Gain detailed insights into the trading activity of Congress members for KKR on our government trades page. Stay updated on how elected officials are investing in KKR.

KKR - Government Trades

KKR & Co

KKR is one of the world's largest alternative asset managers, with $624.4 billion in total managed assets, including $505.7 billion in fee-earning AUM, at the end of September 2024. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance).

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Businessmen,Making,Handshake,With,Partner,,Greeting,,Dealing,,Merger,And,Acquisition,

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Henry Schein shares up on strategic investment from KKR, management appointments, share buyback, and preliminary results.

KKR Sinks Its Teeth Into Henry Schein With Additional Investment And Board Seats: Details

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As part of the settlement, Blackstone will pay $12 million, while KKR will contribute $11 million. 

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KKR & Co Inc

KATAKURA INDSTRS CO LTD by Katakura Industries Co Ltd

Katakura Industries Co Ltd

KKR Group Finance Co. IX LLC 4.625% Subordinated Notes due 2061

KKR Income Opportunities Fund Common Shares

KKR Income Opportunities Fund

KKR Real Estate Finance Trust Inc. Common Stock

KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. 6.50% Series A Cumulative Redeemable Preferred Stock

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Goldman Sachs analyst Kate McShane downgraded the rating for Floor &amp; Decor Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FND#NYSE">FND</a>) from Neutral to Sell and maintained the price target of $79. Floor &amp; Decor shares closed at $102.13 on Wednesday. <a href="https://www.benzinga.com/quote/FND/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Sami Corwin downgraded CARGO Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGX#NASDAQ">CRGX</a>) from Outperform to Market Perform. Cargo Therapeutics shares closed at $13.19 on Wednesday. <a href="https://www.benzinga.com/quote/CRGX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo analyst Mohit Bansal downgraded the rating for Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) from Overweight to Equal-Weight and maintained the price target of $460. Vertex Pharmaceuticals shares closed at $441.52 on Wednesday. <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HSBC analyst Vikram Gandhi downgraded KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) from Buy to Hold but raised the price target from $153 to $173. KKR shares closed at $166.30 on Wednesday. <a href="https://www.benzinga.com/quote/KKR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital analyst Michael Zaremski downgraded the rating for Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) from Outperform to Market Perform and lowered the price target from $453 to $375. Everest Group shares closed at $351.51 on Wednesday. <a href="https://www.benzinga.com/quote/EG/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying EG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30064140/image-256-1024x458.png" alt="" class="wp-image-757819" style="width:631px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30064140/image-256-1024x458.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30064140/image-256-300x134.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30064140/image-256-768x343.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30064140/image-256.png 1387w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Providing a diverse range of perspectives from bullish to bearish, 9 analysts have published ratings on KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) in the last three months.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for KKR, presenting an average target of $169.0, a high estimate of $185.00, and a low estimate of $151.00. This current average reflects an increase of 5.77% from the previous average price target of $159.78. 
<img src="https://www.benzinga.com/files/images/story/2025/1738245663_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The analysis of recent analyst actions sheds light on the perception of KKR by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vikram Gandhi</td>
<td>HSBC</td>
<td>Raises</td>
<td>Hold</td>
<td>$173.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$151.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Kyle Voigt</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$168.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Kyle Voigt</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$170.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$163.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Chris Kotowski</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$175.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$185.00</td>
<td>$166.00</td>
</tr>
<tr>
<td>Alexander Blostein</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$177.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$159.00</td>
<td>$158.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to KKR. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of KKR compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of KKR's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of KKR's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KKR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on KKR analyst ratings.</a>
<h2>About KKR</h2>
KKR is one of the world's largest alternative asset managers, with $624.4 billion in total managed assets, including $505.7 billion in fee-earning AUM, at the end of September 2024. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance).
<h3>KKR: A Financial Overview</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: KKR's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 44.56%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: KKR's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 12.69%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): KKR's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.62%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): KKR's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.17%, the company may face hurdles in achieving optimal financial performance.
Debt Management: KKR's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.1, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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A Glimpse Into The Expert Outlook On KKR Through 9 Analysts

KKR's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) short percent of float has fallen 7.47% since its last report. The company recently reported that it has 10.89 million shares sold short, which is 1.61% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.18 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>KKR Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738242021_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for KKR has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing KKR's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, KKR's peer group average for short interest as a percentage of float is 3.33%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About KKR?

HSBC analyst Vikram Gandhi downgrades KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) from Buy to Hold and raises the price target from $153 to $173.

