Key Takeaways Chevron projects a $200M-$400M after-tax Q3 earnings drag from integrating Hess.Excluding one-time charges, adjusted earnings face a $50M-$150M negative impact.Hess assets add 450K-500K barrels per day, despite some operational downtime.Chevron Corporation ((CVX) recently finished its major acquisition of Hess, but the financial costs of merging the two massive companies will temporarily hit its short-term results. The U.S. oil giant disclosed that it expects the merger to reduce its third-qua ...

Dick's Sporting goods closed the acquisition of Foot Locker earlier this month. Brandon Bell / Getty Images Close Key Takeaways Dick's Sporting Goods (DKS) stock is getting cheers from Goldman Sachs after the retailer's $2.4 billion purchase of rival Foot Locker closed earlier this month. The analysts wrote in a note to clients that a "strong sporting goods industry backdrop along with the global reach and scale of the combined company should result in even stronger vendor relationships which will further d ...

Goldman Sachs' outlook for mergers and acquisitions has become more optimistic, fueled by consolidation in various industry sectors and likely acceleration in private equity-backed deals, its President John Waldron said on Thursday. ...

The company’s leading drug candidate, RMC-6236, also called daraxonrasib, made headlines recently when the company released a set of clinical trial results that support initiating the RASolute 303 global Phase 3 registrational trial of the drug as a treatment for first-line metastatic pancreatic ductal adenocarcinoma. This is a particularly dangerous form of pancreatic cancer, and existing treatments have, at best, limited efficacy.It’s not an easy approach, however. RAS mutations occur in about one-third o ...

Federal Signal Corporation (NYSE: FSS) said Wednesday it will acquire Scranton Manufacturing Company Inc., known as New Way Trucks, in a $396 million deal, plus $30 million for facilities in Iowa and Mississippi. The agreement also includes up to $54 million in performance-based earnouts. New Way, a family-owned business, is among the fastest-growing makers of refuse collection vehicles in the U.S. Its lineup includes rear, front, and automated side loaders, with a strong presence among municipal and privat ...

Vista is taking on a new role: Coordinating and underwriting debt deals for companies it owns, allowing it to collect additional fees as the market for mergers and acquisitions remains muted https://t.co/SwTdWxSlEU ...

By Scott Murdoch SYDNEY (Reuters) -Nearly $40 billion worth of big ticket buyouts have collapsed in Australia this year - the most in fifteen years - as regulatory risk and misaligned valuations add to the growing challenges in navigating an increasingly stringent regulatory environment. An ADNOC-led consortium's decision to walk away from its $18.7 billion bid for Santos , Australia's second largest gas producer, is the latest in a string of high-profile deals to collapse in Australia this year. The ...

Core Viewpoint - Activist investor Scott Ferguson is joining the board of Performance Food Group, advocating for a potential merger with rival US Foods Holding [1][2] Group 1: Board Changes and Strategic Discussions - Ferguson's appointment increases Performance Food's board to 13 members, and he will join the Audit and Finance Committee, where M&A transactions and strategic alternatives are discussed [3] - Ferguson may also participate in any newly created committee to evaluate strategic alternatives or extraordinary transactions [3] Group 2: Background and Previous Engagements - Sachem Head Capital Management, led by Ferguson, nominated four director candidates to Performance Food's board less than five weeks ago and has a history in the food distribution sector [2][5] - Ferguson previously served on the board of US Foods and has experience in navigating boardroom dynamics [6] Group 3: Market Position and Competitive Landscape - A merger between Performance Food and US Foods could position them to compete more effectively against industry leader Sysco, which holds a 17% market share [2] - The recent "clean team agreement" signed between Performance Food and US Foods is viewed as a potential precursor to a deal [7]

Summary of Advanced Drainage Systems Conference Call Company Overview - **Company**: Advanced Drainage Systems (NYSE: WMS) - **Acquisition Target**: National Diversified Sales (NDS), a leader in residential stormwater and irrigation access boxes - **Transaction Value**: $1 billion in an all-cash transaction [3][12] Key Points of the Acquisition - **Strategic Fit**: The acquisition is seen as highly complementary to Advanced Drainage Systems' water management strategy, enhancing exposure to the residential segment and resilient applications such as residential repair and landscape irrigation [4][10] - **Financial Metrics**: The acquisition represents a valuation multiple of approximately 10 times NDS' adjusted EBITDA from the trailing 12 months ended June 30, 2025, inclusive of expected run-rate cost synergies [3][13] - **Expected Synergies**: Advanced Drainage Systems anticipates $25 million in annual cost synergies by year three post-acquisition [4][11] Growth and Diversification Strategy - **Historical Context**: In 2016, nearly 75% of Advanced Drainage Systems' revenue came from the pipe segment. The company has since diversified its product portfolio and geographic mix, aiming for higher-margin, more profitable business segments [6][10] - **Impact of Previous Acquisitions**: The acquisition of Infiltrator in 2019 significantly contributed to this diversification, doubling annual sales with a 17% sales growth CAGR [8] - **Future Projections**: Post-acquisition, approximately 50% of company revenues will come from higher growth and more profitable allied products and Infiltrator segments [6] Market Position and Opportunities - **Market Reach**: NDS generates nearly 90% of its sales in the United States, primarily operating in North America, and is recognized for its expertise in small-scale drain basins and irrigation solutions [5][10] - **Addressable Market**: The acquisition allows Advanced Drainage Systems to tap into the $1.5 billion landscape irrigation market, enhancing cross-selling opportunities and expanding its product offerings [10] Financial Outlook - **Pro Forma Revenue**: The combined entity is expected to have pro forma revenue exceeding $3 billion with an adjusted EBITDA margin of approximately 31% [11] - **Debt Management**: The acquisition will be funded through cash on hand and existing revolving credit facilities, with pro forma net debt expected to be 1.6 times at closing, within the targeted leverage range [12] Conclusion - **Integration Confidence**: Advanced Drainage Systems expresses confidence in its ability to integrate NDS effectively, leveraging proven integration capabilities to drive growth and profitability [14] - **Future Updates**: The transaction is expected to close in the first calendar quarter of 2026, pending regulatory approvals [14]

Mergers and acquisitions and private markets will rebound when the next Federal Reserve chair is appointed, according to Marathon Asset Management Chairman Bruce Richards https://t.co/ok2UG5hvi6 ...