Streetbeat News

Acquisitions Mergers

BA

SPR

Boeing shares are trading lower after Airbus cut its guidance. Additionally, Boeing made an offer to acquire Spirit AeroSystems.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:12 pm

ZIMV

ZimVie is reportedly considering various options in response to new takeover interest. This development could lead to significant changes in the company's future direction.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:08 pm

RVLV

Revolve Group has acquired a majority stake in the French couture house Alexandre Vauthier. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:04 pm

VSTO

The sale of Vista Outdoor's ammunition business to Czech company CSG Group is facing scrutiny from the DOJ's antitrust lawyers and the Committee on Foreign Investment in the U.S. (CFIUS). Concerns include market concentration and national security. The DOJ's antitrust inquiry is in early stages, and the CFIUS review could conclude soon. Vista controls a majority of the U.S. primer market, and the acquisition could lead to greater pricing power for CSG. A competing bidder, MNC Capital, has also made a higher offer for Vista's ammunition business.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:56 pm

SPHR

TKO

Steve Cohen's Point72 Asset Management has acquired a 5.5% stake in Sphere Entertainment Co (NYSE:SPHR), signaling potential future sports events at the venue. Sphere is set to host the 2024 NHL Draft and UFC 306, and continues to generate revenue from concerts and movie experiences. Despite missing Q3 revenue estimates, Sphere's segment outperformed MSG Networks. The investment could indicate more sports-related events at Sphere.

Portfolio Pulse from Chris Katje

June 25, 2024 | 2:42 pm

FROG

JFrog announced its acquisition of Qwak AI to enhance the transition of AI models from development to production. No financial terms were disclosed. JFrog also reiterated its financial guidance for Q2 and FY24 provided on May 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 1:21 pm

MKL

Markel Group Inc. (NYSE:MKL) has entered into a definitive agreement to acquire a majority interest in Valor Environmental and its related operating companies. The transaction is expected to close in Q2 2024, subject to customary closing conditions. Additional terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 1:05 pm

BAM

BEP

Brookfield Asset Management Ltd. (NYSE:BAM) has signed a share purchase agreement to acquire a majority stake in France's Neoen. The deal, valued at EUR 6.1 billion, involves acquiring approximately 53.12% of Neoen's shares at EUR 39.85 per share. Brookfield has also entered into a tender agreement with Bpifrance for an additional 4.36% stake. The acquisition is subject to regulatory approvals, expected by Q4 2024, with a tender offer to follow in Q1 2025. BAM shares are up 0.68% premarket.

Portfolio Pulse from Lekha Gupta

June 25, 2024 | 1:03 pm

DD

DuPont has announced its acquisition of Donatelle Plastics Incorporated. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 1:01 pm

WOR

Worthington Enterprises (NYSE: WOR) is set to release its Q4 earnings, with analysts expecting a significant drop in earnings per share and revenue compared to the previous year. The company recently completed the acquisition of Hexagon Ragasco and offers a 1.25% annual dividend yield. Investors can earn $500 monthly from dividends with an investment of approximately $480,656.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 12:00 pm