The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, June 19, 2017.
EQT to Buy Rice Energy for $6.7B
The Deal:
EQT Corporation (NYSE: EQT) and
Rice Energy Inc. (NYSE: RICE) announced that
they have agreed that EQT will acquire all of the outstanding shares of Rice common stock for total consideration of approximately
$6.7 billion, including 0.37 shares of EQT common stock and $5.30 in cash per share of Rice common stock.
The transaction is expected to close in Q4 of 2017.
Rice Energy closed at $24.57, up $4.88.
NOVADAQ to be Acquired by Stryker for $11.75/Share in Cash
The Deal:
NOVADAQ Technologies Inc. (NASDAQ: NVDQ)
has entered into a definitive arrangement with Stryker Corporation (NYSE: SYK), under which Stryker will acquire all of the issued and outstanding shares of
Novadaq for $11.75 per share in cash.
The acquisition will be carried out via a court approved plan of arrangement under the Canada Business Corporations Act and will
require approval of the holders of at least 66 2/3 percent of the Novadaq hares present in person or represented by proxy at a
special meeting of Novadaq shareholders to be held on or about August 4, 2017.
There is a provision for a termination fee of $21 million by Novadaq to Stryker under certain conditions.
Novadaq closed at $11.70, up $5.70.
TEGNA to Sell CareerBuilder for ~$250M
The Deal:
TEGNA Inc. (NYSE: TGNA) has entered into a
definitive agreement to sell CareerBuilder to an investor group led by investments funds managed by affiliates of Apollo
Global Management, LLC (NYSE: APO) and the Ontario
Teachers’ Pension Plan Board ford cash proceeds of approximately $250 million. TEGNA will retain a stake 12.5 percent on a
fully-diluted basis once the proposed transaction is complete.
The proposed transaction is expected to close in Q3 of 2017.
Tegna closed at $15.26, up $0.08.
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