Streetbeat News

Acquisitions Mergers

CDP

COPT Defense Properties (NYSE:CDP) has acquired a 202,000 square foot Class A building in Columbia, MD, for $15M. The building, 56% leased to a leading defense contractor, enhances COPT Defense's dominance in Columbia Gateway, where it now controls 45% of the square footage. This acquisition is seen as a strategic move to leverage the company's Defense/IT franchise and meet the strong demand from Defense Contractors, aiming to create significant shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:01 pm

TALO

Talos Energy Inc. (NYSE:TALO) announced organizational updates following the acquisition of QuarterNorth Energy Inc., including promotions and new appointments to support growth and strategic priorities. Sergio Maiworm was promoted to Executive Vice President and CFO, effective April 24, 2024. Jim Brysch and Truitt Smith, former QuarterNorth employees, were appointed as Vice Presidents, and Francisco Noyola was promoted to Vice President - Mexico. Clay Jeansonne joined as Vice President - Investor Relations, and John Parker left the company. CEO Tim Duncan emphasized the leadership's role in strengthening Talos's position as a premier E&P offshore operator.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:00 pm

AON

Aon plc (NYSE:AON) announced the early settlement date of April 26, 2024, for its cash tender offers and related consent solicitations for outstanding debt securities of NFP Corp. The offers, made by Aon's subsidiary Randolph Acquisition Corp., target various senior notes due between 2028 and 2031. The early tender date was April 15, 2024, with withdrawal rights expiring at the same time. The final expiration date for the offers is April 30, 2024. The total consideration for notes accepted for purchase will be paid on the early settlement date.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 8:44 pm

HPE

JNPR

Juniper Networks announced that due to its ongoing acquisition process by HPE, it will not provide financial guidance for 2024, a common practice during such transactions.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 8:16 pm

ISPR

At the Benzinga Cannabis Capital Conference, industry leaders discussed the potential for global market expansion in the cannabis sector, highlighting the challenges and opportunities. Dr. Chanda Macias emphasized the importance of community and international scaling for women entrepreneurs, while Luna Stower of Ispire Vape Technology (NASDAQ:ISPR) discussed overcoming American biases and the significance of their Nasdaq listing. Heather Molloy spoke on the difficulties of raising capital for women in the cannabis industry and the potential for leveraging high-quality terpenes in international markets.

Portfolio Pulse from Rolando García

April 25, 2024 | 8:06 pm

PARA

PARAA

Skydance Media and its private equity backers are planning to finalize a deal with Paramount Global by May, which will see Skydance valued at around $5B and merged with Paramount Global. David Ellison is set to become CEO of Paramount Global, with Jeff Shell as President. The deal involves raising approximately $4.5B-$5B in new equity.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:46 pm

PARA

Paramount Global and Skydance Media are nearing a merger, with a deal potentially closing in May. The merger involves valuing Skydance at around $5 billion and merging it with Paramount Global. David Ellison is set to become CEO, and Jeff Shell as president, replacing current CEO Bob Bakish. A significant hurdle remains with Paramount's carriage renewal with Charter Communications, which could impact the deal's value. Additionally, Apollo and Sony have shown interest in buying out Paramount Global shareholders, but the special committee favors Skydance's offer for its future upside and cleaner balance sheet. Paramount's reliance on traditional TV and upcoming earnings report add complexity to the negotiations.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:39 pm

GFS

ON

Semiconductor stocks ON Semiconductor (NASDAQ:ON) and Globalfoundries Inc (NASDAQ:GFS) are trading near their 52-week lows as they approach Q1 earnings, part of the MANGO group aiming to emulate FAANG success. Despite recent declines, ON and Globalfoundries are considered undervalued based on P/E and EV/Sales ratios, with analysts seeing potential upside. The broader MANGO group shows varied performance, with Nvidia, Broadcom, and AMD leading in growth.

Portfolio Pulse from Surbhi Jain

April 25, 2024 | 7:14 pm

SPGI

S&P Global Inc. (NYSE:SPGI) reported Q1 earnings of $4.01 per share, surpassing the consensus estimate of $3.66, and a 27.3% increase from last year. Quarterly sales were $3.49 billion, exceeding estimates of $3.42 billion, marking a 10.47% year-over-year increase. The company credits strong execution for operating margin expansion and plans to repurchase $1.3 billion in shares through Q3 2024. CEO Douglas Peterson highlighted record revenue and investments in AI, sustainability, and private markets. S&P Global raised its full-year 2024 revenue outlook to 6%-8% and expects adjusted earnings between $13.85 and $14.10 per share.

Portfolio Pulse from Erica Kollmann

April 25, 2024 | 6:24 pm

TMUS

The FCC has approved T-Mobile's acquisition of Mint Mobile, a move that could significantly impact T-Mobile's market position by expanding its customer base and service offerings.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:12 pm