HSBC Downgrades KKR to Hold, Raises Price Target to $173

Henry Schein, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) shares are trading higher on Wednesday. The medical and dental supplies distributor disclosed a strategic investment of an additional $250 million from funds affiliated with KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>).
With this investment, KKR will become the largest non-index fund shareholder, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43298127/henry-schein-announces-strategic-investment-by-kkr-board-changes-and-provides-preliminary-unaudite" rel="noreferrer noopener">holding a 12% stake in the company.</a>
The company will also have the option to increase its equity stake up to 14.9% through open market purchases. Henry Schein and KKR will collaborate on a range of value-creation opportunities.
Henry Schein will issue new shares of common stock to funds affiliated with KKR for a $250 million investment based on the market price.
KKR is primarily funding this investment through North America Fund XIII. The completion of the transactions is subject to standard closing conditions.
As part of the arrangement between Henry Schein and KKR, Max Lin and William Daniel will join Henry Schein's Board of Directors as independent directors. Additionally, the Board has appointed Robert Hombach as an independent director.
In addition, Henry Schein&#8217;s Board has authorized an increase of $500 million to its share repurchase program, with $250 million to be executed through accelerated share repurchases.
Preliminary Results: Henry Schein sees fourth-quarter preliminary revenue of $3.2 billion (vs. consensus of $3.35 billion), bringing the 2024 revenue to $12.7 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(vs. street view of $12.8 billion)</a>.&nbsp;&nbsp;
The company sees fourth-quarter preliminary adjusted EPS of $1.19 (vs. consensus of $1.23) and 2024 adjusted EPS of $4.74 (vs. consensus of $4.78).
2025 Outlook: Henry Schein expects both revenues and adjusted EPS to grow in the range of low to mid-single digits in 2025.
The company projects adjusted EBITDA to grow in a <a href="https://www.benzinga.com/calendars/guidance">mid-single-digit range in 2025.</a>
The company plans to release its fourth quarter and full-year 2024 financial results <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">on Tuesday, February 25, 2025</a>.
Investors can gain exposure to HSIC via AdvisorShares Focused Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWS#NYSE">CWS</a>) and Invesco Bloomberg Analyst Rating Improvers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPGD#NYSE">UPGD</a>).
Price Action: HSIC shares are up 6.48% at $81.03 at the last check Wednesday.
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Photo via Shutterstock.

<a href="https://www.wsj.com/business/deals/kkr-builds-stake-in-medical-supply-company-reaches-deal-for-board-seats-ed915f3c?mod=Searchresults_pos1&amp;page=1" title="https://www.wsj.com/business/deals/kkr-builds-stake-in-medical-supply-company-reaches-deal-for-board-seats-ed915f3c?mod=Searchresults_pos1&amp;page=1">https://www.wsj.com/business/deals/kkr-builds-stake-in-medical-supply-company-reaches-deal-for-board-seats-ed915f3c?mod=Searchresults_pos1&amp;page=1</a>

Insider Trades

The Wall Street Journal Reported KKR Has Taken A Big Stake In Henry Schein, Will Get Two Board Seats

As of Jan. 28, 2025, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Southern Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>)</h3>
<ul>
<li>Southern Company will release its earnings for the fourth quarter of 2024 on Thursday, Feb. 20. The company's stock surged around 5% over the past month and has a <a href="https://www.benzinga.com/quote/SO">52-week high of $94.45</a>.</li>
<li>RSI Value: 70.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>SO Price Action: Shares of Southern gained 3.6% to close at $86.50 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Exelon Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>)</h3>
<ul>
<li>On Jan. 21, Evercore ISI Group analyst Durgesh Chopra upgraded Exelon from In-Line to Outperform and raised the price target from $43 to $44.. The company's stock gained around 8% over the past month and <a href="https://www.benzinga.com/quote/EXC">has a 52-week high</a> of $41.18.</li>
<li>RSI Value: 73.6</li>
<li>EXC Price Action: Shares of Exelon gained 3.4% to close at $40.70 on Monday.</li>
</ul>
<h3 class="wp-block-heading">American Electric Power Company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>)</h3>
<ul>
<li>On Jan. 9, the company announced that a 50/50 strategic partnership between KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and PSP Investments has agreed to acquire 19.9% non-controlling equity interest in its Ohio and Indiana &amp; Michigan Transmission Companies (Transcos) for $2.82 billion.. The company's stock gained around 11% over the past month and has a <a href="https://www.benzinga.com/quote/AEP">52-week high</a> of $105.17.</li>
<li>RSI Value: 84.5</li>
<li>AEP Price Action: Shares of American Electric Power gained 4.5% to close at $102.63 on Monday.</li>
</ul>
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WIIM

ARES

BBAR

BSBR

CNCK

CRBG

GGAL

GRNQ

HOOD

INTR

NTRS

UPST

Shares of companies within the banking and financial sector are trading lower amid overall market weakness as investors react to developments regarding advancements in Chinese artificial intelligence. Additionally, investors could be assessing the economic impact of potential tariffs and trade uncertainty.

