Streetbeat News

Acquisitions Mergers

CRSR

Endor AG has agreed on steps with CORSAIR (NASDAQ:CRSR) for a full takeover and financial support to avoid insolvency. A binding agreement is expected by mid-June, with restructuring to be submitted to the Munich court soon.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 7:51 pm

ALC

Oppenheimer has upgraded Alcon Inc (NYSE: ALC) to 'Outperform' following strong Q1 earnings and new growth opportunities, including the acquisition of BELKIN Vision and market share gains in China.

Portfolio Pulse from Vandana Singh

May 15, 2024 | 6:35 pm

BX

JLL

MS

Morgan Stanley (NYSE:MS) has acquired $700 million in property loans from the failed Signature Bank through a consortium involving Blackstone Inc. (NYSE:BX), Canada Pension Plan Investment Board, and Rialto Capital. The transaction is significant in the commercial-property finance sector. Jones Lang LaSalle Inc (NYSE:JLL) advised on the sale.

Portfolio Pulse from Shivani Kumaresan

May 15, 2024 | 5:15 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) and Indonesia's Pertamina are planning to develop a carbon capture and storage (CCS) hub in Indonesia's Asri Basin, with potential storage of up to 3 gigatonnes of CO2 and an investment of $2 billion. They have also partnered with South Korea's KNOC. Additionally, Exxon recently completed the acquisition of Pioneer Natural Resources, doubling its Permian production. Investors can gain exposure to XOM through Energy Select Sector SPDR Fund (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

May 15, 2024 | 4:45 pm

RELI

Reliance Global Group shares are trading higher following the announcement of a definitive agreement to acquire Spetner Associates.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 4:44 pm

JLL

JLL is set to acquire SKAE Power Solutions, with the deal expected to close shortly, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:31 pm

SGD

Safe and Green Development Corporation (SGD) reported Q1 2024 revenue of $49,816, a GAAP net loss of $3,067,671, and an adjusted EBITDA loss of $432,004. Key operational highlights include the sale of the St. Mary's site for $1.35M, acquisition of XENE Real Estate AI Software, and securing financing for the Norman Berry expansion. The company aims to achieve $1M in revenue in Q2 from the St. Mary's sale and expand its XENE subscriber base.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:12 pm

ALRS

HMNF

Alerus Financial Corporation (NASDAQ: ALRS) is set to acquire HMN Financial, Inc. (NASDAQ: HMNF) in an all-stock merger valued at approximately $116.4 million. The merger will expand Alerus' assets and services, creating a combined company with $5.5 billion in total assets and 29 locations across the Midwest and Arizona.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:47 pm

MGRM

Monogram Orthopaedics is merging its subsidiary, Monogram Technologies, into Monogram Orthopaedics and will change its name to Monogram Technologies. This rebranding reflects the company's evolution as an AI-driven robotics company with a strong intellectual property position.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:39 pm

RELI

Reliance Global Group, Inc. (NASDAQ:RELI) has announced the acquisition of Spetner Associates, a benefits enrollment company serving over 75,000 employees. The acquisition is expected to double Reliance's revenue and drive significant EBITDA growth and shareholder value in 2024. Terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:33 pm