Market Overview

Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday February 7 through Sunday February 9, 2014:

Vintage Capital Bids to Acquire Aaron's for $30.50/Share in Cash

The Offer:
In a 13D filing on Friday, 10% shareholder Vintage Capital submitted a letter to the Board of Directors of the Aaron's (NYSE: AAN) with a non-binding proposal to acquire the company for $30.50 per share in cash. Vintage mentioned in the letter, that it had submitted three offers to the Aaron's Board in 2011, all of which were ignored.

Aaron's Board acknowledged it did receive the offer and will evaluate it, but indicated it was not currently in discussions with any party regarding a sale of the company.

Aaron's closed Friday at $28.32, a gain of more than 4.5%.

Report Altai Capital Management Targeting RealD

The Activist Stake:
According to a report from Bloomberg, activist investor Altai Capital Management is targeting 3-D technology provider RealD (NYSE: RLD), according to a source. On Friday, Altai reported a 9.8% stake in a 13D filing and is said to have met with company management regarding a potential sale, according to the source.

RealD closed Friday at $10.56, a gain of almost 12%.

Report Shareholder CtW wants Shakeup of Skechers Board

The Shareholder Comments:
Skechers (NYSE: SKX) shares moved higher Friday, as shareholder CtW Investment Group stated they want a shakeup of the Board of Directors, according to a report from Reuters. CtW said the Skechers Board was too "male, pale and stale."

Skechers will report Q4 and Full Year 2013 financial results on Wednesday February 12, after the market close.

Skechers closed Friday at $28.99, a gain of more than 4% on three times average volume.

Hudbay to Offer C$2.96 for Acquire Augusta Resource

The Offer:
HudBay Minerals (NYSE: HBM) announced Sunday that it intends to commence an offer to acquire all of the issued and outstanding common shares of Augusta Resource (NYSE: AZC) it does not already own for C$2.96 per share in HudBay stock.

Under the terms of the Offer, Augusta shareholders will receive 0.315 Hudbay common shares for each Augusta common share held, which is equal to approximately C$2.96 per Augusta common share, based on Hudbay's closing share price on the TSX on February 7, 2014.

Augusta Resource shares closed in New York on Friday at $2.28, and in Toronto at C$2.51.

Posted-In: News Rumors Management M&A Movers

 

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