KKR Extends FUJI SOFT Tender Offer Deadline To February 7 Amid Bain Capital's Potential Rival Bid

<a href="https://www.bloomberg.com/news/articles/2025-01-22/kkr-combines-157-billion-infrastructure-real-estate-businesses?srnd=all" title="https://www.bloomberg.com/news/articles/2025-01-22/kkr-combines-157-billion-infrastructure-real-estate-businesses?srnd=all">https://www.bloomberg.com/news/articles/2025-01-22/kkr-combines-157-billion-infrastructure-real-estate-businesses?srnd=all</a>

'KKR Moves Its Infrastructure And Real Estate Assets Under The Same Leadership; Raj Agrawal Will Become KKR's Global Head Of Real Assets; Raj Agrawal Will Become KKR's Global Head Of Real Assets, Adding To Current Responsibilities As Global Head Of Infrastructure' - Bloomberg News

President Joe Biden prioritized <a href="https://www.benzinga.com/markets/cannabis/25/01/43054504/biden-commutes-sentences-of-nearly-2500-convicted-of-non-violent-drug-offenses-no-mention-of-cannabis-prisoners">freeing non-violent drug offenders</a> during his final few days in the White House, but TikTok? That's President-elect Donald Trump's problem now. 
According to the <a href="https://apnews.com/article/tiktok-ban-trump-executive-order-1e95d9836bf6f8c0c245ed1c3234d968">Associated Press</a>, Biden has no intention of enforcing the ban, which takes effect on his last full day in office, Jan. 19, and one day <a href="https://www.benzinga.com/news/25/01/42995328/trump-inauguration-from-elon-musk-jeff-bezos-to-barack-obama-george-bush-and-bill-clinton-who-all-will-attend">before Trump&#8217;s inauguration</a>.
With a deadline looming, the app's fate lands in the hands of the so-called People's Bid for TikTok—backed by none other than Kevin O'Leary of &#8220;Shark Tank&#8221; and billionaire Frank McCourt. Apparently, TikTok's U.S. assets are still up for grabs, but no word yet on the price tag or whether a deal can realistically get done <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">in a few days</a>.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Joann Inc. is stitching together a bankruptcy plan for the second time within 12 months. The Ohio-based fabric and crafts retailer is seeking a buyer for its portfolio of some 800 stores. 
Gordon Brothers Retail Partners emerged as the &#8220;stalking horse&#8221; bidder, but Joann remains hopeful for better offers—perhaps from someone who knows how to thread the needle.
Previously, the 82-year-old retailer was under the stewardship of private equity firm Leonard Green &amp; Partners, which acquired it via a $1.6 billion leveraged buyout in 2011. The firm buried the company under a pile of debt (<a href="https://wolfstreet.com/2024/03/18/brick-and-mortar-meltdown-fells-another-retailer-joann-inc-files-for-bankruptcy-3-years-after-ipo/">reportedly</a> $921 million in long-term debt as of Oct. 31, 2020) and <a href="https://www.benzinga.com/news/21/03/20048728/ipo-preview-roblox-coupang-joann-lead-busy-week-of-offerings">sent it public in 2021</a>. 
Joann went private again in <a href="https://apnews.com/article/joann-bankruptcy-chapter-11-filing-75093d4032907c59a45e472dd4e23229">March</a> 2024 while under Chapter 11 bankruptcy protection. The company managed to reduce its $1 billion total debt by about $500 million at the time.
Despite efforts to save itself last year, Joann is joining the growing quilt of recent retail casualties: Party City, Big Lots, LL Flooring, The Body Shop and The Container Store <a href="https://www.benzinga.com/news/legal/24/12/42710619/deal-dispatch-party-city-wraps-big-lots-goes-bust-container-store-continues">to name a few</a>.
Kirkland &amp; Ellis is handling legal matters, while Centerview Partners LLC offers financial advice. Alvarez &amp; Marsal North America, LLC is overseeing the restructuring process.
<h2 class="wp-block-heading">New On The Block</h2>
<ul>
<li>Investment firm KKR &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) hired Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) to run an auction for its minority stake in Philippine fintech company Maya, Reuters reported. </li>
<li>New York-headquartered KKR owns more than 20% of Maya and the potential sale, if it goes through, could value Maya at more than $2 billion, one of the sources said.</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) is looking to <a href="https://www.benzinga.com/news/large-cap/25/01/43028181/chemical-company-dupont-electronics-business-separation-retains-water-business">jettison its electronics business</a>. The Wilmington, Delaware-based company expects the transaction to be completed by Nov. 1. DuPont also decided to retain its water business after evaluating strategic alternatives.</li>
<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) is shopping its Performance Chemicals Industrial Specialties segment, which includes divesting parts of its North Charleston, South Carolina site. The company hopes to improve earnings cash flow and conclude the review process by year-end. Whether a transaction comes about <a href="https://www.benzinga.com/news/25/01/43027745/ingevity-explores-strategic-options-for-performance-chemicals-segment-to-strengthen-portfolio-projects-fy24-revenue-at-1-40-billion">remains to be seen</a>. </li>
