Market Overview

Benzinga's M&A Chatter for Monday January 27, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday January 27, 2014:

Comcast Near Deal with Charter to Acquire Certain Time Warner Cable Assets

The Rumor:
Shares of Charter Communications (NASDAQ: CHTR) rose sharply Monday, on a report from Bloomberg that Comcast (NASDAQ: CMCSA) would acquire certain assets of Time Warner Cable (NYSE: CMCSA), should Charter complete a deal to acquire TWC. Reports of that potential surfaced late Friday.

Shares of Cablevsion Systems (NYSE: CVC) also spiked higher, as Friday's report mentioned Comcast might pursue a bid for Cablevision.

Charter Communications closed Monday at $31.27, a loss of 1.5%.

Ariad Shares Selloff as Traders Doubt Rumors of a Deal

The Selloff:
Shares of Ariad Phamaceuticals (NASDAQ: ARIA) gave up recent gains Monday, as traders lost faith in last week's Daily Mail rumor that Eli Lilly (NYSE: LLY) and other big pharma could bid as much as $20 per share.

Adam Feuerstein, in TheStreet.com, reported comments by a short-seller who is doubting such a deal would be made, based on potential competing drugs from Novartis (NYSE: NVS) for Ariad's Iclusig and AP26113.

Ariad Phamaceuticals closed Monday at $7.91, a loss of 12%.

Report Texas Industries Reaches Agreement to Sell to Martin Marietta

The Rumor:
Share of Texas Industries (NYSE: TXI) moved higher late Monday, on a report from Bloomberg the company had reached an agreement to be acquired by Martin Marietta (NYSE: MLM), according to sources. Talks between the two companies had been rumored on Friday.

Texas Industries closed Friday at $71.54, a loss of 4.5%, but traded more than 1% higher after

Posted-In: News Rumors M&A Movers

 

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