Market Overview

Benzinga's M&A Chatter for Wednesday February 19, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday February 19, 2014:

Signet to Acquire Zale for $21.00/Share in Cash

The Deal:
Signet Jewelers (NYSE: SIG) and Zale (NYSE: ZLC) announced Wednesday that they have an agreement for Signet to acquire all of the issued and outstanding stock of Zale for $21.00 per share in cash. The transaction is subject to Zale shareholder and regulatory approvals.

Zale closed Wednesday at $20.92, a gain of 40%, while Signet Jewelers gained 18%, closing at $93.65.

Safeway in Talks for Possible Sale of Company

The Guidance:
Safeway (NYSE: SWY) announced Wednesday it is in discussions regarding a potential sale of the company. Safeway said the discussions are ongoing, no agreement has been reached, and there is no guarantee of a deal.

Safeway did not comment further on the talks.

Safeway closed Wednesday at $34.61, and traded at $35.75 after-hours. Safeway also report a Q4 earnings beat with some cautious guidance.

Facebook Acquires Whatsapp for $19B in Cash Stock Deal

The Deal:
Facebook (NASDAQ: FB) announced after the close Wednesday, it was acquiring the maker of chat app Whatsapp for $4 billion in cash and $16 billion in Facebook stock, plus $3 billion in restricted stock units.

Whatsapp has 450 million users and is currently adding one million users per day.

Facebook closed Wednesday at $68.06, but traded as low as $64.18, following the announcement.

Report Furiex Seeking a Buyer

The Rumor:
Shares of Furiex Pharmaceuticals (NASDAQ: FURX) spiked near $114 per share Wednesday, on a report from Bloomberg the company was seeking a potential buyer, as it nears regulatory approval for its irritable bowel treatment, according to sources. Furiex reportedly unsuccessfully attempted a sale through an auction process in 2013.

A spokesperson for Furiex declined comment.

Furiex Pharmaceuticals closed Wednesday at $98.50, a gain of just 1%.

Posted-In: News Rumors M&A Movers

 

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