The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, February 15, 2017.
Walmart Acquires Moosejaw for $51M
The Deal:
Wal-Mart (NYSE: WMT) has acquired
Michigan-based outdoor retailer Moosejaw for $51 million.
Walmart said, "Moosejaw will continue to operate its site and stores as it has in the past, and will be run as a standalone and
complementary brand to our other e-commerce sites."
The deal closed on February 13, 2017.
Walmart closed Wednesday at $68.69, up $0.03.
Dealreporter Reports Possible Procter & Gamble Interest in Church & Dwight
The Rumor:
Shares of Church & Dwight (NYSE: CHD) rose
to a high of $49.23 on a DealRepoter story of possible takeover interest from Proctor & Gamble (NYSE: PG). Last May, a report from Negocios.com said Reckitt
Benckiser would offer $23 billion for C&D. That's twice the current market cap of $12.62 billion.
Church & Dwight closed at $48.79 on Wednesday, up $0.26.
Verizon Near Deal to Acquire Yahoo's Core Internet With Price Cut Up to $300M
The Rumor:
Verizon Communications Inc (NYSE: VZ) is
said to be close to a revised
deal to acquire Yahoo! Inc.'s (NASDAQ: YHOO) core internet business for $250 million to $350 million below the original
purchase price of $4.83 billion, according to multiple reports. Following reports of major data breaches, Verizon has sought a
reduction in the purchase price for the Yahoo assets.
Sources say the revised deal will involve Verizon and Yahoo sharing the liability from potential lawsuits related to these data
breaches.
A Verizon representative declined to comment, while Yahoo did not immediately respond.
Yahoo closed at $45.65 on Wednesday, up 1.4 percent.
Occidental Said to Be Seeking Buyer for S. Texas Assets for ~$500M
The Rumor:
Occidental Petroleum Corporation (NYSE: OXY) is said to be seeking a buyer for approximately 180,000 acres in S. Texas,
according to sources as reported by Bloomberg. Occidental is working with Citigroup to handle the sale of the assets, valued at
approximately $500 million, the sources said.
Spokespersons for Occidental Petroleum and Citigroup declined comment on the report.
Occidental Petroleum closed at $67.21 on Wednesday, up $0.05.
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