The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday November 4 through Sunday November
6, 2016.
ISS Recommends Shareholders Vote for Merger with Tesla
The Merger Recommendation:
Advisory firm Institutional Shareholder Services recommended on Friday that shareholders from Tesla Motors Inc
(NASDAQ: TSLA) and SolarCity Corp (NASDAQ:
SCTY) vote for the $2.6 billion merger deal. ISS said "The
transaction is a necessary step towards TSLA’s goal of being an integrated sustainable energy company." Glass Lewis came out
against the deal on Friday, saying it was a "thinly veiled bail-out plan." Shareholders of Tesla and Solar City will vote on the
proposed merger on November 17.
Tesla closed at $190.56 on Friday, up 1.68 percent. Solar City closed at $20.18, up 8.79 percent.
Hearing Major Whole Foods Shareholder Wants Consideration of Potential Sale
The Rumor:
A major Whole Foods Market, Inc. (NYSE: WFM) shareholder is said to have met with activist investors to discuss a potential
sale of the company, according to sources as reported by Bloomberg on Friday. The unnamed shareholder said it has lost patience
with the company's issues regarding inventory, high costs and vendor management. Sources say activist investors are reviewing the
shareholder’s suggestions.
Whole Foods closed at $28.93 on Friday, up 1.65 percent.
Report of Potential Takeover Interest in Depomed
The Rumor:
Shares of Depomed Inc (NASDAQ: DEPO)
spiked higher Friday, on a report from Intereconomia that the biotech company could be a takeover target. Deal Reporter had
reported last month that Depomed was progressing on talks with potential buyers. A company spokesperson downplayed the takeover
rumors at that time, saying Depomed was focused on "building our business and bringing value to our shareholders."
Depomed closed Friday at $22.66, up 3.85 percent.
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