Market Overview

Benzinga's M&A Chatter for Tuesday September 17, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday September 17, 2013:

Report Clovis Oncology Considering Sale

The Rumor:
Shares of Clovis Oncology (NASDAQ: CLVS) rocketed higher Tuesday on a report from Bloomberg that the company is considering a possible sale.

A spokesperson for Clovis Oncology told Benzinga the company was not the source of the Bloomberg report and declined further comment.

On June 3, shares surged over $86.00 as the company reported positive results from phase I/II study of CO-1686 treatment for small cell lung cancer.

Clovis Oncology closed well off the highs Tuesday at $72.44, a gain of more than 7%.

Rockwood to Sell Titanium Dioxide Pigments Business, Other Non-Strategic Businesses to Huntsman for $1.325B

The Deal:
Rockwood Holdings (NYSE: ROC) announced Tuesday that it has agred to sell its Titanium Dioxide Pigments and four other non-strategic businesses to Huntsman Corporation (NYSE: HUN) for an enterprise value of $1.325 billion, including the assumption of $225 million in pension obligations The deal is expected to close during H1 2014.

Rockwood Holdings closed at $67.21 Tuesday, a gain of almost 1%, while Huntsman closed at $19.50, a gain of almost 2%.

Hearing Renewed Takeover Chatter in Whiting Petroleum

The Rumor:
Shares of Whiting Petroleum (NYSE: WLL) rose in early trading Tuesday on renewed takeover chatter. Spain's Repsol (OTC: REPYY) is the rumored bidder at a reported $75 per share. Statoil (NYSE: STO) has been mentioned most often as a possible buyer.

A spokesperson for Whiting declined comment on the rumor. A Repsol spokesperson was not available for comment.

Whiting Petroleum closed at $54.78 Tuesday, a gain of 3.71%.

Posted-In: News Rumors M&A Movers

 

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