Market Overview

Benzinga's M&A Chatter for Thursday September 26, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 26, 2013:

eBay to Acquire Braintree for $800M in Cash

The Deal:
eBay Inc. (NASDAQ: EBAY) announced Thursday that it has agreed to acquire global payment platform Braintree for approximately $800 million in cash.

The transaction is expected to close late Q4 2013.

eBay closed at $56.64 Thursday, a gain of 4.5%.

Report Tower Group Hires JPM Morgan to Find a Buyer

The Rumor:
Shares of Tower Group (NASDAQ: TWGP) surged higher Thursday on a report from Insurance Insider that the company has hired JP Morgan as an advisor to assist in finding a buyer. On August 7, the company cancelled the release of its Q2 earnings report and conference call.

A spokesperson for Tower Group was not available for comment.

Tower Group closed at $8.17 Thursday, a loss of $0.05.

Report KKR Withdraws from Jones Group Sale Proces

The Rumor:
Shares of Jones Group (NYSE: JNY) fell sharply late Thursday on a report from Reuters that KKR (NYSE: KKR) was pulling out of the sale process, according to sources. KKR and Sycamore Partners were reportedly seeking a buyout of the full company.

A spokesperson for KKR declined comment on the report. A Jones Group spokesperson was not available for comment

Jones Group closed at $15.64 Thursday, a loss of $0.01.

Posted-In: News Rumors M&A Movers

 

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