<li>S&amp;W Seed Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANW#NASDAQ">SANW</a>) is up for sale. It&#8217;s also considering a merger or recapitalization as part of a larger strategic review. The Longmont, Colorado-based company has already sold its Australia subsidiary. &#8220;We continue to support all initiatives that optimize shareholder value and will consider the full range of potential strategic alternatives to ensure S&amp;W Seed is best positioned for future success,&#8221; chairman Alan Willits said.</li>
</ul>
See Also: <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">Starship Explodes During Flight Test, Elon Musk Says: &#8216;Success Is Uncertain, But Entertainment Is Guaranteed!&#8217;</a>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>Lourenco Goncalves raised eyebrows during a Monday press conference. According to <a href="https://www.bloomberg.com/news/articles/2025-01-14/cliffs-ceo-rips-evil-japan-and-doubles-down-on-america-first">Bloomberg</a>, the CEO of Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) called Japan, a U.S. ally, &#8220;evil&#8221; and accused it of teaching China harmful practices like dumping and overproduction. His comments came as Cleveland-Cliffs eyes a new bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), following Biden&#8217;s decision to block Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42787508/biden-blocks-14-9b-us-steel-takeover-shares-plunge">$14 billion acquisition attempt</a>. While positioning his company as a potential buyer, Goncalves&#8217; rhetoric escalated tensions within the steel industry. Nippon is now looking to Trump to <a href="https://www.benzinga.com/news/25/01/42994950/nippon-steel-eyes-trump-administration-to-revive-15b-us-steel-deal-blocked-by-biden-well-do-whatever-it-takes">help close the deal</a>. </li>
<li>T-Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) will buy Vistar Media for $600 million. The telecom company expects the deal to strengthen its advertising business, Reuters reported. </li>
</ul>
Deals in the biotech and pharmaceutical sectors piled up this week. Here&#8217;s a sample of Benzinga&#8217;s coverage:
<ul>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) submitted an unsolicited bid to acquire all of the outstanding shares of Sage Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) that it does not already own <a href="https://www.benzinga.com/25/01/42957657/biogens-push-for-sage-therapeutics-could-strengthen-its-neurology-strategy-analysts-say">for $7.22 per share</a>. Goldman Sachs analyst Salveen Richter believes the proposal makes strategic sense, considering the financial success of the Zurzuvae launch for postpartum depression (PPD).</li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) <a href="https://www.benzinga.com/25/01/42950025/gsk-to-buy-us-based-stomach-cancer-drug-developer-for-over-1-billion">agreed to acquire</a> IDRx, Inc., a biopharmaceutical company focused on precision therapeutics for gastrointestinal stromal tumors (GIST), for $1 billion. The deal may require an additional $150 million from GSK after certain regulatory approval milestones. </li>
<li>Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) scooped up Scorpion Therapeutics&#8217; early-stage <a href="https://www.benzinga.com/25/01/42949261/eli-lilly-scoops-up-scorpion-therapeutics-early-stage-cancer-program-for-25-billion">cancer program for $2.5 billion</a>. </li>
<li>Like Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) and AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is seeking to bolster its neuropsychiatric portfolio<a href="https://www.benzinga.com/general/biotech/25/01/42948170/like-bristol-myers-squibb-and-abbvie-johnson-johnson-seeks-to-bolster-neuropsychiatric-portfolio-with-15-billion-deal"> with a $15 billion deal</a></li>
<li>Crown Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) offered to acquire all outstanding common shares of Revance Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) at $3.10 per share.</li>
<li>Salarius Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) agreed to a deal with Decoy Therapeutics, a preclinical biotech focused on peptide conjugate therapeutics. The merged entity will target unmet needs in respiratory diseases and GI oncology.</li>
<li>Lantheus Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNTH#NASDAQ">LNTH</a>) strengthens its radiopharmaceutical position with<a href="https://www.benzinga.com/m-a/25/01/42937565/lantheus-strengthens-radiopharmaceutical-leadership-with-350m-acquisition-of-life-molecular-imaging"> $350 million acquisition of Life Molecular Imaging</a>.</li>
</ul>
For last week&#8217;s edition of Deal Dispatch, <a href="https://www.benzinga.com/ma/25/01/42921113/deal-dispatch-td-bank-charles-schwab-eyenovia-smart-share-hit-auction-block">click here</a>.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/real-estate/25/01/43055513/eccentric-billionaire-howard-hughes-former-miami-estate-on-market-for-55-5-million">Eccentric Billionaire, Legendary Filmmaker Howard Hughes&#8217; Former Miami Estate On Market For $55.5 Million</a></li>
</ul>
Image created with a photo from Shutterstock.

