The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday October 24, 2016:
The New York Times Confirms Purchase of The Wirecutter, The Sweethome
The Deal:
The New York Times Company (NYSE: NYT) today announced that it
has acquired product-recommendation services The Wirecutter and The Sweethome in all-cash transaction that closed on October
24, 2016. No financial details were provided in the press release, but <i>Re/Code</i> reported a purchase price of $30
million.
The New York Times closed at $11.50 on Monday, down $0.05.
TD Ameritrade to Acquire Scottrade for $4B in Cash, Stock
The Deal:
TD Ameritrade Holding Corporation (Nasdaq: AMTD) and
Scottrade Financial Services, Inc. today announced that they have entered into a definitive agreement for TD Ameritrade to acquire
Scottrade in a cash and stock transaction valued at $4 billion. That transaction will follow TD Bank (NYSE: TD) acquiring Scottrade Bank from Scottrade Financial Services for $1.3 billion in cash
consideration.
The deal is expected to close by September 30, 2017.
TD Ameritrade closed at $35.46 on Monday, down 4.37%.
Schneider Electric Denies Rumours on a Possible Offer on Rockwell Automation
The Denial:
Schneider Electric (OTC: SBGSY), noting recent speculation
regarding possible takeover bid for Rockwell Automation (NYSE: ROK), categorically denied these rumours in a statement released on Monday. On Friday,
unconfirmed takeover chatter surfaced indicating a possible $18 billion takeover of Rockwell by Schneider.
Rockwell Automation closed Monday at $119.67, down 2.7%.
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