The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 15, 2016:
Carbylan Therapeutics, KalVista Pharmaceuticals Enter into Share Purchase Agreement
The Deal:
Carbylan Therapeutics, Inc. (NASDAQ: CBYL) and
privately-held KalVista Pharmaceuticals announced Wednesday that they have entered into a definitive share purchase agreement,
under which the shareholders of KalVista will become the majority owners of Carbylan. At the close of the transaction, Carbylan
will be renamed KalVista Pharmaceuticals, Inc.
The proposed transaction is expected to close late in Q3 or early Q4 of 2016.
Carbylan Therapeutics fell 31.18% Wednesday, to close at $0.78.
TravelCenters of America Rejected $14/Share Offer from Golden Gate Capital
The Rumor:
TravelCenters of America LLC (NYSE: TA) is said to have rejected
a $14 per share bid from Golden Gate Capital late last year, but the private-equity firm is still interested in a deal, according
to sources as reported by Dow Jones on Wednesday. Golden Gate hasn't had any new contact with TravelCenters since the rebuff
and has no interest in making a hostile offer, sources said.
Travel Centers and Golden Gate Capital did not respond to requests for comment.
TravelCenters of America closed at $8.37 on Wednesday, up 23.82%.
FireEye Rejcts Takeover Offers
The Rumor:
FireEye (NASDAQ: FEYE) is said to have rebuffed takeover
offers from several companies, including Symantec, according to sources as reported by Bloomberg on Wednesday. FireEye hired Morgan
Stanley as an advisor on a potential deal, the sources said.
Sources said two potential buyers made offers of less than the $30 FireEye was looking for.
FireEye closed at $16.05 on Wednesday, up 4%.
Cavium to Acquire QLogic for $15.50/Share in Cash, Stock
The Deal:
Cavium, Inc. (NASDAQ: CAVM) and QLogic Corp. (NASDAQ:
QLGC) announced Wednesday, that they have entered into an
agreement for Cavium to acquire QLogic common stock for approximately $15.50 per share, including $11.00 per share in cash and
0.098 of a share of Cavium common stock for each share of QLogic common stock. The transaction values QLogic at approximately $1.36
billion in equity value.
The transaction is expected to close in Q3 of calendar year 2016.
Cavium closed at $48.00 on Wednesday and traded around $44.00 after-hours. QLogic closed at $13.54 and traded at $15.25
after-hours.
Envision, AmSurg to Merge in All-Stock Deal
The Deal:
Envision Healthcare Holdings, Inc. (NYSE: EVHC) and AMSURG
Corp. (NASDAQ: AMSG) announced Wednesday, that they have
signed a definitive merger agreement under which the companies will combine in an all-stock transaction at a fixed exchange ratio
of 0.334 AMSURG shares per Envision share. Envision shareholders will own approximately 53% and AMSURG shareholders will own
approximately 47% of the combined organization on a fully diluted basis, including preferred shares.
The transaction is expected to close by year-end 2016.
AmSurg closed at $77.50 on Wednesday and traded at $78.40 after-hours. Envsion Healthcare closed at $27.51 and traded at $25.68
after-hours.
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