The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, February 14, 2017.
Syngenta Says U.S. Extends Antitrust Review of ChemChina Deal
The Regulator Review Extension:
Syngenta AG (ADR) (NYSE: SYT) said the U.S.
FTC has asked for more time to review the $43 billion takeover by ChemChina, according Syngenta spokesperson Paul Minehart as
reported by Bloomberg. The extended review isn't expected to prevent the closing to occur in the first half of 2017 and the FTC
still could approve the deal prior to the April 12 EC deadline. Syngenta and ChemChina have presented proposals to regulators
satisfy any concerns tha a merger could hurt competition, Minehart said.
Syngenta closed Monday at $86.30, up $0.05.
Allergan to Acquire Zeltiq for $56.50/Share in Cash
The Deal:
Allergan plc (NYSE: AGN) has agreed to
aquire ZELTIQ Aesthetics Inc (NASDAQ: ZLTQ)
for $56.50 per share, or $2.475 billion. Allergan expects the transaction to close in H2 of 2017.
Zeltiq closed at $55.93 on Monday, up 13.22 percent.
Hearing Icahn Activist Chatter in Gilead
The Deal:
Shares of Gilead Sciences, Inc. (NASDAQ: GILD) rose on unconfirmed market chatter that Carl Icahn was taking a stake in the
biopharmaceutical company. A similar rumor surfaced last month.
Gilead closed at $67.65 on Monday, up 1.94 percent.
Restaurant Brands Seeking Acquisition of Popeyes Louisiana Kitchen
The Rumor:
Restaurant Brands International Inc (NYSE: QSR) is said to have approached Popeyes Louisiana Kitchen Inc
(NASDAQ: PLKI) regarding a potential takeover, according to
sources as reported by Reuters. No purchase price has been agreed upon, the sources said.
Restaurant Brands International was formed in 2014 when Tim Hortons merged with Burger King.
Popeyes Louisiana Kitchen closed at $67.65 on Monday, up 7.24 percent.
IDT to Acquire Gigpeak for $3.08/ Share in Cash
The Deal:
Integrated Device Technology Inc (NASDAQ: IDTI) and GigPeak Inc (NYSE MKT: GIG) announced they have signed a definitive agreement for IDT to acquire
GigPeak for $3.08 per share in cash, or approximately $250 million, via a tender offer. The transaction is not subject to financing
and expected to close during Q2 of 2017.
Gigpeak closed at $2.71 on Monday, and traded as high as $3.10 after-hours.
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