High-rolling investors have positioned themselves bullish on KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in KKR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for KKR. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $36,000, and 7 calls, totaling $3,306,877.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $175.0 for KKR, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for KKR options trades today is 469.0 with a total volume of 1,308.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for KKR's big money trades within a strike price range of $90.0 to $175.0 over the last 30 days.
<h3>KKR 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737140434_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$66.1</td>
<td>$63.9</td>
<td>$65.0</td>
<td>$90.00</td>
<td>$1.2M</td>
<td>1.2K</td>
<td align="right">400</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$65.6</td>
<td>$65.0</td>
<td>$65.0</td>
<td>$90.00</td>
<td>$663.0K</td>
<td>1.2K</td>
<td align="right">202</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$14.6</td>
<td>$13.6</td>
<td>$13.75</td>
<td>$175.00</td>
<td>$548.6K</td>
<td>180</td>
<td align="right">400</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$65.1</td>
<td>$65.0</td>
<td>$65.0</td>
<td>$90.00</td>
<td>$325.0K</td>
<td>1.2K</td>
<td align="right">100</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$65.9</td>
<td>$65.0</td>
<td>$65.0</td>
<td>$90.00</td>
<td>$325.0K</td>
<td>1.2K</td>
<td align="right">0</td>
</tr>
</tbody>
</table>

<h3>About KKR</h3>
KKR is one of the world's largest alternative asset managers, with $624.4 billion in total managed assets, including $505.7 billion in fee-earning AUM, at the end of September 2024. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance).
In light of the recent options history for KKR, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of KKR</h3>
<ul>
<li>Trading volume stands at 2,073,560, with KKR's price up by 2.76%, positioned at $157.47.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 20 days.</li>
</ul>
<h3>What Analysts Are Saying About KKR</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $163.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on KKR with a target price of $151. 
&#x2A; Consistent in their evaluation, an analyst from Keefe, Bruyette &amp; Woods keeps a Outperform rating on KKR with a target price of $170. 
&#x2A; An analyst from Keefe, Bruyette &amp; Woods has decided to maintain their Outperform rating on KKR, which currently sits at a price target of $168. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KKR options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Looking At KKR's Recent Unusual Options Activity

KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) has outperformed the market over the past 10 years by 9.32% on an annualized basis producing an average annual return of 20.53%. Currently, KKR has a market capitalization of $138.04 billion. 
Buying $100 In KKR: If an investor had bought $100 of KKR stock 10 years ago, it would be worth $662.73 today based on a price of $155.41 for KKR at the time of writing.
<h3>KKR's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737126009_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth This Much Today

ALLY

BOTJ

CINF

FITB

ITUB

MKTW

MUFG

RILY

SMFG

Shares of banking and financial services stocks are trading higher following strong bank earnings.

Legal

KKR Says It Filed Complaint Challenging Abuse Of Power And Unconstitutional Application Of HSR Act By The Antitrust Division Of DoJ; Also, Antitrust Division Filed Complaint Against KKR

Wells Fargo analyst Michael Brown maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Equal-Weight and lowers the price target from $163 to $151.

