Benzinga's M&A Chatter for Wednesday March 19, 2014
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday March 19, 2014:
Horizon Pharma Acquires Vidara Therapeutics for $660M in Stock, Cash Deal
Horizon Pharma (NASDAQ: HZNP) and Vidara Therapeutics announced Wednesday an agreement under which Horizon will acquire Vidara through a reverse merger for $660 million in stock and cash. Under the terms of the agreement, stockholders of Horizon Pharma would own approximately 74 percent of Horizon Pharma and Vidara shareholders would own approximately 26 percent. Shareholders of Horizon Pharma would receive one ordinary share of Horizon Pharma, in exchange for each share of Horizon Pharma common stock they own at closing.
The deal is expected to close mid-year 2014.
Horizon Pharma closed Wednesday at $16.02, a gain of 9%.
Palo Alto Networks Reportedly in Talks to Acquire Cyvera for $200M
Palo Alto Networks (NASDAQ: PANW) is in advanced talks to acquire cyber security company Cyvera, according to Israel's Globes. Sources say the purchase price will be $150-$200M.
Spokespersons for the two companies declined comment.
Palo Alto Networks closed Wednesday at $78.66 a loss of 1.5%.
Report Treehouse Foods Weighing Bid for Michael Foods
Shares of Treehouse Foods (NYSE: THS) surged higher Wednesday on a report from Reuters that the company has joined a list of companies bidding for privately-held Micahel Foods. Reuters reported on January 16 that Tyson Foods (NYSE: TSN) was considering an offer of $2B+ for Michael Foods.
A spokesperson for Tyson declined comment on this new report. Spokespersons for Treehouse and Michael Foods were not available for comment.
Treehouse Foods closed Wednesday at $74.90, a gain of almost 2%. Tyson Foods closed at $41.91, a loss of 1%.
Report Siebert Financial Exploring Sale
Shares of Siebert Financial (NASDAQ: SIEB) rose sharply Wednesday on a report from Bloomberg the brokerage company, founded by Muriel Siebert, is for sale, according to sources. E*Trade (NASDAQ: ETFC), TD Ameritrade (NASDAQ: AMTD) and Scottrade are being mentioned as potential buyers.
A spokesperson for Siebert Financial was not available for comment.
Siebert Financial closed Wednesday at $3.24, a gain of almost 59%.
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