Streetbeat News

Acquisitions Mergers

RLGT

Radiant Logistics, Inc. (RLGT) has acquired Viking Worldwide, Inc., a Minnesota-based company specializing in logistics for various industries. The deal is structured with future payments based on Viking's performance. Viking, operating under the Service By Air brand since 2012, will transition to the Radiant brand in 2024. This acquisition aligns with Radiant's strategy of partnering with logistics entrepreneurs and expanding its network.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:12 pm

LNN

Lindsay Corporation has agreed to acquire a 49.9% minority interest in Austria-based Pessl Instruments GmbH, which has over 80,000 connected in-field data collection devices and 50,000 active customers. The deal, for which terms were not disclosed, is expected to close in the second half of fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:08 pm

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VRNOF

Following the Florida Supreme Court's decision to allow a constitutional amendment for legalizing recreational marijuana on the November 2024 ballot, cannabis companies, including Trulieve, have collectively contributed over $15 million in support. Trulieve had previously donated $40 million. The amendment, known as Amendment 3, aims to legalize non-medical personal use of marijuana for adults 21 or older and requires a 60% voter approval. Companies like Verano Holdings, Curaleaf Holdings, AYR Wellness, Cresco Labs, Green Thumb Industries, and INSA, Inc. are among the new donors. The funding announcement coincides with the upcoming Benzinga Cannabis Capital Conference in Florida.

Portfolio Pulse from Maureen Meehan

April 03, 2024 | 7:56 pm

EAF

Nilesh Undavia and the Undavia Group, holding approximately 5.9% of GrafTech International Ltd. (NYSE:EAF) shares, have issued a letter urging shareholders to vote for Undavia's election to the board at the upcoming Annual Meeting on May 9, 2024. The letter criticizes the current board for poor decision-making, including the appointment of the former CFO as CEO, environmental risk mismanagement, and excessive director compensation despite significant shareholder value destruction. Shares have dropped 90% since the IPO, and bonds trade at 64 cents on the dollar. Undavia aims to add an independent, large shareholder perspective to the board to revive GrafTech's market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

TGS

Transportadora De Gas Del Sur (TGS) has agreed with ENERGAS on a 675% increase in natural gas transportation tariffs starting April 2024, with further monthly adjustments from May 2024. Additionally, TGS commits to an AR$27.69 billion investment plan in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:47 pm

PARA

Paramount Global's stock is on the rise after reports emerged that its board members have opted for exclusive merger discussions with Skydance.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:39 pm

APO

PARA

Paramount's board has decided to engage in exclusive merger discussions with Skydance, despite Apollo Global Management's $26 billion offer for Paramount, as reported by WSJ.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:38 pm

COIN

Crypto VC firm Paradigm, co-founded by Coinbase Global Inc. (NASDAQ:COIN) co-founder Fred Ehrsam, is reportedly raising a new fund between $750 million and $850 million. This follows a period of increased fundraising activity in the crypto sector, despite Paradigm's recent challenges, including a leadership shift and involvement in a class-action lawsuit related to its investment in FTX. The firm continues to invest in the crypto industry, with significant investments like in Merkle Manufactory.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 7:33 pm

ORAAF

Aura Minerals (OTCQX:ORAAF) reported significant growth in its mineral reserves, with a notable stock performance increase of almost 16% over the last month. The company's exploration activities added 2.4 million ounces in measured and indicated reserves and 856,000 in proven and probable reserves. Key developments include increases in reserves at the Aranzazu mine in Mexico, Apoena mine in Honduras, and the Borborema project in Brazil. Aura Minerals also highlighted strong production results from the previous year and projected an increase in production for 2024, with net revenues surging by 164% since 2018.

Portfolio Pulse from Stjepan Kalinic

April 03, 2024 | 7:23 pm

PARA

Redstone and Skydance have reached a tentative agreement regarding Skydance acquiring a stake in Paramount, as reported by Bloomberg. This deal could potentially influence Paramount's strategic direction and financial health.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:22 pm