New On The Block
- Kinetik Holdings Inc (NYSE:KNTK), the Blackstone-backed Delaware Basin pipeline operator, is weighing strategic alternatives, including a potential sale, Bloomberg reports.
Updates From The Block
- Labcorp (NYSE:LH) acquired MLM Medical Labs, a specialty laboratory provider with operations across the United States, Germany and South Africa. Financial terms of the transaction were not disclosed.
- Chime (NASDAQ:CHYM) bought Stride Bank, N.A. for $590 million in cash. Upon closing, Stride will become Chime Bank, N.A. and operate as a wholly owned subsidiary of Chime. The transaction is expected to close in the first half of 2027, subject to approvals by the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, and the satisfaction of other customary closing conditions.
- John Marshall Bancorp, Inc. (NASDAQ:JMSB) acquired Eagle Financial Services, Inc. (NASDAQ:EFSI) in an all-stock transaction valued at approximately $253 million. The transaction is expected to close early in the first quarter of 2027, subject to regulatory approvals.
- Bending Spoons (NASDAQ:BSP) purchased digital collaboration platform Miro in an all-cash transaction valuing the company at an enterprise value of $1.355 billion.The acquisition is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
- Eir Partners, an investment firm specializing in healthcare technology and tech-enabled services, acquired Accumulus Technologies for an undisclosed price. Accumulus will continue to operate under its existing leadership and remain focused on serving the global life sciences regulatory ecosystem.
- Constellation (NASDAQ:CEG) will acquire RISEC Holdings, owner of the Rhode Island State Energy Center, from Shell Energy North America, for $715 million. The transaction is expected to close after customary regulatory approvals and satisfaction of other closing conditions. Until closing, RISEC will continue to operate under its current ownership.
- Dollar Shave Club Inc. purchased Truly Beauty to further expand into women’s grooming, applying the same marketing engine and operating infrastructure to a new consumer and category. Financial terms of the transaction were not disclosed.
- Circle has agreed to acquire Singapore-based cross-border payments infrastructure company Tazapay in an all-stock transaction valued at $400 million. The transaction is expected to close in 2027, subject to regulatory approvals.
- Analog Devices, Inc. (NASDAQ: ADI) has bought Alif Semiconductor in an all-cash transaction valued at $1.35 billion. The transaction is expected to close before the end of 2026, subject to customary closing conditions and the expiration of the applicable waiting period (and any extension thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Off The Block
- The Cooper Companies, Inc. (NASDAQ:COO) completed its strategic review and decided not to sell CooperSurgical, concluding that shareholders would benefit more from continued ownership. The company said recent developments, including a new competitor in the non-hormonal IUD market and a fertility litigation settlement, weighed on potential offers and created a valuation gap that made a sale unattractive.
- Truecaller completed its $15 million acquisition of TextPlus, expanding its U.S. presence and adding complementary communications services such as second phone numbers and VoIP calling. TextPlus will continue operating as a separate brand but was consolidated into Truecaller effective Sept. 9.
- Eli Lilly and Company (NYSE:LLY) completed its acquisition of AtaiBeckley Inc., a clinical-stage biopharmaceutical company developing rapid-acting neuroplastogens for mental health conditions. AtaiBeckley shareholders approved the transaction at a special meeting held before closing.
Bankruptcy Block
- LIV Golf filed for Chapter 11 bankruptcy as it seeks to reshape its business. According to the court filing, LIV estimated its assets between $100 million and $500 million, and its liabilities between $500 million and $1 billion, and has between 1,000 and 5,000 creditors.
- Santa Monica-based Marmalade Cafe filed for Chapter 11 bankruptcy amid rent disputes and increasing supplier debts, the New York Post reported. The Cafe, which once had eight restaurants, has dwindled to just two. The Calabasas location closed on August 1, and the Santa Monica location closed in July. The filing showed the company had $12.7 million in total assets, while reporting a net loss of $680,314. The company listed between 50 and 99 creditors. Its unsecured debt totaled more than $2.4 million.
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