Streetbeat News

Acquisitions Mergers

DANOY

LWAY

Danone SA proposed to acquire Lifeway Foods for $283 million, offering $25 per share. However, Lifeway's Board rejected the offer and adopted a 'poison pill' strategy to prevent the takeover.

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November 07, 2024 | 10:00 pm

CPK

Chesapeake Utilities Corporation reported its third quarter 2024 results, showing net income of $17.5 million and EPS of $0.78. Adjusted figures, excluding acquisition-related expenses, were slightly higher. The company continues to meet management's expectations and affirms its 2024 EPS and capital guidance.

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November 07, 2024 | 9:45 pm

SERV

Serve Robotics Inc. (Nasdaq: SERV) reported its Q3 2024 results, highlighting a $32.3 million capital raise, a cash balance of $50.9 million, and plans for expansion into the Dallas Fort Worth area. The company also announced an agreement to acquire Vebu and its avocado-processing robot, Autocado.

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November 07, 2024 | 9:30 pm

FRLA

OCLN

Fortune Rise Acquisition Corporation (NASDAQ:FRLA) has received a one-month extension to complete its initial business combination, thanks to a deposit by its sponsor affiliate, Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTC:OCLN).

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November 07, 2024 | 9:30 pm

INVX

Innovex International, Inc. (NYSE:INVX) reported strong third-quarter 2024 results, with a significant increase in revenue and net income following a merger with Dril-Quip, Inc. The company achieved a 17% increase in revenue and a 766% increase in net income quarter over quarter. The merger resulted in a bargain purchase gain of $93 million.

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November 07, 2024 | 9:15 pm

SERV

Serve Robotics Inc. (Nasdaq: SERV) is acquiring Vebu Inc., a company specializing in automation and robotics solutions for restaurants. This acquisition aims to enhance Serve's offerings in the restaurant industry, addressing efficiency and labor shortage challenges.

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November 07, 2024 | 9:15 pm

LTRX

Lantronix Inc. has announced a definitive agreement to acquire the enterprise IoT business of NetComm from DZS, Inc. for $6.5 million. This acquisition aims to enhance Lantronix's position in the IoT market, particularly in the Enterprise and Smart City sectors, and expand its 5G capabilities.

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November 07, 2024 | 9:15 pm

ALTM

Arcadium Lithium plc reported its third quarter 2024 results but will not hold an earnings call due to its pending acquisition by Rio Tinto.

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November 07, 2024 | 9:15 pm

TPL

Texas Pacific Land Corporation (TPL) is highlighted as a strong investment due to its unique business model, high margins, and strategic positioning in the Permian Basin. Despite a high P/E ratio, its innovative contracts and sustainable solutions support a bullish outlook.

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November 07, 2024 | 8:00 pm

TWIN

Twin Disc reported a fiscal Q1 net loss of 20 cents per share due to rising operational costs and an unfavorable product mix, despite a 14.7% revenue increase from the Katsa Oy acquisition.

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November 07, 2024 | 7:30 pm