Logistics startup Stord is acquiring the e-commerce fulfillment services operations of Pitney Bowes, which confirmed the sale of this small business segment amid ongoing strategic review, causing a 12% rise in Pitney Bowes' after-hours trading.
ESCO Technologies (NYSE:ESE) agreed to acquire Ultra Maritime's Signature Management & Power business for $550M, funded through cash and debt, with the new acquisition expected to generate $175M in revenue in 2024 as part of its aerospace and defense segment.
SM Energy (NYSE:SM) is reportedly in advanced talks to acquire Utah oil and gas producer XCL Resources for ~$3B, potentially expanding its operations into the Uinta Basin.
Shift4 has acquired a majority stake in Vectron, adding 65,000 European POS locations, and completed its acquisition of Revel Systems.
Penn Entertainment (NASDAQ:PENN) dropped 8.2% after an analyst stated that a strategic review is unlikely due to a clear ESPN Bet product roadmap, upcoming football season, and volatile interest rates impacting M&A.
Cerevel Therapeutics (NASDAQ:CERE) shares fluctuated amid concerns about the FTC's closed-door meeting potentially affecting AbbVie's planned $8.7 billion acquisition of the company.
Whirlpool Corp. (NYSE:WHR) rose 7% on Wednesday due to vague takeover speculation, with a market cap of $4.8 billion and 15.5% short interest.
Ready Capital (NYSE:RC) has acquired Madison One Capital, M1 CUSO, and Madison One Lender Services, firms specializing in USDA and SBA guaranteed loan products.
Target Hospitality (NASDAQ:TH) plunged 30% in after-hours trading due to reports that the Biden administration plans to close the Dilley detention center, its largest facility.
Noble Corporation plc will acquire Diamond Offshore Drilling, Inc. in a stock and cash transaction, where Diamond shareholders receive 0.2316 Noble shares and $5.65 per share in cash, representing an 11.4% premium, resulting in Diamond shareholders owning approximately 14.5% of Noble post-transaction.
