The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, February 6, 2017.
Advisory Board Confirms Considering Potential Sale
The Confirmation:
The Advisory Board Company (NASDAQ: ABCO) announced its Board of Directors has commenced a review of potential
strategic alternatives focused on maximizing shareholder value, including a possible sale. Goldman Sachs and Allen & Company LLC
were selected as financial for the process.
Last week, Bloomberg reported the company was talking to banks to discuss strategic alternatives.
Advisory Board closed Monday at $46.75, down $0.30.
First Busey, First Community to Merge; First Community Shareholders to Receive $12.95/Share in Cash, Stock
The Deal:
First Busey Corporation (NASDAQ: BUSE),
the holding company for Busey Bank, and First Community Financial Partners, Inc. (NASDAQ: FCFP), the holding company for First Community Financial Bank, announced the
signing of a definitive agreement under which Busey will acquire First Community through a merger transaction. First Community
shareholders will receive 0.396 shares of BUSE common stock and $1.35 in cash for each share of FCFP common stock. The implied per
share purchase price is $12.95 with a transaction value of approximately $235.8 million.
The transaction is anticipated to close mid-2017.
First Community closed at $11.60 on Monday, down 2.11 percent.
CyrusOne to Acquire Two Data Centers from Sentinel Data Centers for $490M
The Deal:
CyrusOne Inc. (NASDAQ: CONE) announced
the execution of a definitive agreement to purchase two enterprise-class data centers in Raleigh-Durham, North Carolina and
Somerset, New Jersey from Sentinel Data Centers for $490 million, excluding transaction-related expenses. The transaction is
expected to close in the next 30 to 45 days, subject to the fulfillment of customary closing conditions.
CyrusOne closed at $47.74 on Monday, down 1.36 percent.
Hearing Rumored Interest in Fidelity & Guaranty from Suitors Other than Anbang
The Rumor:
Shares of Fidelity & Guaranty (NYSE: FGL)
spiked higher on an unconfirmed report that there may be potential buyers for the insurer, other than China's Anbang. In 2015,
Anbang offered $26.80 per share for FGL, but the deal has run into regulatory issues.
The takeover has received approval from CFIUS, but still must get the go ahead from state regulators in New York and Iowa.
Fidelity & Guaranty closed at $25.85 on Monday, up 7.48 percent.
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