Market Overview

Benzinga's M&A Chatter for Thursday April 11, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday April 11, 2013:

LinkedIn Acquires Pulse for $90M in Cash, Stock Deal

The Deal:
LinkedIn (NYSE: LNKD) announced Wednesday it agreed to acquire Pulse, a leading news reader and mobile content distribution platform, for $90 million, 90% in stock, 10% in cash. The acquisition is expected to close during the second quarter of 2013.

LinkedIn closed at $180.18 Thursday, a gain of 1.5% on average volume.

Report of Comments by Former KPMG Partner Sends Herbalife Shares Higher

The Conversation:
Shares of Herbalife (NYSE: HLF) traded over $40 on Thursday, on a report that Ex-KPMG partner Scott London had discussed with friend Bryan Shaw, information about the company, including a rumor that it was going private.

Criminal and civil charges were filed on Thursday against London, who is accused of providing Shaw with inside information about five KPMG clients, including Herbalife.

A spokesperson for Herbalife declined comment on the report.

Herbalife closed at $38.28 Thursday, a gain of 3% on 1.5 times average volume.

Avago Technologies to Acquire CyOptics for $400M in Cash

The Deal:
Avago Technologies (NASDAQ: AVGO) announced Thursday, an agreement to acquire CyOptics for an aggregate acquisition price of approximately US$400 million in cash.

The transaction is expected to close during Avago's third fiscal quarter of 2013.

Avago Technologies closed at $35.63 Thursday, a gain of $0.25 on lower than average volume.

Report Rockwood Holdings Getting Bids from BASF, Albemarle

The Rumor:
Shares of Rockwood Holdings (NYSE: ROC) traded as high as $63.61 Thursday on a Deal Reporter story that BASF (OTC: BASFY) and Albemarle (NYSE: ALB) were potential buyers for the specialty chemicals and advanced materials company. Reuters reported on March 20 that the company could seek a sale of 2 units for $2 billion.

Spokespersons for Rockwood and BASF declined comment on the rumor. An Albemarle spokesperson was not available for comment.

Rockwood Holdings closed at $62.87 Thursday, a gain of 2.75% on 1.5 times average volume.

Hearing Unconfirmed Market Chatter of Novartis Interest in Prolor Biotech

The Rumor:
Shares of Prolor Biotech (NYSE: PBTH) surged higher early Thursday on unconfirmed market chatter of a potential bid from Novartis (NYSE: NVS). Later, a report from Globes, said there are no talks for a sale of the company.

Spokespersons for Prolor and Novartis declined comment on the rumor.

Prolor Biotech closed at $5.47 Thursday, a gain of 9% on 31 times average volume.

Report Two Groups Bidding for BMC Software

The Rumor:
Reuters reported Thursday that two groups, one led by KKR (NYSE: KKR) and another by Bain Capital, are prepared to submit final bids for BMC Software (NASDAQ: BMC) on April 22, according to sources. Bids reportedly could reach the upper $40s. Shareholder Elliott Management has been pressuring BMC to make a deal.

A spokesperson for BMC declined comment on the report.

BMC Software closed at $45.02 Thursday, a gain of $0.27 on 2.5 times average volume.

Posted-In: News Rumors M&A Global After-Hours Center Movers

 

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