Streetbeat News

Acquisitions Mergers

VSTO

Vista Outdoor shares are trading higher after receiving a $2.008 billion cash offer for The Kinetic Group from a private investment firm.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:53 am

VSTO

Vista Outdoor has received a $2,008,500,000 cash offer for The Kinetic Group from a private investment firm. Additionally, the company has rejected MNC Capital's latest indication of interest.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:52 am

NOTV

Inotiv, Inc. (NASDAQ:NOTV) has completed its Hillcrest, UK expansion and secured long-term contracts with new customers. The company also extended the maturity date of a $3.7 million OBRC payable note to July 2025. These developments are part of Inotiv's ongoing transformation plan initiated in 2022, which includes site closures, infrastructure investments, and a focus on growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:37 am

BAH

PAR

PAR Technology Corporation (NYSE:PAR) has announced the sale of its Government operating segment, including PAR Government Systems Corporation (PGSC) to Booz Allen Hamilton (NYSE:BAH) and Rome Research Corporation (RRC) to NexTech Solutions Holdings for a total of $102 million.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:35 am

DO

NE

Noble Corporation (NYSE: NE) is set to acquire Diamond Offshore Drilling (NYSE: DO) in a stock-plus-cash deal valued at $15.52 per share, representing an 11.4% premium over Diamond's closing price on June 7, 2024. The transaction is expected to close by Q1 2025. Noble will also increase its quarterly dividend by 25% to $0.50 per share starting Q3 2024. The deal is anticipated to generate $100 million in annual pre-tax cost synergies and boost Noble's free cash flow per share.

Portfolio Pulse from Lekha Gupta

June 10, 2024 | 11:31 am

DSY

Big Tree Cloud (NASDAQ:DSY) saw its stock soar over 140% in pre-market trading after announcing a business combination with Plutonian Acquisition Corp. The newly combined entity began trading on Nasdaq under the tickers 'DSY' and 'DSYWW'. The merger values Big Tree Cloud at $500 million and aims to enhance its personal care product offerings.

Portfolio Pulse from Benzinga Neuro

June 10, 2024 | 11:25 am

ICCH

ICC Holdings shares have resumed trading following the announcement that the company is being acquired by Mutual Capital Group for $23.50 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:09 am

CRML

Critical Metals Corp. (NASDAQ:CRML) has signed a binding heads of agreement to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine from Rimbal Pty Ltd. The transaction is valued at up to $211 million and positions Critical Metals Corp. as a key supplier of rare earth elements for the western world.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:07 am

CTSH

Cognizant (NASDAQ:CTSH) announced its acquisition of Belcan, LLC for $1.3 billion. The acquisition is expected to deliver over $100 million in annual revenue synergies within three years and be EPS accretive by 2026. This move will significantly expand Cognizant's ER&D capabilities and diversify its client base into the aerospace, defense, space, and marine sectors.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:03 am

SGC

Safe and Green Development Corporation (SGC) has acquired the AI technology MyVONIA for up to 500,000 shares of its common stock. The acquisition includes a non-compete agreement with Dr. Axely Congress, who will also continue to develop MyVONIA under a consulting agreement.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 10:55 am