The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 29, 2016:
Qualcomm Said to be in Talks to Acquire NXP Semiconductors for $30B+
The Rumor:
Qualcomm Inc. (NASDAQ: QCOM) is said in talks to acquire NXP
Semiconductors NV (NASDAQ: NXPI), according to sources as
reported by Dow Jones on Thursday. The sources said a deal, which could happen over the next two to three months, would
likely be valued at over $30 billion, though NXP's market cap was already over $32 billion following the report.
NXP Semiconductors closed at $96.12 on Thursday, up 16.88%. Qualcomm closed at $67.45, up 6.30%.
National Amusements Proposes Combination of CBS, Viacom
The Letter:
The majority owner of CBS (NYSE: CBS) and
Viacom (NASDAQ: VIAB) voting stock, National Amusements,
announced Thursday, that it has asked the boards of CBS and Viacom to consider a potential merger. A letter was sent to the boards
of both companies by the Redstone-controlled NAI, is proposing an all-stock transaction in which the stockholders of each company
would receive shares in the combined company of the same class as they currently hold.
CBS closed at $54.57 on Thursday, up $0.42. Viacom closed at $37.77, up 3.31%.
Two Groups Set to Submit Bids for Cabela's
The Rumor:
Two separate groups will make bids this week to acquire Cabela's Inc (NYSE: CAB), according to sources as reported by Reuters on Thursday. The first
consortium consists of Bass Pro Shops, Goldman Sachs Group and Capital One Financial, which is interested in Cabela's credit card
business. The second group conisists of private equity firm Sycamore Partners and Synchrony Financial, the sources said. Binding
offers for Cabela's are said to be due this week.
Cabela's closed at $53.55 on Thursday, up 2.27%.
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