The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, March 9, 2017.
Novo Nordisk CEO Confirms M&A Aspirations, Won't Confirm GBT is Target
The CEO Comments:
Novo Nordisk's (NYSE: NVO) CEO Lars
Fruergaard Jorgensen said in an interview that his company is looking at making acquisitions in order to increase its range of
products. Jorgensen stressed the need to "look for external innovation."
Jorgensen's comments came a day after Reuters reported Novo Nordisk had approached Global Blood Therapeutics
Inc (NASDAQ: GBT) regarding a potential acquisition.
Jorgensen wouldn't comment specifically on the rumor, but said there was a need for new sources of growth.
Global Blood Therapeutics rose as high as $37.25 on Thursday and closed at $36.15, up 5.55 percent.
Hearing Unconfirmed Market Chatter Airbus Could Offer to Acquire Rockwell Collins
The Rumor:
Shares of Rockwell Collins (NYSE: COL)
spiked to a high of $98.93. Sources close to both companies report Airbus (OTC: EADSY) is in advanced talks to acquire Rockwell for $120 per share.
Also Thursday, Rockwell Collins shareholders approved the $6.5 billion deal to acquire B/E Aerospace (NASDAQ:
BEAV).
Rockwell Collins closed at $97.02, down $0.63.
Hearing Chatter Zurich to Make Offer for Hartford
The Rumor:
Shares of Hartford Financial (NYSE: HIG)
traded higher on a rumor that Zurich Insurance will make all cash bid for company in mid $60s. Several sources including Doug Kass
tweeted the rumor.
Hartford closed at $49.29, up $0.79.
Jahm Najafi, Pamplona Capital Said to Bid for Time
The Rumor:
A group including Jahm Najafi of Najafi Companies, and private-equity firm Pamplona Capital Management is said to be a bidder
for Time Inc (NYSE: TIME), according to
sources as reported by the Wall Street Journal. Earlier, Reuters reported the group led by Edgar Bronfman Jr had dropped out of
bidding for Time, according to their source.
A spokesperson for Time could not be reached for comment.
Time closed at $19.10, up $0.35.
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