Wells Fargo Maintains Equal-Weight on KKR, Lowers Price Target to $151

A dozen financial firms, including industry leaders Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), have reached a settlement with the Securities and Exchange Commission (SEC) over recordkeeping violations. The settlement, totaling $63.1 million, addresses allegations of improper communication practices.
What Happened: The SEC accused these firms of utilizing unauthorized communication methods, referred to as off-channel communications, to exchange messages that were required to be preserved under securities laws. These recordkeeping lapses reportedly involved personnel at various levels, including supervisors and senior managers, The Wall Street Journal <a href="https://www.wsj.com/articles/sec-reaches-63-million-settlement-with-12-firms-over-recordkeeping-9805d111">reported</a> on Tuesday.
As part of the settlement, Blackstone will pay $12 million, while KKR will contribute $11 million. 
A spokesperson for Blackstone expressed satisfaction with the resolution, stating, &#8220;We have already taken significant steps to further strengthen our electronic communications procedures—including before the start of this inquiry—and are committed to the highest standard of compliance.&#8221; 
Why It Matters: This settlement follows a similar action by the SEC last year, where major rating agencies, including Moody&#8217;s Corp., S&amp;P Global, and Fitch Ratings, were fined over $49 million for <a href="https://www.benzinga.com/government/24/09/40704761/moodys-s-p-global-fitch-among-major-rating-agencies-hit-with-49m-sec-fine-over-record-keeping-failur">comparable recordkeeping failures</a>. The SEC&#8217;s actions underscore its ongoing efforts to enforce compliance with federal securities laws, particularly concerning the preservation of electronic communications. 
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/01/42808796/foxconn-posts-record-revenue-rides-high-on-ai-server-demand-and-nvidia-partnership">Apple Supplier Foxconn Posts Record Revenue, Rides High On AI Server Demand And Nvidia Partnership</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Shutterstock

BofA Securities analyst Ross Fowler upgraded the shares of American Electric Power Company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) from Underperform to Buy and <a target="_blank" href="https://www.benzinga.com/quote/AEP/analyst-ratings" rel="noreferrer noopener">raised the price target from $98 to $104.</a>
The analyst upgraded the stock after the company announced the sale of a 19.9% minority stake in its transmission holding assets for $2.8 billion, along with the appointment of <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n42844381/aep-names-seasoned-energy-executive-trevor-mihalik-executive-vice-president-chief-financial-office" rel="noreferrer noopener">Trevor Mihalik as CFO</a>.
The analyst sees the asset sale as a strategic move to meet external equity needs and expect AEP to continue addressing the equity overhang in the short term.
The analyst forecasts a more manageable $2 billion in equity issuance for the second half of 2025, with only the internal dividend reinvestment plan (~$100 million annually) needed to achieve 6% &#8211; 8% EPS growth.
The company&#8217;s progress toward strengthening its balance sheet and potential for EPS growth in future years make AEP an attractive investment opportunity, said the analyst.
Last week, AEP announced an agreement with KKR and PSP Investments, under which AEP will sell a 19.9% minority stake in its I&amp;M and Ohio <a target="_blank" href="https://www.benzinga.com/25/01/42910243/kkr-and-psp-secure-199-stake-in-american-electric-for-282b" rel="noreferrer noopener">transmission businesses for $2.82 billion</a>.
The analyst expects the proceeds to be primarily used to reduce debt in the short term, and the analyst lowered the equity needs forecast to $2 billion in the form of external issuance.
This leaves just $100 million of internal dividend reinvestment plans to meet equity requirements through the 2029 forecast period, noted the analyst.
Following the transaction, the analyst has revised the EPS outlook to $5.83 for 2025, $6.26 for 2026, $6.80 for 2027, and $7.33 for 2028.
This aligns with AEP&#8217;s guidance for an average EPS accretion of $0.11 &#8211; $0.12, with the most significant accretion occurring in 2027-2029.
The analyst values AEP using a sum-of-the-parts approach, leading to a slight discount compared to the industry average 2026 P/E multiple, based on 2026 EPS estimate of $6.26.
Price Action: AEP shares are trading higher by 1.20% at $94.63 on the last check Monday.
Photo by Ground Picture on Shutterstock.

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Outperform and lowers the price target from $170 to $168.

