Market Overview

Benzinga's M&A Chatter for Wednesday March 12, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday March 12, 2014:

Energy XXI to Acquire EPL Oil & Gas for $39/Share

The Deal:
Energy XXI (NASDAQ: EXXI) and EPL Oil & Gas (NYSE: EPL) announced Wednesday the signing of a merger agreement, under which Energy XXI will acquire all of EPL's outstanding shares for total consideration of $2.3 billion, including the assumption of debt. Shareholders will have the option of either (i) $39.00 in cash, (ii) 1.669 common shares of Energy XXI, or (iii) $25.35 in cash plus 0.584 common shares of Energy XXI.

EPL closed Wednesday at $37.50, gaining almost 29%. Energy XXI closed at $21.54, a loss of almost 8%.

Carlyle Group Acquires ECi Software Solutions

The Deal:
ECi Software Solutions announced Wednesday it has been acquired by Carlyle Group (NASDAQ: CG). Terms of the transaction were not disclosed.

Carlyle Group closed Wednesday at $34.19, a loss of $0.19.

Lockheed Martin to Acquire Industrial Defender

The Deal:
Lockheed Martin (NYSE: LMT) has agreed to acquire provider of cyber security solutions for control systems in the oil and gas, utility and chemical industries, Industrial Defender. Terms of the deal were not disclosed.

Lockheed Martin closed Wednesday at $163.86, a gain of $0.06.

Posted-In: News M&A Movers

 

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