The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, March 21, 2017.
Hearing Dealreporter Saying JD.com Interested In GNC
The Rumor:
Shares of GNC (NYSE: GNC) spiked higher
Tuesday after DealReporter said JD.com (NASDAQ: JD) was interested on acquiring the nutrition retailer, the latest takeover rumor
involving a potential Chinese buyer. Benzinga reported in February that a major Vitamin Shoppe (NYSE: VSI) shareholder was pushing for a merger with GNC.
GNC closed at $7.21, down $0.01.
Fiat Chrysler CEO Sergio Marchionne Says 'Waiting With Anticipation on Volkswagen Talks
The CEO Comments:
Fiat Chrysler (NYSE: FCAU) CEO Sergio
Marchionne said he was looking forward to meeting with his counterpart at Volkswagen (OCT: VLKAY) boss Matthias
Mueller to discuss a possible merger, but he hadn't seen Mueller in six to seven months, according to Reuters. Marchionne has been
an advocate of mergers in the auto industry as a way to handle costs and technology more efficiently. Last week, Mueller said he
didn't rule out merger talks Fiat.
Fiat Chrysler closed at $10.70, down $0.60.
Marathon Oil Acquires ~21K Acres in N. Delaware Basin for $700M
The Deal:
Marathon Oil Corporation (NYSE: MRO)
announced an agreement to acquire approximately 21,000 net surface acres largely in the Permian’s Northern Delaware basin of New
Mexico from Black Mountain Oil & Gas and other private sellers for $700 million in cash, excluding closing adjustment. The
acquisition is expected to close in Q2 of 2017.
Marathon Oil closed at $15.05, down $0.43.
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