Streetbeat News

Acquisitions Mergers

HCP

IBM

HashiCorp has announced that it will not be holding a conference call or providing financial guidance due to a proposed acquisition by IBM. IBM will acquire HashiCorp for $35.00 per share in cash, valuing the company at $6.4 billion. The transaction is expected to close by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:56 pm

ALK

Alaska Airlines has purchased a 19-acre property from Unico Properties for $85.75 million, which includes a 600,000-square-foot facility. The airline plans to invest an additional $100 million to renovate the space and open a new training hub in 2025.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:51 pm

PARA

Paramount Global (NASDAQ:PARA) shares rose as the company's independent committee prepares to review an enhanced merger proposal from Skydance Media. The revised offer is expected to be more favorable to shareholders, involving more cash investment from Skydance.

Portfolio Pulse from Vaishali Prayag

May 30, 2024 | 9:27 pm

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has gained ownership of the U.S. New Drug Application and Investigational New Drug Applications for PONVORY® (ponesimod) from a Johnson & Johnson Company, allowing Vanda to fully commercialize the drug in the U.S.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:07 pm

BFI

BurgerFi has announced that it is reviewing strategic alternatives. The company will not provide further comments on the process but will make announcements as required by law.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:56 pm

CVLY

ORRF

Orrstown Financial Services, Inc. and Codorus Valley Bancorp, Inc. have received shareholder approvals for their previously announced merger of equals.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:51 pm

AFBI

APCU/Center Parc Credit Union is set to acquire Affinity Bank, a subsidiary of Affinity Bancshares. The transaction is expected to close in late 2024 or early 2025, after which Affinity and Affinity Bank will liquidate and distribute remaining assets to shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:45 pm

TDG

Cerberus Capital Management has acquired Calspan's Hypersonic and Defense Test Systems business units from TransDigm Group. This acquisition aims to establish North Wind to advance U.S. hypersonic test capabilities.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:41 pm

KKR

KKR has entered into an agreement to acquire a majority stake in Agiloft. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:19 pm

HPH

Highest Performances Holdings (HPH) reported its financial results for the first half of fiscal year 2024, showing a significant decrease in net revenues and an increase in net loss. The company completed the acquisition of Fanhua at the end of December 2023, but the financial results do not include any profits from Fanhua. The decrease in revenues was attributed to a decline in the A-share market and conservative investor sentiment. Operating costs and expenses also decreased significantly due to cost-control measures.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:04 pm