Streetbeat News

Acquisitions Mergers

HON

Honeywell has agreed to acquire CAES Systems Holdings LLC from Advent International for approximately $1.9 billion in an all-cash transaction. The acquisition is expected to be accretive to adjusted earnings per share in the first full year and is anticipated to close in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:07 am

EBS

Emergent BioSolutions Inc. (NYSE:EBS) has agreed to sell its Baltimore-Camden manufacturing site to Bora Pharmaceuticals for $30 million. The site includes non-viral aseptic fill/finish services and approximately 350 employees will transfer to Bora.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:05 am

HUIZ

Huize Holding Limited (NASDAQ:HUIZ) has acquired Vietnam's Global Care, marking its first step in global expansion through its new international brand Poni Insurtech. The acquisition aims to replicate Huize's successful digital insurance model in the ASEAN region, starting with Vietnam. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:50 am

HON

Honeywell has struck a $2 billion deal to acquire Advent's CAES system, according to sources cited by the Wall Street Journal. This acquisition is expected to enhance Honeywell's defense business.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 10:16 am

CPAY

IPAY

TMSL

Corpay, Inc. (NYSE:CPAY) has announced a definitive agreement to acquire GPS Capital Markets, LLC, a company specializing in cross-border and treasury management solutions. The acquisition is expected to close in early 2025, subject to regulatory approval. Corpay anticipates significant revenue and expense synergies from the deal, which will be accretive to its 2025 cash EPS. The company expects its second quarter 2024 results to align with its financial guidance, projecting revenues of $960 million-$980 million and adjusted EPS of $4.45-$4.55. Corpay's cash and equivalents stood at $3.2 billion as of March 31, 2024. Investors can gain exposure to CPAY via Amplify Mobile Payments ETF (NYSE:IPAY) and T. Rowe Price Small-Mid Cap ETF (NYSE:TMSL).

Portfolio Pulse from Lekha Gupta

June 20, 2024 | 9:48 am

CG

DFS

KKR

Carlyle Group and KKR are the leading bidders for Discover Financial Services' $10 billion U.S. student loan portfolio, according to a report by the Financial Times.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 9:28 am

ACN

Accenture announced its acquisition of Fibermind to enhance its fiber and mobile 5G network deployment services. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 8:12 am

NVDA

QCOM

SoftBank's Masayoshi Son announced plans for a significant investment in artificial intelligence (AI), despite past setbacks with Alibaba and WeWork. The company is pivoting towards semiconductors and AI, with plans to expand its renewable power generation business in the US. SoftBank's Vision Fund has reduced its U.S.-listed portfolio by nearly $29 billion, and Son is seeking up to $100 billion for a chip venture to rival Nvidia.

Portfolio Pulse from Benzinga Neuro

June 20, 2024 | 7:26 am

CARR

Carrier's Sensitech has expanded its cold chain solutions by acquiring Berlinger & Co.'s monitoring business. This acquisition aims to enhance Sensitech's capabilities in providing comprehensive cold chain monitoring solutions.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:13 am

MOR

NVS

Novartis has announced plans to delist MorphoSys from the Frankfurt Stock Exchange and NASDAQ following its acquisition. Novartis will initiate a squeeze-out of MorphoSys' minority shareholders and merge MorphoSys into Novartis. The delisting and merger are expected to be completed by Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 7:13 am