The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, September 7, 2017.
Amcor Considering Takeover of Bemis
The Rumor:
Amcor is said to be working with advisors on a potential bid for Bemis Company, Inc. (NYSE: BMS), according to sources as reported by Bloomberg. The process is at an early
stage and it's unknown if an offer has been made, the sources said.
Amcor stated it was "continually reviewing opportunities to improve shareholder value and, as part of that process, regularly
assesses a range of strategic options." Bemis did not immediately respond to Bloomberg with a comment.
Bemis closed at $46.90 on Thursday, up $4.23.
Time Getting Second Look from Meredith
The Rumor:
Shares of Time Inc (NASDAQ: TIME) spiked
to a high of $13.40 Thursday as Meredith (NYSE: MDP) was said to possibly be taking a renewed interest in the publisher of People,
according to sources. Previous bids from Meredith and from a group led by Edgar Bronfman, fell short of the $20.00 per share sought
by Time, according to various media reports.
Time closed at $13.20, up 40 cents.
Newell Brands to Acquire Chesapeake Bay Candle for $75M
The Analyst Comments:
Newell Brands Inc (NYSE: NWL) announced an agreement
to acquire Chesapeake Bay Candle from its founders, for $75 million. The transaction is expected to close in Q4 of 2017.
Newell Brands closed at $44.76, down $2.27.
NuVasive Acquires Vertera Spine
The Deal:
NuVasive, Inc. (NASDAQ: NUVA) announced the
acquisition of privately-held medical device company Vertera Spine. The company develops and commercializes highly innovative
interbody implants for spinal fusion using patented technology.
Terms were not disclosed.
NuVasive closed at $60.07, down $1.25.
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