Market Overview

Benzinga's M&A Chatter for Tuesday September 3, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday September 3, 2013:

Microsoft to Acquire Nokia's Devices & Services Business, License Nokia's Patents and Mapping Services for $7.2B

The Deal:
The Boards of Microsoft (NASDAQ: MSFT) and Nokia (NYSE: NOK) announced late Monday that have agreed that Microsoft will purchase substantially all of Nokia's Devices & Services business, license Nokia's patents, and license and use Nokia's mapping services. The purchase price is $7.2 billion.

The deal is expected to close in the Q1 2014.

Nokia closed at $5.12 Tuesday, a gain of 31%, while Microsoft closed at $31.88, a loss of 4.5%.

Report Ellie Mae Hires Morgan Stanley to Help Find Buyer

The Rumor:
Shares of Ellie Mae (NYSE: ELLI) surged higher late Tuesday on a report from Reuters that the company had hired Morgan Stanley as an advisor to help locate a buyer, according to sources. Several private equity firms are reportedly looking at the company.

Ellie Mae and Morgan Stanley declined comment on the rumor.

Ellie Mae closed at $29.96 Tuesday, a gain of 3%.

Post Holdings Acquires Premier Nutrition

The Deal:
Post Holdings (NYSE: POST) announced Tuesday it has completed the previously announced acquisition of the branded food and beverage business of Premier Nutrition, effective September 1, 2013.

Post Holdings closed at $41.91 Tuesday, a loss of almost 2%.

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

 

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