Benzinga's M&A Chatter for Monday September 30, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday September 30, 2013:
ACTIVE Network to be Acquired by Vista Equity Partners for $14.50/Share in Cash
ACTIVE Network (NYSE: ACTV) announced Monday that it has agreed to be acquired by Vista Equity Partners for $1.05 billion, or $14.50 per share in cash. The deal is expected to close before the end of Q4 2013.
A deal was rumored on September 24.
The Active Network closed at $14.31 Monday, a gain of 25%.
Hearing Renewed Takeover Chatter in Tower Group
Shares of Tower Group (NASDAQ: TWGP) spiked higher Monday on a report from Insurance Insider that Enstar and Catalina are in talks with the troubled insurer. On Friday, the publication reported Tower had hired Barclays and Bank of America as advisors on a possible deal.
Tower Group closed at $7.00 Monday, a gain of $0.09.
Brookfield Property Partners Proposes to Acquire Brookfield Office Properties for $19.34/Share in Cash
Brookfield Property Partners (NYSE: BPY) announced Monday that it proposes to acquire Brookfield Office Properties (NYSE: BPO) through a tender offer for $19.34 per share in cash or 1.0 limited partnership unit of Brookfield Property Partners.
The Brookfield Office Properties Board announced Monday, it has established a special committee to review and consider the proposal, and advised shareholders of Brookfield Office Properties not to take any action with respect to the proposal at this time.
Brookfield Office Properties closed at $19.07 Monday, a gain of 13% on 20 times average volume.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.