The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, July 24, 2017.
WebMD To Be Acquired By KKR's Internet Brands for $66.50/Share in Cash
The Deal:
WebMD Health Corp. (NASDAQ: WBMD) and
KKR portfolio company, Internet Brands, announced Monday that Internet Brands has entered into a definitive agreement to acquire
WebMD for $66.50 per share in cash, in a transaction valued at approximately $2.8 billion. The WebMD Board of Directors approved
the merger agreement.
The acquisition is expected to close during Q4 of 2017.
WebMD closed at $66.10, up $10.91.
UPL Considers Bid For Platform Specialty Products' Agrochemicals Division
The Rumor:
India's UPL is considering a more than $4 billion bid for the agrochemicals business of Platform Specialty Products
Corp (NYSE: PAH), according to sources as reported by
Reuters. The offer would compete with a previous bid from a consortium of Blackstone Group LP (NYSE: BX) and CVC Capital Partners Ltd, the sources said. The New York Post
later reported that Blackstone was in the final stages of a deal for agricultural chemical side of Platform's business.
Platform Specialty, UPL, Blackstone and CVC did not immediately respond to requests for comment.
Platform Specialty Products closed at $13.46, up 50 cents.
Rent-A-Center Rejects Takeover Interest from HIG Capital, Lone Star Capital
The Rumor:
Rent-A-Center Inc (NASDAQ: RCII)
rebuffed takeover interest from private equity firms HIG Capital and Lone Star Funds prior to rejecting an $800 million offer from
Vintage Capital this month, according to sources as reported by Reuters. HIG and Lone Star inidcated they would pay a premium for
Rent-A-Center, though the specific offer price was unknown, the sources said.
Rent-A-Center declined comment on the report, while HIG and Lone Star did not immediately respond.
Rent-A-Center closed at $12.37, down 40 cents.
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