Keefe, Bruyette & Woods Maintains Outperform on KKR, Lowers Price Target to $168

<h2 class="wp-block-heading">New On The Block</h2>
TD Bank, or Toronto-Dominion Bank (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TD#TSX">TD</a>), will consider selling its 10.1% stake in Charles Schwab Corp. The sale is part of a strategic review stemming from the Canadian bank&#8217;s <a href="https://www.benzinga.com/government/24/10/41271816/td-bank-to-face-3b-penalty-growth-limits-in-us-settlement-over-anti-money-laundering-failures">U.S. money-laundering scandal</a>. 
Incoming TD Bank CEO Raymond Chun confirmed the process to <a href="https://www.bloomberg.com/news/articles/2025-01-07/td-mulling-fate-of-schwab-stake-in-review-incoming-ceo-says?srnd=phx-deals">Bloomberg</a>.
Meanwhile, Eyenovia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) hired New York-based investment bank Chardan to explore either a reverse merger or sale. The ophthalmic technology company is keen on conserving cash while continuing to develop its <a href="https://www.benzinga.com/general/biotech/24/08/40514648/why-is-eye-disease-focused-eyenovia-stock-trading-higher-on-thursday">Gen-2 Optejet device</a>. 
By cutting spending by 60%, Eyenovia is stretching its financial resources to give itself more time to consider potential opportunities. Whether that turns out to be a deal remains to be seen.
Smart Share Global Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EM#NASDAQ">EM</a>) is also considering buyout offers. So far, only Trustar Capital offered to take the company private at 62 cents per share. That&#8217;s <a href="https://www.benzinga.com/news/small-cap/25/01/42809956/why-is-smart-share-global-stock-surging-premarket-on-monday">a tempting 74.8% premium</a>. 
Smart Share boasted a financial war chest of $440.9 million as of mid-2024.
Lastly, Warburg Pincus is exploring a sale of Boca Raton, Florida-based medical software firm Modernizing Medicine. Reuters reports that the auction could attract bids north of $5 billion.
<h2 class="wp-block-heading">Off The Block</h2>
Revelyst, the former Vista Outdoor Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) unit that includes bicycle-related brands, is officially owned by investment firm Strategic Value Partners as part of a $1.125 billion deal. 
True Religion, the jeans brand that&#8217;s as resilient as its famously chunky stitching, has a new owner. After surviving <a href="https://www.latimes.com/business/story/2020-04-13/true-religion-files-for-bankruptcy-again-as-denims-allure-fades">two bankruptcies</a>, the brand began collecting offers from apparel companies and private equity firms, CNBC <a href="https://www.cnbc.com/2024/02/15/jeans-brand-true-religion-exploring-sale.html">reported</a> last year. Acon Investments, teaming up with a fund led by American Eagle CEO Jay Schottenstein, emerged as a winning bidder.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42913622/dollar-soars-to-27-month-highs-30-year-yields-hit-5-stocks-tumble-jobs-report-oil-spike-darken-feds-interest-rate-cut-hopes">Dollar Soars To 27-Month Highs, 30-Year Yields Hit 5%, Stocks Tumble As Jobs Report, Oil Spike Darken Fed&#8217;s Interest Rate Cut Hopes</a>
<h2 class="wp-block-heading">Updates From The Block</h2>
Houston-based gas power producer Calpine received a $30-billion offer from Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), a nuclear power giant known for its &#8220;emissions-free&#8221; messaging. The deal marks a significant pivot for Constellation, which spun off from Exelon in 2022 and has since doubled its share price. Calpine, previously taken private in 2018 for $17 billion by Energy Capital Partners, Access Industries and CPP Investments, would bring a major gas-fired portfolio under Constellation&#8217;s umbrella, forcing a rethinking of its <a href="https://www.benzinga.com/topic/green-energy">green-energy branding</a>.
Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Fubotv Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) have agreed to merge their <a href="https://www.benzinga.com/general/entertainment/25/01/42857294/fubo-gets-fairy-tale-outcome-analyst-says-disney-deal-lowers-risks-overhang-on-stock">live TV streaming businesses</a>. Disney will take a 70% ownership stake in Fubo and the combined entity will become the second-largest live TV streamer in North America, with 6.2 million subscribers — trailing YouTube TV. Hulu + Live TV is included in the deal, while the rest of Hulu remains independent. As part of the agreement, Fubo <a href="https://www.benzinga.com/markets/equities/24/09/40855153/fubotvs-lawsuit-against-disney-fox-and-warner-scheduled-for-october-2025-trial-report">will drop its lawsuit</a> against Disney-backed Venu Sports. Disney and its partners will pay Fubo $220 million and Disney will provide a $145 million term loan due in 2026. The deal also includes a $130 million termination fee if it fails to close due to regulatory issues.
KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) is extending its offer period to FUJI SOFT shareholders from Jan. 9 to Jan. 24, seemingly hoping patience will outlast Bain Capital's aggressive courtship. Bain Capital, meanwhile, has gone full &#8220;hostile partial takeover&#8221; mode. But KKR, as the largest shareholder, is reportedly confident that Bain Capital's offer <a href="https://www.benzinga.com/25/01/42894417/kkr-extends-tender-offer-for-fuji-soft-amid-bain-capitals-hostile-bid">will not gain traction</a>.
Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) is acquiring Paycor HCM, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) in an all-cash deal valued at $4.1 billion, offering $22.50 per share — a 19% premium over Paycor's recent trading average. The acquisition, unanimously approved by both companies&#8217; boards, is set to close in the first half of 2025, <a href="https://www.benzinga.com/25/01/42855388/paychex-buys-paycor-41-billion-deal-to-strengthen-ai-driven-hr-solutions">pending regulatory approvals</a>.
The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) entered <a href="https://www.benzinga.com/25/01/42873285/goodyear-sells-dunlop-brand-to-sumitomo-rubber-expects-65-million-annual-soi-impact">a deal to sell its Dunlop brand</a> to Sumitomo Rubber Industries (SRI) for cash <a href="https://www.benzinga.com/pressreleases/25/01/n42865505/goodyear-announces-sale-of-dunlop-brand-to-sumitomo-rubber-industries" target="_blank" rel="noreferrer noopener">proceeds of around $701 million</a>. The purchase amount covers the brand transfer across Europe, North America and Oceania, a transition support fee and Dunlop tire inventory purchase. The deal also includes ongoing offtake, licensing and other commercial arrangements. Dunlop brand includes trademarks and related intangible assets for consumer, commercial and specialty tires across Europe, North America and Oceania. As per the deal, Goodyear will continue producing and distributing Dunlop consumer tires in Europe until at least Dec. 31, 2025, paying royalties to SRI while retaining all profits.
Italy&#8217;s Banca Ifis on Wednesday made a 298 million euro ($309 million) offer in shares and cash for its competitor, specialty lender Illimity Bank S.p.A. 
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Prospect Medical Holdings is working with law firm Sidley Austin and consulting firm Alvarez &amp; Marsal to restructure three Connecticut hospitals that are under financial strain, according <a href="https://www.wsj.com/articles/prospect-medical-explores-restructuring-56ab7a48" target="_blank" rel="noreferrer noopener">to</a> The Wall Street Journal. Prospect purchased the hospitals (located in Waterbury, Manchester and Vernon) in 2016. Yale New Haven Health System intended to buy the hospitals for $435 million in 2022, but an agreement never came to fruition. As of Friday, the hospitals have not yet filed for bankruptcy.
Corsa Coal Corp. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/CSO#TSXV">CSO</a>) filed for voluntary chapter 11 relief in the U.S. Bankruptcy Court for the Western District of Pennsylvania on Jan. 6. It intends to conduct a sale of its assets. The company committed $15 million in debtor-in-possession financing to support operations during the bankruptcy and sale process.
<h2 class="wp-block-heading">Notes From The Block</h2>
<ul>
<li>At least 686 U.S. companies filed for bankruptcy in 2024, according to the <a href="https://www.ft.com/content/ac3c1e2f-c9bc-417e-a686-7170e1bf8533">Financial Times</a>.</li>
<li>That&#8217;s up about 8% from 2023. It&#8217;s also higher than any year since the 828 filings in 2010. Recall how companies were still reeling from the financial crisis at the time.</li>
<li>At least 30 of last year's bankruptcy filers had at least $1 billion in liabilities at the time of filing, the publication noted, citing data from S&amp;P Global Market Intelligence.</li>
<li>Some of the major bankruptcies from 2024 included Party City, Tupperware, Red Lobster, Spirit Airlines and Avon Products.</li>
<li>It&#8217;s worth noting that liability management exercises are becoming increasingly common. These out-of-court sessions are meant to serve as a workaround or alternative to bankruptcy.</li>
<li>Joshua Clark, a senior director at Fitch Ratings, notes that many of the companies that go through those types of ordeals go bankrupt anyway if a debt agreement falls apart.</li>
</ul>
For last week&#8217;s Deal Dispatch, <a href="https://www.benzinga.com/general/health-care/25/01/42793786/deal-dispatch-vera-bradley-party-city-modells-interest">click here</a>.
Now Read:
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<li><a href="https://www.benzinga.com/real-estate/25/01/42877452/27-million-price-tag-for-late-hasbro-ceos-beverly-hills-oasis">$27 Million Price Tag For Late Hasbro CEO&#8217;s Beverly Hills Oasis</a></li>
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