Streetbeat News

Acquisitions Mergers

PWSC

PowerSchool shares are trading higher following a report suggesting the company has drawn takeover interest from Warburg Pincus and is also in talks with Bain Capital about a buyout.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 5:18 pm

PWSC

Powerschool is reportedly drawing takeover interest from Warburg Pincus and is also in talks with Bain Capital about a potential buyout.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:57 pm

BMBL

IRBO

RVER

Bumble Inc. (NASDAQ:BMBL) plans to acquire Geneva, an app for group and community connections, to enhance its Bumble For Friends feature. The acquisition aligns with Bumble's focus on community-building and is expected to finalize in Q3 2024. Bumble has recently laid off 30% of its workforce due to weak earnings. Bumble's stock has declined over 29% in the past year.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 4:38 pm

JPM

KBE

KRE

XLF

JP Morgan CEO Jamie Dimon stated that banks should be allowed to merge during the company's Investor Day.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:30 pm

INST

JPM

Thoma Bravo is exploring the sale of its 83% stake in Instructure (INST.N), a U.S. education software provider. JPMorgan Chase (JPM.N) has been engaged to gauge interest from potential buyers. Instructure's shares rose 9% to $22 in after-hours trading following the news.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:30 pm

INST

Instructure shares are trading higher following a report that Thoma Bravo is exploring a sale of the company.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:28 pm

CIBR

CYBR

IHAK

CyberArk Software Ltd. (NASDAQ:CYBR) has announced its acquisition of Venafi for $1.54 billion, expected to close in the second half of 2024. The deal includes $1 billion in cash and $540 million in shares. Venafi is projected to add $150 million in annual recurring revenue and enhance CyberArk's machine identity solutions, expanding its Total Addressable Market from $50 billion to $60 billion. The acquisition is anticipated to be accretive to margins immediately and offer significant revenue synergies.

Portfolio Pulse from Lekha Gupta

May 20, 2024 | 3:49 pm

DYN

HIMS

MU

OSG

WIX

U.S. stocks saw significant gains on Monday, with notable increases in shares of Overseas Shipholding Group, Hims & Hers Health, Dyne Therapeutics, Wix.com, and others. Key drivers included merger agreements, clinical trial data, and positive financial forecasts.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 3:37 pm

JCI

Johnson Controls International (NYSE:JCI) shares are trading higher following reports that Elliott Investment Management has acquired a large stake in the company, valued at over $1 billion. Elliott Investment is now one of the top 10 investors in Johnson Controls. Additionally, Johnson Controls announced cash tender offers to purchase up to $90 million in senior notes. The stock is up 2.93% at $71.05.

Portfolio Pulse from Dylan Berman

May 20, 2024 | 3:16 pm

LQR

LQR House shares are trading higher following the company's announcement of acquiring approximately 9.9% Common Shares of Cannon Estate Winery.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:28 pm