Streetbeat News

Acquisitions Mergers

AAPL

BRK

Ross Gerber, a prominent Tesla Inc. investor, shared his admiration for Warren Buffett's decisive business acumen after Berkshire Hathaway reduced its Apple holdings by 18% in Q1. Gerber's recount of a 2008 interaction with Buffett highlights the latter's tough business approach. The reduction in Apple's stake by Berkshire has led to speculation about Apple's future, amidst discussions on AI's role in shaping the tech giant's strategy. Apple's CEO Tim Cook remains bullish with a significant investment in AI, supported by predictions of an AI-driven super cycle by Wedbush's Dan Ives.

Portfolio Pulse from Rounak Jain

May 06, 2024 | 11:28 am

FMCX

KKR

LBO

KKR & Co. Inc. (NYSE:KKR) has signed agreements to acquire Healthium Medtech Ltd. from Apax Partners. The deal, valued at approximately $838.60 million, aims to leverage KKR's global network to accelerate Healthium's growth. The acquisition is expected to close in Q3 2024, pending regulatory approvals. KKR's stock closed lower by 2.18% at $95.01. Exposure to KKR can also be gained through FMCX and LBO ETFs.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 11:18 am

BAM

Brookfield Asset Management (BAM) has acquired a 51% stake in Castlelake's fee-related earnings for about $1.5 billion, including investments in Castlelake's strategies by Brookfield Reinsurance. This strategic partnership aims to expand Castlelake's asset-based investment business.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:15 am

PRFT

Perficient shares are trading higher following the announcement that it will be acquired by an affiliate of BPEA Private Equity Fund VIII.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:13 am

EQBBF

PRFT

Perficient, Inc. (NASDAQ:PRFT) shares surged in premarket trading after announcing an acquisition by BPEA Private Equity Fund VIII, part of EQT AB (OTC:EQBBF), for about $3.0 billion, or $76.00 per share in cash. This price is a significant premium over recent closing and average prices. The deal is expected to close by end-2024. Additionally, Perficient reported a 7% year-over-year decline in Q1 FY24 revenue to $215.3 million and a 26% drop in adjusted EPS to $0.77. Following the acquisition news, Perficient withdrew its 2024 financial guidance.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 11:05 am

ALE

ALLETE has agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners for $67 per share in cash. The acquisition is expected to close in mid 2025.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:05 am

GRFS

Grifols shares are trading higher following the completion of government approval procedures for the 20% stake transfer of SRAAS to Haier Group.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:48 am

HR

KKR

Healthcare Realty Trust Incorporated (HR) and KKR have formed a strategic joint venture to invest in medical outpatient buildings, with an initial seed portfolio valued at $382.5 million. HR will contribute 12 properties to the JV, retain a 20% interest, and manage the operations. KKR commits up to $600 million for future acquisitions.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:48 am

GM

GS

UBS

General Motors Co (NYSE:GM) backed Chinese self-driving company Beijing Momenta Technology Co. has confidentially filed for a U.S. IPO, aiming to raise $200-$300 million. The IPO is being managed by China International Capital Corp., Goldman Sachs Group Inc. (NYSE:GS), and UBS Group AG (NYSE:UBS), with a potential launch this year. The decision to proceed with the U.S. IPO is still under consideration. GM's shares rose 0.53% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:46 am

TSLA

Revel, a ride-hailing company, is in talks to acquire four abandoned Supercharger sites from Tesla Inc. (NASDAQ:TSLA) in New York. These sites, ready for about 60 charging stalls, align with Revel's expansion plans. Revel's interest in these sites follows Tesla's decision to slow down its Supercharger expansion and disband its Supercharging team. Revel operates over 50 charging stalls in Brooklyn and Queens, primarily using Tesla Model 3 and Model Y, and has started adding Kia Niro to its fleet.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 10:40 am