Streetbeat News

Acquisitions Mergers

GLYC

GlycoMimetics is set to merge with Crescent Biopharma, securing $200M funding to advance their oncology pipeline. The combined company will focus on Crescent's biologics for solid tumors, with key programs including CR-001, CR-002, and CR-003. The funding is expected to support operations through 2027.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 11:25 am

SXI

Standex International Corporation has acquired Amran Instrument Transformers and Narayan Powertech Pvt. Ltd. for a combined enterprise value of $462 million. These acquisitions are expected to enhance Standex's capabilities and market reach.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 11:11 am

ITT

ITT has updated its 2024 guidance, raising its revenue and operating margin expectations. The company now anticipates adjusted EPS of $5.80-$5.86, with revenue growth of 10%-12%. Despite additional expenses from the kSARIA acquisition, ITT projects strong financial performance.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:38 am

CECO

CECO Environmental's shares fell after reporting disappointing Q3 results and lowering its annual revenue outlook. The company also acquired Profire Energy for $2.55 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:38 am

CLVT

Silverchair has entered into a definitive agreement with Clarivate to acquire ScholarOne. The acquisition is expected to close in Q4 2024, pending customary closing conditions. Terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:32 am

CECO

PFIE

CECO Environmental has agreed to acquire Profire Energy in an all-cash transaction valued at $2.55 per share. The deal, approved by Profire's Board, values Profire at approximately $125 million in equity and $108 million in enterprise value.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 10:05 am

BP

BP expects slightly higher upstream production in 2024 compared to 2023, with divestments exceeding $3 billion. Growth is anticipated in convenience and Castrol, while refining margins are expected to be lower. BP completed acquisitions of BP Bunge Bioenergia and Lightsource BP.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:36 am

SATS

EchoStar has amended the terms of its note exchange with DISH Network ahead of its acquisition of DIRECTV. This amendment allows for the transfer of new secured notes.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 7:11 am

PLRZ

Polyrizon has announced a $4.2 million initial public offering, pricing 958,903 units at $4.38 per unit. The proceeds will be used for product development, debt repayment, and potential acquisitions.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 6:06 am

M

SIRI

WW

Sierra, an AI startup co-founded by Bret Taylor, has reached a $4.5 billion valuation after a successful funding round. This positions Sierra above established brands like Nikon and Macy's in terms of market capitalization. The company specializes in AI-powered customer service chatbots and serves clients such as WeightWatchers and SiriusXM.

Portfolio Pulse from Ananya Gairola

October 29, 2024 | 5:39 am