Brixmor Property Group Inc (BRX) News & EventsBRXBrixmor Property Group Inc

Major Averages Decline as Oil Prices Come into Focus

The major averages had a down day to start the week, with oil prices in focus after President Donald Trump rejected conditions for a ceasefire presented by Iran. Meanwhile, Treasury yields continued to climb to multi-year highs amid expectations that higher energy prices could put further pressure on inflation and increase the likelihood of additional rate hikes.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiahas launched an agent safety platform following recent security incidents and authorized an additional $150B under its existing share repurchase programMongoDBCEO Chirantan Desai has left the company to take on the role as Meta'sEnterprise Platform OfficerBoeinghas discovered a glitch to the 737 MAX software that could cause its automated navigation feature to fail, WSJ reportsBrixmorand Everview Partners agreed to acquire Slate Grocery REITfor $2.34BJana Partners is pushing Fiservto more than double planned cost reductions, Reuters reports2. WALL STREET CALLS:Royal Caribbeanupgraded to Buy at both Deutsche Bank and BofARobloxdowngraded to Underperform at JefferiesPark Hotelsupgraded to Strong Buy from Market Perform at Raymond JamesPepsiCodowngraded to Hold from Buy at Deutsche BankSweetgreenupgraded to Overweight at Wells Fargo3. AROUND THE WEB:The White House is weighing broader use of tax-exempt red-dyed diesel as an alternative to restricting exports, Reuters reportsTrump is expected to announce a $15B Mesabi Metallics steel factory in Iowa, Bloomberg saysAirbusand Leonardoare investigating a coatings defect affecting about 500 A321neo jets, Reuters reportsFugazi Research said in a new research report that the firm considers Greenland Energy'sstock "uninvestable" at "any price above zero"A EUR 10.3B bid by BASFfor Evonikhas been rejected as too low to warrant negotiations, setting up a potential takeover battle as Evonik pursues restructuring and divestitures amid broader consolidation in Europe's challenged chemicals industry, FT reports4. MOVERS:Kodiak Sciencessurged after announcing its Phase 3 DAYBREAK study met its primary endpointsBurford Capitalincreased after issuing comments related to the patent matter between Apple and TactionGE Aerospaceslipped after Bloomberg reported the FAA intends to delay certification of Boeing's 737 Max 10 aircraft as it reviews a potential issue with software developed by GE AerospaceGold Fieldsfell in New York after announcing its offer was rejected by Northern Star Resources boardNubankwas lower in New York after Bloomberg reported the company is in talks to acquire Monzo Bank for GBP8B-GBP10B5. EARNINGS/GUIDANCE:Zymeworksprovided guidance for FY26NetSol Technologiesreported Q4 results, with EPS and revenue higher year-over-yearGray Mediaannounced its outlook for Q3Kandi Technologiesreported results for H1, with EPS and revenue higher year-over-yearVestisreaffirmed its guidance for FY26INDEXES:The Dow fell 347.11, or 0.67%, to 51,481.51, the Nasdaq lost 248.34, or 0.92%, to 26,820.38, and the S&P 500 declined 59.72, or 0.77%, to 7,683.69.

Major Averages Broadly Lower as Oil Prices Surge Over 3%

The major averages were broadly lower to start the week, with oil prices surging over 3% after President Donald Trump rejected conditions for a ceasefire presented by Iran. Treasury yields are also rising while several AI stocks, including AMD and Micron, were slipping.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiahas launched an agent safety platform following recent security incidents and authorized an additional $150B under its existing share repurchase programMongoDBCEO Chirantan Desai has left the company to take on the role as Meta'sEnterprise Platform OfficerBoeinghas discovered a glitch to the 737 MAX software that could cause its automated navigation feature to fail, WSJ reportsBrixmorand Everview Partners agreed to acquire Slate Grocery REITfor $2.34BJana Partners is pushing Fiservto more than double planned cost reductions, Reuters reports2. WALL STREET CALLS:Royal Caribbeanupgraded to Buy at both Deutsche Bank and BofARobloxdowngraded to Underperform at JefferiesPark Hotelsupgraded to Strong Buy from Market Perform at Raymond JamesPepsiCodowngraded to Hold from Buy at Deutsche BankSweetgreenupgraded to Overweight at Wells Fargo3. AROUND THE WEB:Airbusand Leonardoare investigating a coatings defect affecting about 500 A321neo jets, Reuters reportsUber'sKenyan safari business is facing resistance from local guides, WSJ saysFugazi Research said in a new research report that the firm considers Greenland Energy'sstock "uninvestable" at "any price above zero"A EUR 10.3B bid by BASFfor Evonikhas been rejected as too low towarrant negotiations, setting up a potential takeover battle as Evonik pursues restructuring and divestitures amid broader consolidation in Europe's challenged chemicals industry, FT reportsMetaVR Glasses is the product Apple'sVision Pro should have been, Bloomberg says4. MOVERS:Kodiak Sciencesgains after announcing its Phase 3 DAYBREAK study met its primary endpointsBurford Capitalincreases after issuing comments related to the patent matter between Apple and TactionLexiconhigher after Cantor Fitzgerald initiated coverage of the stock with an Overweight ratingGold Fieldsfalls in New York after announcing its offer was rejected by Northern Star Resources boardNubanklower in New York after Bloomberg reported the company is in talks to acquire Monzo Bank for GBP 8B - GBP 10B5. EARNINGS/GUIDANCE:Zymeworksprovided guidance for FY26NetSol Technologiesreported Q4 results, with EPS and revenue higher year-over-yearGray Mediaannounced its outlook for Q3Kandi Technologiesreported results for H1, with EPS and revenue higher year-over-yearVestisreaffirmed its guidance for FY26INDEXES:Near midday, the Dow was down 372.37, or 0.72%, to 51,456.25, the Nasdaq was down 251.04, or 0.93%, to 26,817.68, and the S&P 500 was down 61.51, or 0.79%, to 7,681.90.

