Streetbeat News

Acquisitions Mergers

VSTO

MNC Capital Partners has increased its all-cash offer to acquire Vista Outdoor, Inc. to $42.00 per share, valuing the deal at approximately $3.2 billion.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:27 am

FUN

SIX

Cedar Fair and Six Flags have announced that regulatory conditions for their merger have been satisfied. The merger is set to close on July 1, 2024, and the combined company will be renamed 'Six Flags Entertainment Corporation', trading under the ticker 'FUN' from July 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:06 am

HITI

High Tide Inc. (NASDAQ:HITI) announced the acquisition of a retail cannabis store in Mississauga, Ontario for $600,000. The store, currently operating as Cantopia, is located in a busy retail plaza.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:01 am

DASH

DROOF

SBUX

DoorDash (NYSE:DASH) explored acquiring Deliveroo (OTC:DROOF), but talks stalled over valuation disagreements. The food delivery industry faces challenges, with major players accumulating significant losses. DoorDash's shares have risen 16.19% year-to-date.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 9:25 am

INTC

MSFT

NVDA

Groq, a rival of Nvidia, is set to double its valuation to $2.5 billion with a new funding round led by BlackRock. The AI chip company, founded by former Google executive Jonathan Ross, aims to raise $300 million with the help of Morgan Stanley. This development highlights the growing interest and investment in AI hardware, despite Nvidia's market fluctuations.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 8:00 am

AIG

Zurich Insurance announced a $600 million acquisition of AIG's global personal travel insurance business to expand its U.S. presence. The deal is expected to close by the end of 2024 and will integrate AIG's business with Zurich's Cover-More Group, projecting combined annual gross written premiums of $2 billion.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 7:23 am

AIG

AIG has agreed to sell its global individual personal travel insurance and assistance business, Travel Guard, to Zurich Insurance Group for $600 million in cash plus additional earn-out consideration. The sale excludes AIG's Accident & Health business and is expected to close by the end of 2024, pending regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 7:00 am

BERY

GLT

Berry Global and Glatfelter have achieved an additional regulatory milestone in their proposed transaction to combine a majority of Berry's Health, Hygiene, and Specialties segment.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 6:57 am

VSTO

Vista Outdoor announced that CFIUS has cleared CSG's proposed acquisition of Kinetic Group Business, marking the final regulatory approval needed. The Board recommends stockholders vote in favor of the merger, which is expected to maximize value for stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 9:48 pm

MSM

MSC Industrial Supply has acquired ApTex and Premier Tool Grinding. The combined revenue of the two companies is slightly over $20 million in 2023. The acquisitions are expected to be net neutral to MSC's fiscal year 2024 net income.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 9:32 pm