The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 7, 2016:
Zimmer Biomet Acquires LDR Holding Corp. for $37/Share in Cash
The Deal:
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) LDR Holding
Corporation (NASDAQ: LDRH) announced Tuesday that their
Boards of Directors have approved an agreement under which Zimmer Biomet will commence a tender offer for
all of the outstanding shares of LDR for $37.00 per share in cash. The transaction is expected to close in Q3 of 2016.
LDR rose 63% Tuesday, to close at $36.99.
Verizon to Bid $3B for Yahoo's Core Internet Assets
The Rumor:
Verizon Communications Inc. (NYSE: VZ) was expected to submit a
bid Monday, for Yahoo Inc.'s (NASDAQ: YHOO) core Internet
assests of about $3 billion, according to a sources as reported by the Wall Street Journal late Monday. Verizon is believed
by many to be the leading candidate to acquire the Yahoo assets.
Sources say another round of bids is expected. AT&T (NYSE: T) could also make a surprise bid, according to chatter on Tuesday. Yahoo and Verizon
declined comment.
Yahoo closed at $36.73 on Tuesday, down $0.34.
F5 Said to be Working with Goldman Sachs to Determine Takeover Interest
The Rumor:
F5 Networks Inc (NASDAQ: FFIV) is said have hired Goldman
Sachs as an advisor to handle expressions of takeover interest, according to sources as reported by Reuters on Tuesday. The
names of the potential buyers were not disclosed.
IBM (NYSE: IBM), Oracle (NYSE: ORCL) and Juniper Networks (NASDAQ: JNPR) have been mentioned as potential buyers for F5 in the past.
F5 shares closed at $123.94 on Tuesday, up 12.63%.
Hearing Chatter Anadarko Could Receive Takeover Bid from Chevron Corp
The Rumor:
Shares of Anadarko Petroleum (NYSE: APC) surged higher Tuesday,
on unconfirmed market chatter of a potential offer from Chevron (NYSE: CVX). According to a "source", Chevron could offer $76.00 per share for Anadarko, the
source said.
Sell side shops, speaking to Benzinga, indicated doubt over a Chevron bid for Anadarko.
Anadarko closed at $55.22 on Tuesday, up 3.64%.
Former LendingClub CEO Renaud Laplanche Said to be Considering Takeover
The Rumor:
Former LendingClub (NYSE: LC) CEO, Renaud Laplanche, is
consdering a potential buyout of the company he co-founded, according to sources as reported by Reuters on Tuesday.
Laplanche is said to be speaking with private equity firms and banks regarding financing for a deal.
Laplanche resigned after LendingClub's Board discovered altered dated on $3 million worth of loans. Laplanche and LendingClub
declined comment.
LendingClub closed at $4.39 on Tuesday and traded as high as $4.66 after-hours.
Skullcandy Founder Rick Alden Considering Takeover
The Filing:
Richard Alden, Skullcandy (NASDAQ: SKUL) founder and
managing director, is considering an acquisition of "some or all of the shares of the Issuer's Common Stock or otherwise pursue a
"going private" transaction", according to a 13D filing on Tuesday. Alden, a 2.7% shareholder, informed Ptarmagin, which owns 12.7%
of the potential transaction.
Alden founded Skullcandy, which marakets headphones, earphones, hands free devices, audio backpacks and MP3 players, in
2003.
Skullcandy closed at $3.93 on Tuesday and traded at $4.50 after-hours.
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