The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday July 21, 2016:
ExxonMobil to Acquire InterOil in $2.5B+ Deal
The Deal:
Exxon Mobil Corporation (NYSE: XOM) and InterOil Corporation
(NYSE: IOC) announced Thursday, that they agreed ExxonMobil
would buy InterOil for $45 per share, or more than $2.5 billion, plus a cash payment based on Elk-Antelope resource size. There is
a Contingent Resource Payment of $7.07 per share in cash for each trillion cubic feet equivalent (tcfe) gross resource
certification of the Elk-Antelope field above 6.2 tcfe subject to a maximum of 10 tcfe.
The Oil Search (OTC: OISHY) arrangement agreement was
terminated as per agreement.
InterOil closed at $48.59 on Thursday, down $0.36.
Liberty Media CEO Greg Maffei Said to Offer $15/Share for Pandora Media
The Rumor:
Shares of Pandora Media (NYSE: P) spiked higher Thursday, on a
Wall Street Journal report that Liberty Media Corp.(NASDAQ: LMCA) CEO Greg Maffei discussed a possible offer of $15 per share for the streaming
music service. Pandora's Board is said to have rejected the offer, according to sources. Maffei again mentioned the subject at an
investor meeting in June, sources said. This time there was said to be mention of a potential Sirius (NASDAQ: SIRI)-Pandora merger.
Pandora Media closed at $12.00 on Thursday, down 2.83%.
Pfizer Could Provide Rival Bid for Medivation
The Rumor:
Medivation (NASDAQ: MDVN) shares spiked as high as $63.23 on
Thrusday, following unconfirmed market chatter of a potential offer from Pfizer (NYSE: PFE), according to "sources." The New York City-based pharma giant has been mentioned
as a possible rival bidder to Sanofi (NYSE: SNY), whose $58.00
per share cash offer and a CVR for Talazoparib sales, worth up to $3.00 per share, was rejected by Medivation's Board. Medivation
and Pfizer did not respond to requests for comment.
Medivation closed Thursday at $62.54, up 1.18%.
Galenica to Acquire Relypsa for $32/Share in cash
The Deal:
Galenica Group announced Thursday, that it has entered into a definitive agreement to acquire the Relypsa, Inc., (NASDAQ: RLYP) for $32 per share in cash, for a total of approximately $1.53
billion.
The transaction is expected to close during Q3 of 2016.
Relypsa closed Thursday at $31.95, up 58.96%.
Joy Global to be Acquired by Komatsu for $28.30/Share in Cash
The Deal:
Joy Global Inc. (NYSE: JOY) announced Thursday, that its Board
of Directors has unanimously approved its acquisition by Komatsu America Corp., a subsidiary of Komatsu Ltd. (OTC: KMTUY), for $28.30 per share in cash, or $3.7 billion.
The announcement today follows years of takeover rumors, with GE (NYSE: GE) also frequently as a potential buyer. The deal is expected to close by
mid-2017.
Joy Global closed Thursday at $28.20, up 19.75%.
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