Benzinga's M&A Chatter for Tuesday June 25, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 25, 2013:
Sprint Shareholders Approve Merger with SoftBank
Approximately 98 percent of the votes cast were in favor of the merger agreement.
Under the agreement, Sprint stockholders will have the option to elect to receive cash in the amount of $7.65 per share or one of New Sprint common stock for each share of Sprint common stock they currently own.
The merger is expected to be completed in July 2013.
Sprint closed at $20.70 Tuesday, a gain of 67% on twice average volume.
Hearing Maket Chatter of Potential Nike Bid for Lululemon
Neither Lululemon nor Nike spokespersons were available for comment on the rumor.
Lululemon Athletica closed at $62.52 Tuesday, a gain of almost 2% on average volume.
Home BancShares and Liberty Bancshares Announce Business Combination
Home BancShares (NASDAQ: HOMB) and Liberty Bancshares announced Tuesday the signing of a definitive agreement for Liberty to merge into Home. Under the terms of the agreement, Liberty shareholders will receive $250 million of Home common stock plus $30 million in cash.
Home Bancshares closed at $22.82 Tuesday, a gain of almost 8% on 3.5 times average volume.
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