Benzinga's M&A Chatter for Tuesday March 25, 2014
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday March 25, 2014:
Brookfield Renewable to Acquire Wind Portfolio of Bord Gáis Energy for $680M
Brookfield Renewable Energy Partners (NYSE: BEP) announced Tuesday an agreement to acquire the 320 MW wind portfolio of Ireland's Bord Gáis Energy for approximately $680 million. The deal is expected to close in Q2 2014.
Brookfield Renewable Energy Partners shares closed Tuesday at $27.88, a loss of 1.5%.
Inside Mortgage Finance Reports Potential Buyers have done Due Diligence on PHH
Shares of PHH (NYSE: PHH) moved higher Tuesday on a report from Inside Mortgage Finance that potential buyers have done due diligence.
A spokesperson for PHH was not available for comment.
PHH closed Tuesday at $24.90, a loss of $0.22.
Bidder Agrees to Acquire 52.9% Stake in Fuwei Films for $2.40/Share
Fuwei Films (NASDAQ: FFHL) announced Tuesday that at a fifth public auction, the Company's controlling shareholder, the Weifang State-owned Assets Operation Administration Company, accepted a bid of $2.40 per share for a 52.9% stake in the company. Information regarding the bidder will be disclosed in a separate press release when that information becomes available.
Fuwei Films shares closed Tuesday at $1.49, a gain of 33%.
Facebook Acquires Oculus VR for $2B
Facebook (NASDAQ: FB) announced Tuesday it has agreed to acquire immersive virtual reality technology company, Oculus VR. for approximately $2 billion, including $400 million in cash and 23.1 million shares of Facebook common stock. An additional $300 million earn-out in cash and stock, is based on the achievement of certain milestones.
The deal is expected to close in Q2 of 2014.
Facebook shares closed Tuesday at $64.89 and traded about 1% lower after-hours
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