The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, August 17, 2017.
United Rentals to Acquire Neff Corporation for $25/Share in Cash
The Deal:
United Rentals, Inc. (NYSE: URI) and
Neff Corp (NASDAQ: NEFF) announced that
United Rentals will acquire Neff for $25 per share in cash, for a total purchase price of approximately $1.3 billion. The boards of
directors of United Rentals, which had previously been referred to as a "strategic bidder" and Neff unanimously approved the
agreement. The transaction is expected to close in Q4 of 2017.
In lieu of this new merger agreement with United Rentals, Neff terminated its previously announced merger agreement with
H&E Equipment Services, Inc, (NASDAQ: HEES) and United Rentals has paid H&E a termination fee of approximately $13.2
million on behalf of Neff.
Neff closed at $24.80 on Thursday, up 25 cents.
Hormel Foods Acquires Fontanini Italian Meats and Sausages for $425M
The Deal:
Hormel Foods Corp (NYSE: HRL) acquired
Fontanini Italian Meats and Sausages from Capitol Wholesale Meats for $425 million. The purchase was structured as an asset
sale.
Hormel closed at $33.86, down 49 cents.
Blackstone to Acquire Harvest Fund Advisor
The Deal:
Blackstone (NYSE: BX) has entered into an
agreement to acquire investment management firm, Harvest Fund Advisors, which has over $10 billion in assets under management.
Terms of the agreement were not disclosed.
Blackstone closed at $31.60, down 57 cents.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.