Slate Grocery REIT Enters $2.3B Acquisition Agreement with Brixmor

Slate Grocery REIT (SRRTF) entered into a definitive arrangement agreement with a joint venture between Brixmor Property Group (BRX) and affiliates of Everview Partners, pursuant to which the Purchaser will acquire all of the issued and outstanding trust units of the REIT for $13.00 in cash per Unit, representing a total enterprise value of approximately $2.3B. The all-cash Transaction provides Unitholders with immediate liquidity and certainty of value at an attractive premium. The Consideration represents a premium of approximately 13% to the closing price of the Units on May 21, the last trading day prior to the public announcement of the strategic review process, and a premium of approximately 20% to the closing price of the Units on September 23, the last trading day prior to the REIT's announcement of the suspension of distributions. The Transaction is the culmination of the strategic review process previously announced by the REIT on May 22. At that time, the REIT announced that the Board of Trustees had established a special committee comprised solely of independent trustees in response to an unsolicited proposal from affiliates of Slate Asset Management, the external manager of the REIT, and that the Special Committee had a broad mandate to consider and evaluate strategic alternatives, including a potential sale of the REIT. Following an extensive strategic review process, including a competitive auction process, and after consultation with its financial, legal, tax and real estate advisors, the Special Committee unanimously determined that the Transaction is fair to Unitholders and in the best interests of the REIT and unanimously recommended that the Board approve the Arrangement Agreement and recommend that Unitholders vote in favour of the Transaction. The Board, having received the unanimous recommendation of the Special Committee, has unanimously determined, with interested trustees abstaining from voting, that the Transaction is in the best interests of the REIT and is fair to Unitholders, and unanimously recommends that Unitholders vote FOR the Transaction. Concurrently with the execution of the Arrangement Agreement, each of the trustees holding Units and the Manager and its affiliates agreed to vote their respective Units, as applicable, in favour of the Transaction pursuant to voting and support agreements, subject to customary exceptions. The Units represented by the voting and support agreements represent approximately 5.9% of the issued and outstanding Units of the REIT. The Transaction will be implemented by way of a plan of arrangement under the Business Corporations Act and the Trustee Act, and is expected to close in the first quarter of 2027, subject to customary closing conditions, including receipt of Unitholder approval and approval of the Ontario Superior Court of Justice and the concurrent termination of the Management Agreement with the Manager. The Transaction is not subject to any financing conditions and, other than any approval that may be required under the Investment Canada Act, is not subject to any regulatory approvals. The required Unitholder approval for the Transaction will consist of: at least 66 2/3% of the votes cast on the arrangement by Unitholders voting together as a single class; and a simple majority of the votes cast on the arrangement by such Unitholders, excluding the Manager and its affiliates and related parties, will vote together as a single class, in each case as required by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Arrangement Agreement contains customary non-solicitation covenants on the part of the REIT, subject to customary "fiduciary out" provisions. A termination fee of approximately $31M would be payable by the REIT to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the REIT. The REIT would also be entitled to a reverse termination fee payable by the Purchaser of approximately $63M if the Transaction is not completed in certain circumstances. The Purchaser has provided evidence of fully committed financing, including debt commitment letters and equity commitment letters. If the Transaction closes after January 20, 2027, Unitholders will also receive additional cash consideration of $0.002482 per Unit for each day from and after such date until closing, which would increase the aggregate consideration payable to Unitholders by approximately $150,000 per day. Following completion of the Transaction, the REIT will become a privately held entity, the Units will no longer be listed on the Toronto Stock Exchange and the REIT will cease to be a reporting issuer under Canadian securities laws. No distributions will be declared or paid by the REIT for October through the closing of the Transaction. Effective as of the closing of the Transaction, pursuant to a purchase agreement entered into by Purchaser and Slate North American Essential Real Estate REIT, the Purchaser will acquire the interest of NA Essential in the joint ventures between the REIT and NA Essential, for an aggregate purchase price of approximately $187.5M. The REIT is externally managed by the Manager pursuant to the Third Amended and Restated Management Agreement dated October 1, 2021. The Transaction is conditioned upon the termination of the Management Agreement, which termination shall become effective upon closing. The Manager has agreed to the termination of the Management Agreement at closing in exchange for a fixed payment of $50M, which is inclusive of all severance, reimbursement, termination costs, change of control payments and other amounts that may otherwise be payable in connection with the termination of the Management Agreement. The Termination Payment has been approved by the independent trustees of the REIT.