Market Overview

Benzinga's M&A Chatter for Wednesday October 23, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday October 23, 2013:

American Realty Capital Properties to Acquire Cole Real Estate Investments for $14.59/Share

The Deal:
American Realty Capital Properties (NASDAQ: ARCP) and Cole Real Estate Investments (NASDAQ: COLE) announced Wednesday that they have agreed that ARCP will acquire Cole for $14.59 per share in ARCP common stock or $13.82 per share in cash. The transaction is expected to close in H1 2014.

On October 17, Benzinga reported heavy buying in the November 12.5 and November 15 Cole calls. The November 15 call traded up 3900% at one point on Wednesday.

Cole Real Estate Investments closed Wednesday at $13.95, a gain of almost 9%.

Report US Bancorp Weighing Bid for RBS Unit's Chicago Branches

The Rumor:
Shares of Royal Bank of Scotland (NYSE: RBS) spiked higher mid-afternoon Wednesday on a report from Bloomberg that US Bancorp (NYSE: USB) was considering bidding for the bank's US branches, which are a part of the Citizens Financial Group unit. Sources say Fifth Third Bancorp (NASDAQ: FITB) Wintrust Financial (NASDAQ: WTFC), FirstMerit Corp. (NASDAQ: FMER) and PrivateBancorp (NASDAQ: PVTB) are also interested.

Royal Bank of Scotland closed Wednesday at $11.39, a loss of 3%.

Oracle Buys BigMachines

The Deal:
Oracle (NYSE: ORCL) announced Wednesday that it has agreed to acquire cloud-based Configure, Price and Quote solution provider BigMachines. Terms were not disclosed.

Oracle closed Wednesday at $32.70, a loss of $0.2

Posted-In: News Rumors M&A Global Movers Tech

 

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