Benzinga's M&A Chatter for Thursday December 26, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday December 26, 2013:
Textron to Acquire Beech Holdings for $1.4B in Cash
Beechcraft Corporation announced Thursday, that Textron (NYSE: TXT) has agreed to acquire Beech Holdings, LLC, the parent of Beechcraft Corporation, for approximately $1.4 billion in cash The deal is expected to close during H1 2014. The agreement includes a no-shop provision which allows Beech to evaluate and accept an unsolicited proposal, superior to the Textron offer, with a $48 million deal termination fee payable to Textron.
Textron closed Thursday at $36.20, a gain of $0.20.
Arthur J. Gallagher Acquires Cleaveland Insurance Group
Arthur J. Gallagher & Co. (NYSE: AJG) announced Thursday, the acquisition of Cleaveland Insurance Group. Terms of the deal were not disclosed.
Arthur J. Gallagher closed Thursday at $46.17, a loss of $0.02.
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