Streetbeat News

Acquisitions Mergers

INSI

KIO

KKR Income Opportunities Fund (KIO) will acquire the assets of Insight Select Income Fund (INSI). INSI shareholders will receive KIO shares and may opt for up to 5% in cash. Post-transaction, INSI will be delisted, while KIO continues trading on NYSE.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:22 pm

CRNX

Crinetics Pharmaceuticals has announced a proposed public offering of $400 million in common stock, with an option for underwriters to purchase an additional $60 million. The proceeds will be used for R&D, pre-commercialization activities, and potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:02 pm

DXPE

DXP Enterprises has refinanced its Senior Secured Term Loan B, raising an additional $105 million, bringing total borrowings to $649.5 million. The company reduced its borrowing margin by 100 basis points and plans to use the proceeds for debt repayment, acquisitions, and general corporate purposes, maintaining flexibility for growth and reinvestment.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 6:26 pm

CVX

Chevron is in discussions to sell its Texas gas assets to Tokyo Gas for up to $1 billion. This potential sale is part of Chevron's strategy to streamline its portfolio and focus on core operations.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:41 pm

MSOS

Pablo Zuanic from Zuanic & Associates discusses changes in M&A strategies from a buyer's perspective, highlighting the impact of potential rescheduling. He notes limited opportunities for MSOS, which is actively engaging in conferences in Germany.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:20 pm

MSOS

Laura Bianchi, Co-Founder of Bianchi & Brandt, discusses the potential impact of rescheduling on mergers and acquisitions (M&A) in the cannabis industry. She anticipates more creative collaborations and joint ventures, as well as increased interest from banks and credit unions in servicing the industry.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 5:02 pm

MSOS

Benzinga's Cannabis Capital Conference is discussing consolidation trends in the cannabis industry following cannabis rescheduling. The focus is on identifying potential winners and losers in the market.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 4:54 pm

ARES

LBO

USSE

Ares Management Corporation (NYSE:ARES) is acquiring GCP International for $3.7 billion, aiming to double its real estate assets under management. The deal involves cash and Ares shares, and is expected to close in the first half of 2025. Ares shares fell 3.15% following the announcement.

Portfolio Pulse from Lekha Gupta

October 08, 2024 | 4:09 pm

GOOG

GOOGL

Geoffrey Hinton, known as the 'Godfather of AI,' and John Hopfield have won the Nobel Prize in Physics for their foundational work in AI and deep learning. Hinton's company, DNNresearch, was acquired by Google, a unit of Alphabet Inc. This recognition could bolster AI's position as a growth sector.

Portfolio Pulse from Chris Katje

October 08, 2024 | 3:41 pm

MSOS

Aaron Grey, Managing Director of Equity Research Consumer & Cannabis, suggests that companies in his coverage could see an upward impact of up to $150M. This benefit, which could address debt, will stem from M&A or capital expenditures, depending on how proceeds are used.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 3:38 pm