Market Overview

Benzinga's M&A Chatter for Wednesday November 13, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday November 13, 2013:

PetroChina Acquires Petrobras Peru Oil and Gas Assets for $2.6B

The Deal:
Petrobras (NYSE: PBR) announced Wednesday it was selling Petrobras Energia Peru to PetroChina for $2.6 billion. The transaction is subject to approval by Chinese and Peruvian authorities.

Petrobras closed Wednesday at $16.42, a gain of more than 2%.

Hearing Renewed Chatter of ArcelorMittal Interest in US Steel

The Rumor:
Shares of US Steel (NYSE: X) rose early Wednesday on renewed chatter of a takeover bid from Luxembourg-based ArcelorMittal (NYSE: MT). The two companies are frequently mentioned as a potential combination.

Spokespersons for the companies were not available for comment, but ArcelorMittal has indicated in the past they did not have an interest in US Steel.

US Steel closed Wednesday at $27.60, a gain of 2%.

Crocs Said to Explore Strategic Options

The Rumor:
Shares of Crocs (NASDAQ: CROX) spiked sharply higher midday Wednesday on a report from Bloomberg the footwear maker of was exploring strategic options, including going private, according to sources.

Crocs has reportedly held talks with KKR (NYSE: KKR) and Blackstone (NYSE: BX).

A spokesperson for Crocs was not available for comment.

Crocs closed Wednesday at $13.89, a gain of almost 10% on almost 10 times average volume.

Posted-In: News Rumors Asset Sales Insider Trades M&A Global

 

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