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Benzinga's M&A Chatter for Tuesday October 1, 2013

Benzinga's M&A Chatter for Tuesday October 1, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday October 1, 2013:

Moneygram Spikes Lower on Report Co has Ended Talks with PE Firms

The Rumor:
Shares of MoneyGram International (NYSE: MGI) spiked lower Tuesday on a a report from Reuters that it has ended talks with private equity firms and has decided to remain a public company. According to sources, the company had been looking for an offer of approximately $25 per share. In July Euronet (NASDAQ: EEFT) and several PE firms, including Carlyle Group (NASDAQ: CG), Bain and TPG were mentioned as potential buyers for MoneyGram.

Am MoneyGram spokesperson was not available for comment on the report.

MoneyGram International closed at $18.91 Tuesday, a loss of 3.5 on triple average volume.

Sumitomo to Buy Edgen Group for $12/Share in Cash

The Deal:
Sumitomo Corporation (OTC: SSUMY) and Sumitomo Corporation of America and Edgen Group Inc. (NYSE: EDG) announced Tuesday the signing of a definitive merger agreement whereby Sumitomo will acquire all outstanding shares of Edgen Group for $12.00 per share in cash. The deal is expected to close before the end of 2013.

Edgen Group closed at $11.90 Tuesday, a gain of 56%.

Swift Energy Hires Scotia Waterous as Advisor for Potential Sale of Central Louisiana Assets

The Advisor:
Swift Energy Company (NYSE: SFY) announced Tuesday that it has retained Scotia Waterous as its exclusive advisor to assist in the potential sale of its Central Louisiana assets. The assets include approximately 86,000 mineral acres and three producing oil and natural gas fields: Burr Ferry, Masters Creek, and South Bearhead Creek located in the Austin Chalk and Wilcox fairways.

Swift Energy closed at $12.06 Tuesday, a gain of 5.6%.

Posted-In: News Rumors M&A Movers


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