Streetbeat News

Acquisitions Mergers

MLM

Martin Marietta Materials, Inc. (MLM) has completed the acquisition of 20 active aggregates operations from affiliates of Blue Water Industries LLC for $2.05 billion in cash. This acquisition, finalized on April 5, 2024, enhances MLM's product mix, margin profile, and economic durability by adding to its aggregates-led portfolio.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:57 am

DJT

DWAC

Trump Media & Technology (NASDAQ:DJT) CEO Devin Nunes defended the company's financial status amid criticism, highlighting its no-debt position and $200 million in the bank despite a $58 million loss in 2023. The company, which recently went public via a merger with Digital World Acquisition Corp. (DWAC), faced a stock price drop following the disclosure of its financial losses.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 10:48 am

BWXT

BWX Technologies, Inc. (BWXT) and Rolls-Royce have been awarded $1.5 million by the UK Space Agency for Phase 2 of the International Bilateral Fund (IBF). This funding supports their collaboration on advancing fission nuclear systems for space power missions, benefiting both the UK and U.S. space nuclear development programs.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:47 am

TW

Tradeweb Markets has agreed to acquire Institutional Cash Distributors, LLC, for $785 million, subject to adjustments. The acquisition, expected to close in the second half of 2024, is anticipated to be accretive to Tradeweb's adjusted EPS in the first 12 months post-closing and align with its ROIC objectives. ICD's CEO Tory Hazard will report to Tradeweb President Thomas Pluta and join the Operating Committee.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:37 am

EADSY

SAVE

Spirit Airlines has reached an agreement with Airbus to defer the delivery of all ordered aircraft scheduled for Q2 2025 through the end of 2026 to 2030-2031, excluding direct-lease aircraft due in Q2 and Q3 2025. This deferral will improve Spirit's liquidity by approximately $340 million over the next two years, with no changes to deliveries scheduled for 2027-2029.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:31 am

TW

Bloomberg reported that Tradeweb is set to acquire the money-market fund portal ICD for $785 million, marking a significant expansion in its financial services offerings.

Portfolio Pulse from Charles Gross

April 08, 2024 | 10:30 am

EOG

TTE

TotalEnergies SE (NYSE:TTE) has acquired a 20% stake in the Dorado leases in the Eagle Ford shale gas domain from Lewis Energy Group, increasing its natural gas production capacity in Texas. This acquisition, making TotalEnergies a partner with EOG Resources, Inc. (NYSE:EOG) which holds the remaining 80%, is expected to boost TotalEnergies' net U.S. natural gas production by 50 million cubic feet a day (Mcf/d) in 2024, with potential for an additional 50 Mcf/d by 2028. TotalEnergies, the leading exporter of U.S. LNG in 2023, aims to expand its LNG export capacity to 15 Mt per year by 2030 with the Rio Grande LNG project. However, the company also announced a delay in the final investment decision (FID) for a new LNG project in Papua New Guinea to 2025.

Portfolio Pulse from Lekha Gupta

April 08, 2024 | 10:30 am

EGH

TKO

Endeavor Group Holdings, Inc. and its subsidiary TKO Group Holdings, Inc. have announced significant stock transactions with Vincent McMahon, totaling over $311M. Endeavor will purchase 1,642,970 shares of TKO's Class A common stock for $146.2M, expected to close by April 9, 2024. TKO will buy back 1,853,724 shares from McMahon for $165M, planning to retire these shares post-purchase, expected to close by April 10, 2024. TKO will finance this buyback with $150M in borrowings and cash on hand.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:12 am

DCO

Ducommun shares surged following the company's confirmation of receiving an unsolicited non-binding indication of interest at $60 per share from Albion River LLC.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:11 am

DCO

Ducommun has received an unsolicited, non-binding $60 per share offer from Albion River. The Board of Directors is reviewing the proposal to decide if it's in the best interest of the company and its shareholders. Shareholders are advised not to take any action at this time.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:07 am