic data. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are slightly down in premarket trading. Paramount Global (PARA) is up over 3% after confirming its acquisition by Skydance Media, while Tesla (TSLA) fell over 1% after an 8-session runup. Boeing (BA) rose modestly after reaching a guilty plea agreement with the DOJ over the 737 Max.

Portfolio Pulse from Shanthi Rexaline

July 08, 2024 | 11:44 am