Bullish (BULL) to Acquire Equiniti for $4.2 Billion Deal

Bullish (BULL) announced its acquisition of Equiniti in a deal valued at $4.2 billion, aimed at enhancing its position in capital markets. Shares of Bullish fell approximately 6% in premarket trading following the announcement. The transaction involves $1.85 billion in assumed debt and $2.35 billion in Bullish stock, and it is expected to close in January 2027, pending regulatory approvals. Bullish forecasts annual revenue growth of 6% to 8% from 2027 to 2029, alongside over $100 million in annual EBITDA growth. Equiniti currently processes about $500 billion in annual payments for more than 20 million shareholders.