The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 27, 2016:
Sequenom Being Acquired by Lab Corp for $2.40/Share in Cash
The Deal:
Laboratory Corporation of America Holdings (NYSE: LH) and
Sequenom, Inc. (NASDAQ: SQNM) announced Wednesday, that they
have entered into a definitive agreement aunder which LabCorp would acquire all of the outstanding shares of Sequenom in a cash
tender offer for $2.40 per share, for an equity value of $302 million.
The closing of the acquisition is expected by year end.
Sequenom closed at $2.40 on Wednesday, up 77%.
SABMiller Ordered Halt of AB InBev Integration Effort
The Rumor:
SABMiller Plc (OTC: SBMRY) is said to have suspended work on
integrating the brewer’s operations with that of Anheuser-Busch InBev (NYSE: BUD), according to a memo seen by Bloomberg on Wednesday. In the memo,
SABMiller CEO Alan Clark told employees “there should be no contact with AB InBev with immediate effect,” while a new offer is
reviewed.
AB InBev and SABMiller declined to comment on the report,
On Tuesday, AB InBev made a revised and final all-cash offer of £45 per share for the entire issued and to be issued share
capital of SABMiller.
Anheuser-Busch InBev closed at $121.94 on Wednesday, down 3.68%.
FTC Approves Teva-Allergan Deal
The Approval:
Teva Pharmaceutical Industries Ltd., (NYSE: TEVA) and Allergan
plc (NYSE: AGN) announced Wednesday, that the U.S. FTC has
accepted the proposed consent order in connection with the pending acquisition of Allergan's generics business by Teva. Thus, Teva
has satisfied the regulatory approval requirements under the purchase agreement to complete the acquisition of Actavis
Generics.
Teva closed Wednesday at $55.16, up 1.57%. Allergan Rose 4.54% to close at $260.24.
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