Streetbeat News

Acquisitions Mergers

RTO

Peltz's Trian Fund Management has reportedly acquired a stake in Rentokil, the owner of Terminix. This move could signal potential strategic changes or influence within the company.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:06 pm

PARA

PARAA

Shari Redstone's National Amusements Inc. (NAI) is likely to pursue a sale of the company and is unlikely to merge Paramount Global with another company. Discussions with Skydance have been stopped.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:44 pm

COF

Capital One Financial shares are trading lower after a company executive announced that they expect to close the Discover Financial deal in late 2024 or early 2025.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:19 pm

PARA

PARAA

Paramount's special committee is set to vote on a deal with Skydance, where Shari Redstone will sell her family's controlling stake in Paramount to Ellison for $2.25 billion.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:17 pm

COF

DFS

Capital One is in discussions with the U.S. Federal Reserve and the Office of the Comptroller of the Currency regarding its acquisition of Discover Financial. The deal is expected to close between late 2024 and early 2025, as previously anticipated. Capital One is also monitoring the Basel III Endgame implementation concerning capital returns to shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:15 pm

LAD

RFV

XMVM

Lithia Motors, Inc. (NYSE:LAD) is expanding its presence in the U.S. Southeast Region through acquisitions expected to generate over $240 million in annualized revenue. The company has purchased several stores, including Sunrise Chevrolet Buick GMC and Sunrise Buick GMC in Memphis, Tennessee, and Woodbridge Hyundai in Greater Toronto. These acquisitions bring the company's total expected annualized revenue from acquisitions to over $5.6 billion. Additionally, Lithia Motors has increased its share repurchase authorization by $350 million, bringing the total to $660 million. LAD shares are currently down 1.15%. Investors can also gain exposure to the stock via Invesco S&P Midcap 400 Pure Value ETF (NYSE:RFV) and Invesco S&P MidCap Value With Momentum ETF (NYSE:XMVM).

Portfolio Pulse from Lekha Gupta

June 11, 2024 | 3:49 pm

APIE

DFIV

HSBC

HSBC Holdings plc (NYSE:HSBC) shares are trading lower today following the acquisition of Citigroup Inc’s (NYSE:C) retail wealth management portfolio in mainland China. The integration includes over 300 employees and assets from 11 major cities. Despite this, HSBC has shown significant growth in Net New Invested Assets in Asia. Investors can also gain exposure to HSBC through ETFs like Dimensional International Value ETF (NYSE:DFIV) and Trust For Professional Managers ActivePassive International Equity ETF (NYSE:APIE).

Portfolio Pulse from Lekha Gupta

June 11, 2024 | 3:17 pm

MGRC

WSC

McGrath RentCorp (NASDAQ:MGRC) has scheduled a special meeting of shareholders for July 11, 2024, to vote on its proposed acquisition by WillScot Mobile Mini (NASDAQ:WSC).

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 2:50 pm

MRK

Merck's executive announced at the Goldman Sachs conference that the company continues to expect deals up to $15 billion, with a focus on oncology.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 2:16 pm

ASO

CASY

ORCL

PERI

Investor optimism has improved, with the S&P 500 closing at a record high. Diamond Offshore Drilling shares surged 11% after announcing an acquisition by Noble Corporation, while Perion Network shares fell 30% due to a revenue outlook cut. Investors are awaiting the Federal Reserve's interest-rate decision and consumer price index.

Portfolio Pulse from Avi Kapoor

June 11, 2024 | 1:03 pm