The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday November 14, 2016.
Samsung Electronics to Acquire Harman for $112.00/Share in Cash
The Deal:
Samsung Electronics (OTC: SSNLF) and
Harman International Industries, Incorporated (NYSE: HAR) announced Monday they have entered into a definitive agreement under which
Samsung will acquire Harman for $112.00 per share in cash, for a total equity value of approximately $8.0 billion. The transaction
is expected to close in mid-2017. Harman closed at $109.72 on Monday, up 25.18 percent.
Siemens to Acquire Mentor Graphics for $37.25/Share in Cash
The Deal:
Siemens (OTC: SIEGY) and Mentor
Graphics (NASDAQ: MENT) announced a merger
agreement under which Siemens will acquire Mentor for $37.25 per share in cash, for an enterprise value of $4.5 billion. Mentor
shareholder Elliott Management supports the transaction. Closing of the transaction is expected in Q2 of 2017.
Mentor Graphics closed at $36.29 on Monday, up 18.29 percent.
GL Management, Affiliates Propose to Acquire Sciclone Pharmaceuticals for $11.18/Share in Cash
The Offer:
GL Capital Management GP Limited and its other members of a Consortium have submitted a preliminary non-binding proposal to
acquire all of the outstanding share capital of SciClone, not already owned by the Consortium, for $11.18 per share in cash. The
Consortium intends to finance the proposed acquisition with a combination of debt and equity capital.
Sciclone Pharmaceuticals closed at $10.35, up 5.08 percent.
Amaya Confirms Non-Binding All-Cash Offer Of C$24/Share from Former CEO David Baazov
The Offer:
Amaya (NASDAQ: AYA) confirmed it
has received a non-binding all cash offer from its former CEO, David Baazov, to acquire Amaya for C$24.00 per common share. The
offer includes provisions for a US$200 million deposit into escrow upon execution of a definitive agreement. Amaya's Board of
Directors of Amaya, along with the assistance of its advisors, will consider the offer and shareholders are advised not to take any
action regarding the offer.
Amaya closed at $15.50, up 13.97 percent.
Report Coach Could be Eyeing Kate Spade
The Rumor:
Shares of Kate Spade (NASDAQ: KATE)
traded as high as $18.34 Monday as shareholder Caerus Investors sent a letter to Chairman Nancy Karch, Chairman of the Board of
Directors, requesting that the Board consider a sale. The letter said that a strategic investor would pay a substantial premium.
Later, DealReporter said Coach (NYSE: COH)
might be interested in a takeover of Kate Spade.
Kate Spade closed at $17.93, up 7.88 percent.
Symantec, Permira, TPG Said to Be Among Potential LifeLock Bidders
The Rumor:
Symantec Corp. (NASDAQ: SYMC) and
private equity firms Permira and TPG are said to be among the potential bidders for LifeLock Inc. (NASDAQ:
LOCK), according to sources reported by Bloomberg. Bloomberg
reported last week that LifeLock had hired Goldman Sachs to assist it in a sale. Permira, TPG and LifeLock declined to comment on
the report. A spokeswoman for Symantec did not respond to a request for comment.
LifeLock closed at $19.70, and traded at $21 after-hours.
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