The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, July 14, through Sunday, July 16,
2017.
Washington Cos. in Advanced Talks with Dominion Diamond
The Rumor:
Dominion Diamond Corp (NYSE: DDC) is in
advanced, friendly talks with the Washington Companies regarding a sweetened cash offer, over and above the current $13.50 bid,
according to sources as reported by Reuters on Friday. The talks are centered around working out a price for a deal, which could be
announced in the coming weeks, the sources said.
Dominion responded to the reports, reiterating that its Board of Directors had formed a Special Committee to review strategic
alternatives focused on maximizing shareholder value and said it has not made any decisions at this time.
Dominion Diamond closed at $13.48, up 72 cents.
H&E Equipment Services to Acquire Neff for $21.07/Share in Cash
The Deal:
H&E Equipment Services, Inc. (NASDAQ: HEES) and Neff Corp (NYSE: NEFF) announced Friday that they have entered into a definitive merger agreement
under which H&E Equipment Services will acquire Neff for $21.07 in cash per share of Neff common stock, for a total enterprise
value of approximately $1.2 billion, including approximately $690 million of net debt. The transaction is expected to close in the
late Q3 or early Q4 of 2017.
Neff closed at $20.80, up $1.10.
Mobileye Reports Receives Acceptable Tax Ruling from Israel Tax Authority Ruling Regarding Acquisition by Intel
The Tax Ruling:
Mobileye NV (NYSE: MBLY) announced Friday
that the Israel Tax Authority has issued an acceptable tax ruling with respect to the tax treatment of its potential acquisition by
Intel Corporation (NASDAQ: INTC) pursuant
to the purchase agreement dated March 12, 2017. As a result of receipt of the tax ruling and the adoption of certain shareholder
resolutions at the general meeting of Mobileye shareholders in June, the minimum number of Mobileye shares that must be validly
tendered and not withdrawn prior to the expiration of the tender offer has been lowered from 95 percent to 67 percent.
The transaction is expected to close during Q3 of 2017.
Mobileye closed at $63.33, up 28 cents.
Unilever, Hormel Compete to Acquire Reckitt Food Division
The Rumor:
Unilever (NYSE: UN) (NYSE: UL) is competing with Hormel Foods Corp (NYSE: HRL) to acquire the food unit of Reckitt Benckiser (OTC:
RBGPF), according to a report from the UK Sunday Times.
Sources say the deal for the owner of French's mustard, is likely to be valued at more than $2.9 billion.
Unilever closed at $15.90, up 61 cents, while Hormel rose 12 cents to close at $32.83.
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