Market Overview

Benzinga's M&A Chatter for Thursday December 19, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday December 19, 2013.

Jazz Pharmaceuticals to Acquire Gentium for $57.00/Share in Cash

The Deal:
Jazz Pharmaceuticals (NASDAQ: JAZZ) and Gentium (NASDAQ: GENT) announced Thursday that a subsidiary of Jazz Pharmaceuticals will make a cash tender offer of $57.00 per share for all outstanding Gentium ordinary shares and ADS's, in a transaction that is valued at approximately $1 billion.

The deal is expected to close in Q1 2014.

Jazz closed Thursday at $114.72, and traded at $122 after-hours. Gentium closed at $55.65, and bid at $57.15 after-hours.

Dealertrack to Acquire for $620M in Cash and 8.7M Dealertrack Shares

The Deal:
Dealertrack Technologies (NASDSAQ: TRAK) and announced Thursday a definitive agreement for Dealertrack to acquire for approximately 8.7 million shares of Dealertrack's common stock and $620 million in cash.

The deal is expected to close in Q1 2014.

Dealertrack Technologies closed Thursday at $42.80 and traded at $45.89 after-hours.

Report Liberty Execs Estimate $700M in Synergies with Charter-Time Warner Cable Merger

The Rumor:
Reuters reported Thursday that Liberty Media (NASDAQ: LMCA) executives, including Chairman John Malone and CEO Greg Maffei, estimated that a merger between Charter Communications (NASDAQ: CHTR) and Time Warner Cable (NYSE: TWC) could generate approximately $700 million in annual synergies, according to sources.

The matter was reportedly discussed last week at a meeting with large Time Warner Cable shareholders in Denver. Bloomberg reported last week that Charter was preparing an offer of under $135 per share for the nation's second largest cable operator.

Time Warner Cable closed Thursday at $133.74, a loss of $0.75.

Posted-In: News Rumors Management M&A Movers


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