Market Overview

Benzinga's M&A Chatter for Thursday January 16, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday January 16, 2014:

Report Sprint Getting Financing Proposals for T-Mobile Acquisition

The Rumor:
Shares of T-Mobile US (NYSE: TMUS) surged higher Thursday, after the close on a report from Dow Jones that Sprint (NYSE: S) has received proposals from banks regarding the financing of a deal for nation's fourth-largest mobile carrier.

In December, Nikkei reported that Sprint's (NYSE: S) majority owner Softbank (OTC: SFTBY), could purchase T-Mobile in Q2, financing a deal through the U.S. bond market.

T-Mobile closed Thursday at $32.60, and traded around $33.70 after-hours.

Report Tyson Eyeing Michael Foods Acquisition

The Rumor:
Shares of Tyson Foods (NYSE: TSN) spiked higher Thursday on a report from Reuters that the world's largest meet producer was exploring a bid for Michael Foods. The deal reportedly could be worth more than $2 billion.

A spokesperson for Michael Foods said they had nothing to share regarding the report. A Tyson spokesperson was not available for comment.

Tyson Foods closed Thursday at $35.04, a gain of $0.26.

Posted-In: News Rumors M&A Movers

 

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