The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, October 19, 2016:
Kroger Said to Backing Out of Acquiring 650 Walgreen's Stores; Walgreen's-Rite Aid Merger in Jeopardy
The Rumor:
Kroger (NYSE: KR) is said to be close to pulling out of a
deal to acquire 650 Walgreens (NYSE: WBA) stores that need to
be disposed of prior to gaining regulatory approval for Walgreens merger with Rite Aid (NYSE: RAD), according to sources as reported by the NY Post on Wednesday. A Walgreen
spokesperson declined comment to Benzinga regarding the report.
Rite Aid closed at $6.66 on Wednesday, down 5.13%. Walgreen fell 1.15% to close at $77.18
Hearing Takeover Chatter in Michael Kors
The Rumor:
Shares of Michael Kors (NASDAQ: KORS) rose to a high of
$50.33 Wednesday, following a report from Intereconomica.com that the men's and women's apparel company has received an offer of
around $55.50 per share, or $10 billion, according to sources. The report said the offer was substantially lower than the price
targets of some analysts.
Michael Kors closed at $50.10 on Wednesday, up 5.43%.
Tableau Software Worked on a Potential Sale in Recent Month
The Rumor:
Tableau Software (NYSE: DATA) considered a potential sale
recently, according to sources as reported by Dow Jones on Wednesday. The talks, which took place as late as this summer,
stalled out.
Tableau appeared on a list of companies that were considered to be potential takeover targets of Salesforce.com Inc (NYSE:
CRM). The list was found in an email from former Secretary of
State and board member Colin Powell and appeared on the DCLeaks website.
A spokesperson for Tableau declined comment on the report, while a Salesforce spokesperson said her company did not necessarily
have an intention to buy the companies on the list.
Tableau Software closed Wednesday at $48.91, up 3.56%.
Imperva Sales Process on Hold
The Rumor:
Shares of Imperva (NYSE: IMPV) sold off sharply Wednesday, on
a report from Bloomberg that the company's sales process is on hold as it looks for a higher offer, according to sources.
Among the companies said to have approached Imperva are IBM (NYSE: IBM), Cisco (NASDAQ: CSCO), Akamai (NASDAQ: AKAM), Fortinet (NASDAQ: FTNT) and Raytheon (NYSE: RTN).
Imperva closed Wednesday at $39.20, down 15.97%.
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