Market Overview

Benzinga's M&A Chatter for Friday July 19, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday July 19, 2013:

Report Barry Sternlicht Bid $17-$18/Share for Saks

The Rumor:
Shares of Saks (NYSE: SKS) spiked higher late Friday on a report from the NY Post that Starwood's (NYSE: HOT) Barry Sternlicht has bid $17-$18 per share for for the retailer. Hudson's Bay, owner of Lord & Taylor, had made a similar bid. KKR (NYSE: KKR) and Leonard Green have also been mentioned as potential buyers.

Saks closed at $15.89 Friday, a gain of 8% on 3 times average volume.

Hearing Renewed Chatter of Euronet Bid for Moneygram

The Rumor:
Shares of Moneygram International (NASDAQ: MGI) rose Friday on renewed chatter of an offer from Euronet (NASDAQ: EEFT). Carlyle Group (NASDAQ: CG), Bain, TPG, and GTCR have also been mentioned as potential buyers of Moneygram, though Deal Reporter reported on July 16 that a potential deal was off.

Spokespersons for Moneygram and Euronet were not available for comment.

Moneygram International closed at $22.06 Friday, a gain of 6.5% on 3.5 times average volume.

Qihoo 360 Talks to Acquire Sogou

The Talks:
Shares of Qihoo 360 (NASDAQ: QIHU) surged higher Friday on a report from Reuters that the company the company is in talks with Sohu.com (NASDAQ: SOHU) to acquire the Sogou search engine for up to $1.4 billion.

A Qihoo 360 spokesperson told Reuters talks were still in the preliminary stage.

Qihoo 360 closed at $58.34 Friday, a gain of 1.5% on 1.5 times average volume.

Apple Acquires HopStop, Locationary

The Deals:
Apple (NASDAQ: AAPL) has acquired online transit navigation service View HopStop, according to Bloomberg and location data startup Locationary, according to AllThingsD. The acquisitions are an attempt to keep pace with Google (NASDAQ: GOOG) Maps and correct the problems associated with the launch of their own Apple Maps.

Apple closed at $424.95 Friday, a loss of 1.5% on lower than average volume.

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

 

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