Benzinga's M&A Chatter for Wednesday May 8, 201
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 8, 2013:
Foot Locker to Buy Runners Point Group for $94M
Foot Locker (NYSE: FL) announced Wednesday that it has agree to purchase German retailer Runners Point Warenhandelsges for approximately $94 million. The transaction is subject to regulatory approval by German authorities.
Foot Locker closed at $35.86 Wednesday, a gain of $0.17 on average volume.
Outdoor Channel Agrees to $10.25/Share Offer from Kroenke Sports & Entertainment
Outdoor Channel Holdings (NASDAQ: OUTD) announced Wednesday that it entered into a second amendment to its merger agreement dated March 13, 2013 with Kroenke Sports & Entertainment, which was previously amended on May 2, 2013, under which Kroenke increased its offer to $10.25 per share in cash.
Outdoor Channel's board of directors recommends that Outdoor Channel's shareholders vote to adopt the amended merger agreement. That vote is expected to take place next week.
Outdoor Channel Holdings closed at $10.14 Wednesday, a gain of $0.04 on lower than average volume.
Trulia to Acquire Market Leader for $355M
Trulia (NYSE: TRLA) announced Wednesday that it has agreed to acquire Market Leader (NASDAQ: LEDR) for approximately $355 million, or an implied price of $11.33 per share (based on Trulia's closing share price on Tuesday, May 7, 2013). Market Leader's shareholders will receive $6.00 in cash and 0.1553 shares of Trulia's common stock for each share of Market Leader common stock under the terms of the agreement.
Trulia closed at $31.68 Wednesday, a loss of 7.75% on almost 3 times average volume. Market Leader closed at $10.84 Wednesday, a gain of almost 13% on almost 25 times average volume.
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