Streetbeat News

Acquisitions Mergers

AUVI

Applied UV (AUVI) announced that its subsidiary, Munnworks, has entered into a multi-year exclusive global licensing agreement with the purchase of the continuing business of Element Designs Collaborative. This strategic move aims to expand Applied UV's market presence and product offerings.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:31 pm

BRP

BRP Group has entered into a definitive agreement to sell its wholesale E&S insurance brokerage, Connected Risk Solutions, for an undisclosed sum. The transaction details, including the buyer and the financial terms, were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:28 pm

THC

Tenet Healthcare Corporation (THC) has agreed to sell two hospitals in San Luis Obispo County to Adventist Health for approximately $550 million. Additionally, Tenet's Conifer Health Solutions will provide revenue cycle services to Adventist Health. The sale includes Sierra Vista Regional Medical Center and Twin Cities Community Hospital, along with affiliated physician practices.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:46 am

TTE

TotalEnergies SE (NYSE:TTE) has signed a 16-year sale and purchase agreement with Sembcorp Fuels to deliver up to 0.8 million tons of LNG annually starting in 2027. This deal builds on an existing agreement running until 2029. Additionally, TotalEnergies recently announced partnerships for methane emission detection in India and a majority stake acquisition in the Tungsten Explorer drillship. The company also reported a revenue of $59.237 billion for Q4 FY23, surpassing estimates, despite a 12% decline in hydrocarbon production, and increased its quarterly dividends by 7.1% to €0.79.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 11:39 am

ENVB

Enveric Biosciences (NASDAQ:ENVB) has signed three non-binding term sheets with an undisclosed biotech company for the out-licensing of three classes of compounds from its drug portfolio for mental health treatments. These agreements include exclusive, royalty-bearing global licenses, cash buyout options, and future rights to related assets. The compounds, part of Enveric's over 1,000 novel molecules, are aimed at treating depression, anxiety, and addiction disorders. The potential licensing deals could bring Enveric up to $200 million in milestone payments and fees, plus royalties ranging from 2.5% to 10% on future sales.

Portfolio Pulse from Lara Goldstein

February 29, 2024 | 11:35 am

STER

Sterling Check has canceled its Q4 2023 earnings conference call due to its ongoing transaction with First Advantage. This decision reflects the significant developments in the transaction process between the two companies.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:28 am

EVRI

IGT

IGT's Global Gaming and PlayDigital businesses are set to merge with Everi, forming a comprehensive global gaming and fintech enterprise valued at approximately $6.2 billion. The merger aims to create a diverse portfolio across land-based, digital, and fintech gaming sectors, promising significant growth and synergy opportunities. The combined entity will be led by IGT CEO Vince Sadusky, with Everi Executive Chairman Michael Rumbolz as the chairman of the board. The deal assigns a $4.0 billion value to IGT's involved businesses and $2.2 billion to Everi.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:22 am

PSNY

Polestar (PSNY) announced that Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership will purchase shares of its joint venture for $208.4M USD.

Portfolio Pulse from Charles Gross

February 29, 2024 | 11:22 am

STER

Sterling Check shares are trading higher following the announcement that the company will be acquired by First Advantage for around $2.2 billion, including outstanding debt.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:20 am

FA

STER

First Advantage has agreed to acquire Sterling Check for $2.2 billion, including Sterling's outstanding debt. The deal includes $1.2 billion in cash and 27.15 million shares of First Advantage stock. Sterling shareholders can choose to receive $16.73 in cash or 0.979 shares of First Advantage stock per Sterling share. Entities affiliated with Goldman Sachs, owning 52.8% of Sterling, support the agreement.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:15 am