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Acquisitions Mergers

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

CSCO

Cisco Systems Inc (NASDAQ:CSCO) reported Q3 fiscal 2024 earnings with revenue and EPS beating estimates. Revenue was $12.7 billion, down 13% YoY but above the $12.531 billion consensus. EPS was 88 cents, beating the 82 cents estimate. The Splunk acquisition contributed $413 million to revenue. Cisco expects Q4 revenue between $13.4 billion and $13.6 billion and full-year revenue between $53.6 billion and $53.8 billion. The stock rose 1.47% during the day and 5.29% after hours.

Portfolio Pulse from Adam Eckert

May 15, 2024 | 8:22 pm

BRK/A

BRK/B

CB

Berkshire Hathaway has added a significant stake in Chubb Limited, acquiring 25.92 million shares valued at $6.72 billion.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:19 pm

RCAT

UMAC

Unusual Machines (UMAC) issued its first shareholder letter post-IPO, detailing its recent financial performance, acquisitions, and strategic initiatives. The company raised $5 million through its IPO and acquired Rotor Riot and Fat Shark from Red Cat Holdings. UMAC is focusing on managing its cash position, expanding its e-commerce and B2B sales, and entering the defense sector with NDAA-compliant drone components.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 8:11 pm