The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, April 5 2017.
Walgreens CEO Says Expects FTC Approval of Rite Aid Deal In Coming Weeks
The CEO Comments:
Walgreens Boots Alliance Inc (NASDAQ: WBA) CEO Stefano Pessina said he expects the merger with Rite Aid
Corporation (NYSE: RAD) to close in the coming weeks,
ahead of the July deadline. Pessina told analysts he was "still positive on the deal" and said there was strong argument to defend
it.
The drug chains announced in December the sale of 856 stores to Fred's (NASDAQ: FRED), in an effort to satisfy regulatory concerns. Reports last month said
Walgreens planned to sell additional stores in an effort to get approval.
Walgreen closed at $81.17, down $1.33.
JAB Holding to Acquire Panera Bread
The Deal:
Panera Bread Co (NASDAQ: PNRA) and JAB
announced a definitive merger agreement, under which JAB will acquire Panera for $315 per share in cash, for a transaction valued
at approximately $7.5 billion, including the assumption of approximately $340 million of net debt. The agreement has been
unanimously approved by Panera's Board of Directors and is expected to close during Q3 of 2017.
Panera closed at $312.94, up $38.94
ChemChina-Syngenta Deal Wins EU Regulatory Approval
The Regulatory Approval:
Following U.S. Federal Trade Commission approval on Tuesday, the European Union has cleared ChemChina's $43 billion takeover of
Syngenta (NYSE: SYT), ahead of the April 18
deadline. The EU said the companies divest three crop chemical businesses to a rival.
As part of the approval process, ChemChina's Adama's pesticide business would be divested, along with 29 generic pesticides
under development and its plant growth business. Some of Syngenta's pesticides business was also to be divested.
Syngenta closed at $89.79, up $0.48.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.