The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, August 2, 2017.
Hasbro Ends Talks to Acquire Lionsgate
The Rumor:
Hasbro, Inc. (NASDAQ: HAS) has ended
discussions to acquire Lionsgate Entertainment Corp (NYSE:LGF-A), according to sources as reported by Reuters. Not
being able to agree on price was the main sticking point in the negotiations, the source said.
Hasbro and Lionsgate did not respond to requests for comment.
Lionsgate closed at $29.33, up 22 cents.
Food Stocks Surge on M&A Rumors
The Rumor:
Shares of food-related stocks, including General Mills, Inc. (NYSE: GIS), Tyson Foods, Inc. (NYSE: TSN) and Treehouse Foods Inc. (NYSE: THS) surged higher Wednesday on M&A rumors. According to media reports, UK meat
processor Hilton Food Group is in talks to acquire Icelandic Seachill from Icelandic Group. Hilton, in a press release,
acknowledged the media speculation regarding a potential acquisition, confirming early stage of discussions regarding a
transaction.
Earlier in the day, DealReporter said Kraft Heinz (NYSE: KHC) could pursue an acquisition of Mondelez International Inc
(NASDAQ: MDLZ) now that CEO Irene Rosenfeld is gone.
General Mills closed at $56.07, up 87 cents.
PharMerica to be Acquired by KKR for $29.25/Share in Cash
The Deal:
PharMerica Corporation (NYSE: PMC) has
entered into a definitive merger agreement to be acquired by a newly formed company controlled by KKR (NYSE:
KKR), for $29.25 per share in cash. Walgreens Boots
Alliance, Inc. (NASDAQ: WBA) will be a minority
investor.
The transaction is expected to be completed by early 2018.
Innophos closed at $28.95, up $3.90.
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