Accelerant Holdings (ARX) News & EventsARXAccelerant Holdings

TD Cowen Downgrades Accelerant to Hold, Price Target Cut to $20.25

TD Cowen downgraded Accelerant to Hold from Buy with a price target of $20.25, down from $30, after the company agreed to be acquired by Thoma Bravo in an all-cash deal at $20.25 per share.

Accelerant Holdings Announces Merger Agreement with Thoma Bravo

Accelerant Holdings announced the expiration of the 40-day "go-shop" period under the terms of the previously announced definitive merger agreement entered into by Accelerant on August 13, pursuant to which affiliates of Thoma Bravo will acquire Accelerant in an all-cash transaction with an enterprise value of more than $4B. The "go-shop" period expired at one minute prior to 12:00 a.m. Eastern time on September 22. Pursuant to the definitive merger agreement, Accelerant, with the assistance of its financial advisors and other representatives, was permitted to solicit and engage in negotiations with respect to alternative acquisition proposals from certain potentially interested third parties. During the "go-shop" period, Accelerant did not receive any alternative acquisition proposals from any third party. The transaction is still expected to close in the first half of 2027, subject to customary closing conditions, including approval by Accelerant shareholders and receipt of required regulatory approvals. Upon completion, Accelerant will become a private company, and its common shares will no longer be listed nor traded on the New York Stock Exchange.

Major Averages Rise as Oil Prices Fall

The major averages closed broadly higher as oil prices fell and investors digested softer-than-feared inflation data and another slate of corporate earnings reports.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Meanwhile, oil prices were down as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Ciscoreportedand provided an upbeat outlook for Q1 and FY27Cerebras Systemsreportedbut raised its FY26 revenue guidancePershing Squarereported Netflixand VisaamongTapestryreported, provided its outlook for Q1 and FY27, and approved a 16% dividend increaseSilver Lake is in talks to acquire Workday,2. WALL STREET CALLS:Five Belowto Buy at JefferiesStubHubto Underperform at BofAVail Resortswith a Sell at Goldman SachsJPMorganAkamaito Neutral on revenue growth rampTronoxto Underweight at JPMorgan3. AROUND THE WEB:AMDis planning its largest-ever investment-grade bond offering of up to $5B across four maturities, Bloomberg reportsAlphabetchief scientist Demis Hassabis discussed forming an independent AI safety entity before stepping down as Google DeepMind CEO, WSJ saysFordplans to shift production of some China-built Lincoln models to the U.S. starting in 2030, driven primarily by tariffs, including a 52.5% duty on the China-made Nautilus, and the goal of strengthening domestic manufacturing, Reuters reportsBending Spoons'acquisition strategy is driving strong financial results and aggressive software monetization, but steep price increases for legacy customers risk accelerating churn and undermining the long-term value of its acquired businesses, Bloomberg saysAppleis in talks with publishers over new deals to use their content to deliver current news and information as part of the iPhone maker's efforts to improve its AI-powered Siri voice assistant, WSJ reports4. MOVERS:Accelerantgained after announcingin an all-cash deal worth more than $4B and reporting Q2 resultsSanDiskrose afterfor the years 2028 through 2030 at its investor day meetingOmerosand CorMedixwere higher afterCellebritefell afterand cutting its guidance for FY26Securitizeand Resideowere lower after5. EARNINGS/GUIDANCE:Yetiand raised its outlook for FY26Paysafe, with CEO Bruce Lowthers commenting on "strong traction across our priority markets and products"Cellebrite, provided guidance for Q3, and cut its outlook for FY26Ondas, provided guidance for Q3, and cut its outlook for FY26Yeswayand increased its outlook for FY26INDEXES:The Dow rose 69.72, or 0.13%, to 53,839.99, the Nasdaq gained 214.54, or 0.81%, to 26,803.03, and the S&P 500 advanced 50.49, or 0.65%, to 7,798.99.