Streetbeat News

Acquisitions Mergers

MRDB

MariaDB shares are trading lower following an announcement by Progress Software that it has no intention to make an offer for the company.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 10:09 pm

TRNO

Terreno Realty Corporation (NYSE:TRNO) has expanded its industrial real estate portfolio by acquiring 28 buildings across New York City, Northern New Jersey, San Francisco Bay Area, and Los Angeles for approximately $364.5 million. The properties, totaling about 1.2 million square feet, are 91.6% leased to 70 tenants. The acquisition, advised by Goldman Sachs & Co. LLC, showcases in-place and estimated stabilized cap rates of 4.3%, 5.0%, and 5.8% respectively, reflecting the portfolio's income potential and adjustment to current market rents.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:48 pm

AFYA

Afya Limited (NASDAQ:AFYA) has announced the acquisition of Unidom Participações S.A., including Unidompedro and Faculdade Dom Luiz, for R$660 million, adding 300 operational medical school seats in Brazil. The acquisition is structured with a mix of cash and installment payments, subject to the maintenance of seat authorizations. Afya expects an EV/EBITDA of 4.2x post-synergies, with significant revenue growth projected from the Medicine course by 2027. The deal's closure is contingent on antitrust regulator approval.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:44 pm

SAND

Sandstorm Gold announced that its recent transaction will not materially impact its near or long-term production guidance. This suggests stability in the company's production outlook despite the transaction.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:34 pm

SAND

Sandstorm Gold Ltd. (SAND) has announced the sale of non-core, non-precious metals royalties for $21M plus retention of the next $10M from the Copper Mountain Royalty. This move, part of a strategy to expedite debt repayment, has led to over $50M in asset sales since Q3 2023. Additionally, Sandstorm's Board approved a Normal Course Issuer Bid (NCIB) to repurchase undervalued shares. The sale includes royalties from several projects, with the transaction expected to close in Q2 2024. Sandstorm maintains its 2024 production guidance, and the NCIB allows for the purchase of up to 20M common shares.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:33 pm

LLAP

LMT

Terran Orbital's stock price has declined following Lockheed Martin's decision to withdraw its buyout proposal for the company.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:18 pm

LMT

Lockheed Martin has officially withdrawn its proposal to buy out Terran Orbital, marking a significant shift in its acquisition strategy. This move could have various implications for both companies involved.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:18 pm

ENS

EnerSys has announced its plan to acquire Bren-Tronics for $208 million in cash. The acquisition is expected to close in the second quarter of 2024 and is anticipated to be immediately accretive to EnerSys's earnings per share (EPS).

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:13 pm

SXI

Standex expects a slight to moderate increase in Q4 revenue sequentially, driven by favorable project timing in Engineering Technologies, increased demand in Specialty Solutions, and the Sanyu acquisition. The company also anticipates a higher adjusted operating margin due to sales leverage and productivity actions, reaffirming its $200 million sales target by FY2028.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:07 pm

DRQ

Dril-Quip announced it has suspended providing earnings guidance updates due to its pending merger with Innovex. This decision reflects the company's focus on the merger process and the uncertainties it may introduce in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:57 pm