The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday August 18, 2016:
Enterprise Products Approached Williams Cos Regarding Acquisition
The Rumor:
Enterprise Product Partners (NYSE: EPD) is said to have
pproached Williams Companies Inc (NYSE: WMB) regarding a
takeover earlier this summer, according to sources as reported by Reuters on Thursday. Williams never responded official to
the Enterprise offer, which has little or no premium, the source said.
Enterprise and Williams did not immediately respond to requests for comment.
Williams Cos closed Thursday at $28.11, up 7.87%.
Och-Ziff Capital Management Considered Sale of Part of Co Earlier This Year
The Rumor:
Och-Ziff Capital Management is said to have explored a partial sale earlier this year, according to sources, as reported by the
Wall Street Journal on Thursday. Company representatives spoke to private equity firms as well as asset managers, Pimco
regarding a sale of part of its business, but talks are no longer ongoing,
the sources said.
Och-Ziff Capital Management closed at $4.209, up 6.60%.
Report of $30B Thermo Fisher Bid for Illumina
The Rumor:
Shares of Illiumima (NASDAQ: ILMN) surged to $182.67 on
Thursday, following a report from Street Insider that Thermo Fisher Scientific (NYSE: TMO) could bid $30B, according to sources. Multiple analysts were doubtful such a deal
could take pace.
Benzinga first reported the sale chatter in Illumina earlier on Wednesday. Illumina declined comment on the report.
Illumina closed at $172.37 on Thursday, up 1.9%.
Retrophin Considers Acquisition of Raptor Pharmaceutical
The Rumor:
Retrophin (NASDAQ: RTRX) is said to be considering a
takeover of Raptor Pharmaceutical Corp. (NASDAQ: RPTP),
according to sources as reported by Bloomberg late Wednesday. Raptor was one of several stocks Benzinga mentioned
Wednesday as potential takeover targets.
Raptor Pharmaceutical closed at $7.49 on Thursday, up 8.55%.
Skullcandy Board Determines $6.35/Share Offer from Mill Road Capital Superior to Incipio Transaction
The Superior Offer:
Skullcandy, Inc. (NASDAQ: SKUL) announced Thursday, that on
August 17, 2016 it received a written proposal from Mill Road Capital Management LLC to acquire Skullcandy for $6.35 per share in
cash. Skullcandy's Board of Directors determined that the Mill Road Proposal constitutes a superior proposal as defined in the
previously announced definitive merger agreement with Incipio.
Skullcandy notified Incipio of the Skullcandy Board's intention to terminate the Incipio agreement on August 23.
Skullcandy closed at $6.41 on Thursday, unchanged.
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