Streetbeat News

Acquisitions Mergers

NVX

NOVONIX has completed due diligence for its merger with Axon Graphite. NOVONIX will divest its subsidiary MD South Tenements Pty Ltd, which holds the Mount Dromedary natural graphite exploration interests, to Axon Graphite Limited, a subsidiary of LEL. LEL will contribute its Burke and Corella graphite projects to Axon.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 6:39 am

TSRI

TSR Inc. has agreed to be acquired by Vienna Acquisition Corporation, an affiliate of BCforward's founder, for $13.40 per share. This represents a 73.8% premium to TSR's closing price on May 14, 2024, with an equity value of approximately $29 million.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 9:35 pm

CUBI

Customers Bank, a subsidiary of Customers Bancorp (NYSE:CUBI), has purchased a minority limited partnership interest in a fintech investment fund for $5 million, representing a 70% discount to the original cost. This move underscores the bank's commitment to venture banking and early-stage companies.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 9:26 pm

CB

Chubb Limited (NYSE:CB) shares surged after Berkshire Hathaway disclosed in an SEC filing that it purchased 25.92 million shares valued at over $6.717 billion. Wall Street analysts generally rate Chubb as 'Outperform,' with Citigroup's Michael Ward predicting a 15.55% rise in the stock over the next year. Chubb's stock rose 0.72% in the past three months and its revenue increased by 12.43% over the past year. Following the news, Chubb shares climbed 5.15% after-hours to $266.

Portfolio Pulse from Erica Kollmann

May 15, 2024 | 9:09 pm

TRP

TC Energy plans to appeal court rulings related to its 2016 Columbia Pipeline acquisition. The court awarded Columbia stakeholders $398.4 million in damages, with TC Energy responsible for $199.2 million plus $179.5 million in interest.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 9:05 pm

BLKB

Blackbaud has stated that Clearlake's offer undervalues the company and is not in the best interests of shareholders, according to an 8-K filing.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 9:00 pm

FCPT

FCPT has announced the acquisition of a Longhorn Steakhouse property for $2 million.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:47 pm

ATS

ATS has entered a definitive agreement to acquire Paxiom Group, a provider of packaging machines in various industries. Paxiom generated $67 million in revenue in 2023 with an adjusted EBITDA margin above 19%. The transaction is expected to close in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:37 pm

IBM

PANW

Palo Alto Networks and IBM have announced a partnership to deliver AI-powered security solutions. Palo Alto Networks will acquire IBM's QRadar SaaS assets, including intellectual property rights, and IBM will receive payments for clients migrating to Palo Alto's Cortex XSIAM platform.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:33 pm

AFL

Aflac has agreed to purchase a 40% stake in Tree Line, a direct lender, to help fund its private lending to firms. This strategic move aims to enhance Aflac's investment portfolio and diversify its revenue streams.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:32 pm