Streetbeat News

Acquisitions Mergers

WELL

Welltower Inc. plans to acquire a $969M portfolio of 25 active adult communities from Affinity Living Communities, forming a long-term strategic partnership. The acquisition, funded by cash and $523M of below-market rate debt, expands Welltower's Wellness Housing portfolio to nearly 25,000 units. The communities, mainly in the Pacific Northwest, are expected to cater to a rapidly growing 55+ population. The deal, closing in tranches, will see Affinity continue managing the properties under a terminable contract.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:49 pm

CDXS

Codexis, Inc. (CDXS) has secured a strategic financing deal worth up to $40 million with Innovatus Capital Partners to strengthen its cash position and support the development and commercialization of its ECO Synthesis manufacturing platform for RNAi therapeutics. The deal includes $30 million upfront and an additional $10 million upon reaching certain revenue thresholds. This financing is expected to extend Codexis' cash runway through the end of 2026 and support the creation of an ECO Synthesis Innovation Lab for siRNA production.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:47 pm

SCVL

Shoe Carnival has announced the acquisition of Rogan Shoes for a total of $45 million. This strategic move is aimed at expanding Shoe Carnival's footprint and product offerings.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:44 pm

GHLD

Guild Mortgage (NYSE:GHLD) is set to acquire the retail lending assets of Academy Mortgage, significantly expanding its market presence. This acquisition will add approximately 200 branches and over 1,000 employees, including more than 600 licensed mortgage originators, to Guild. The deal is expected to increase Guild's annual origination volume by 25%, making it the 8th largest non-bank retail mortgage lender in the U.S. Both companies share a strong commitment to the purchase mortgage market and customer service, with Academy's branches transitioning to the Guild brand post-acquisition. Academy Mortgage CEO Adam Kessler will join Guild's senior leadership team. The transaction is seen as a strategic move to enhance Guild's platform, increase market share, and create long-term value by leveraging synergies and focusing on the purchase mortgage market.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:41 pm

ABNB

Airbnb Inc (NASDAQ:ABNB) reported a 17% increase in Q4 revenue to $2.22 billion, surpassing estimates. The company experienced a quarterly loss of 55 cents per share but saw gross booking value rise by 15% to $15.5 billion. Airbnb announced a $6 billion share repurchase program and provided an optimistic outlook for Q1 revenue and full-year adjusted EBITDA growth.

Portfolio Pulse from Adam Eckert

February 13, 2024 | 9:34 pm

MACK

Merrimack Pharmaceuticals announced that Ipsen's FDA approval of the supplemental New Drug Application (sNDA) for Onivyde has triggered a $225 million payment from Ipsen to Merrimack. This milestone payment is part of the terms agreed upon in the licensing deal between the two companies.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:24 pm

AKAM

Akamai Technologies (NASDAQ:AKAM) announced its new initiative, Gecko, aiming to integrate cloud computing capabilities into its edge network, making it the world's most distributed cloud computing platform. Gecko is designed to bring workloads closer to users by leveraging Akamai's extensive edge network, enhancing performance and reducing latency for applications requiring high-speed data processing. This move aligns with increasing demand for distributed cloud services and positions Akamai to capitalize on emerging technology trends such as AI, gaming, and IoT. The initiative follows Akamai's acquisition of Linode and the expansion of its cloud computing regions, furthering its vision for a connected cloud that combines the power of cloud computing with the efficiency of edge networks.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:21 pm

ROKU

Roku shares are trading lower after reports emerged that Walmart is in discussions to acquire Vizio, potentially impacting Roku's market position.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:49 pm

VZIO

WMT

VIZIO shares have seen an increase after a Wall Street Journal report indicated that Walmart is negotiating to acquire the company for over $2 billion.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:47 pm

VZIO

WMT

Walmart is currently in discussions to acquire TV manufacturer Vizio, as reported by the Wall Street Journal. This move could significantly expand Walmart's electronics offerings and potentially increase its competitiveness in the retail sector.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:09 pm