The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday July 22 to Sunday July 24,
2016:
Verizon Said to Announce $5B Agreement to Acquire Yahoo on Monday
The Rumor:
Verizon Communications Inc (NYSE: VZ) will announce an agreement
to acquire Yahoo Inc (NASDAQ: YHOO) for about $5 billion,
according to a source as reported by Reuters on Sunday. The source said the announcement will come prior to the start of
trading in New York. Verizon has been considered to be the front-runner in the talks to acquire Yahoo. Both Verizon and Yahoo
declined comment on the report.
Yahoo closed at $39.38 on Friday, up 1.36%.
Tesla, Solar City Said Near Agreement on Merger
The Rumor:
Tesla Motors Inc (NASDAQ: TSLA) and SolarCity Corp (NASDAQ:
SCTY) are said to be closed to a merger, according to
sources as reported Reuters on Saturday. The sources said the two companies founded by Elon Musk, are in the final stages of
due diligence and a deal could be finalized inthe coming days. Tesla announced on June 21, it had bid $2.8 billion for Solar
City.
Solar City closed at $26.45 on Friday, up $0.05.
Syngenta Says having Constructive Talks With Regulators Over ChemChina Bid
The Rumor:
Syngenta AG (NYSE: SYT) said on Friday, it was having
constructive discussions with regulatory authorities regarding its acquisition by ChemChina. Syngenta's CEO Erik Fyrwald, said the
company was focused on getting the deal done. ChemChina offered to acquire Syngenta for more than $43 million on February 3.
Syngenta closed Friday at $79.59, up 1.29%.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.