The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, April 26, 2017.
Castle Said to Weigh Sale Amid Takeover Interest
The Rumor:
Castle Brands Inc. is exploring a sale, according to sources as reported by Bloomberg. Potential buyers include
Constellation Brands Inc. (NYSE: STZ) and
Diageo (NYSE: DEO), the sources said.
Castle Brands is said to be working with advisers at Perella Weinberg Partners.
Representatives for Perella Weinberg, Constellation and Diageo declined comment on the rumor, while Castle Brands had not yet
responded.
Castle Brands closed at $1.62, up $0.02.
Coach May Consider Michael Kors Takeover
The Rumor:
Shares of Michael Kors (NYSE: KORS) spiked
to a high of $38.46 Wednesday, following circulation of unconfirmed market chatter that Coach (NYSE: COH) could bid for the women's and men's apparel design and marketing
company. Talks between Coach and Kate Spade (NASDAQ: KATE) are said to have stalled and Coach is ready to entertain a new merger
partner.
Analysts now see a Kate Spade deal in the $18.00 to $21.00 range, not enough to get a deal done.
Michael Kors closed at $38.05, up $0.58.
Sajan to be Acquired by AMPLEXOR at $5.83/Share in Cash
The Deal:
Sajan Inc. (NASDAQ: SAJA) and AMPLEXOR
International SA announced a definitive merger agreement under which Sajan will be acquired by a wholly-owned subsidiary of
AMPLEXOR International for $5.83 per share in cash. The merger is expected to close following a special meeting of Sajan's
shareholders to vote on the transaction in July 2017.
Sajan closed at $5.70, up $1.71.
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