Market Overview

Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday April 4 through Sunday April 6, 2014:

Mylan, Meda in Merger Talks; Meda Rejects Mylan Offer

The Merger Talks:
Shares of Mylan (NYSE: MYL) rose sharply in the premarket Friday, following a report from Financial Times the US generic drug maker was in talks to acquire Sweden's Meda (OTC: MDABF). Meda later confirmed the talks and said its Board has rejected a Mylan bid.

A merger of the two companies would create the world's largest generic drug maker. Mylan shares closed Friday, well off the high, at $50.63, a gain of 1.5.

Holcim Confirms Advanced Merger Talks with Lafarge, Cemex Shares Surge

The Merger Talks:
Shares of Mexico's Cemex (NYSE: CX) surged higher Friday on a report that Swiss cement company Holcim (OTC: HCMLF) and France's Lafarge (OTC: LFRGY) were in merger talks. The two companies later confirmed the discussions.

Cemex closed Friday at $13.58, a gain of 5%.

Rackspace Shares Rise on Chatter of Takeover Talks with IBM

The Rumor:
Renewed chatter of takeover talks between IBM (NYSE: IBM) and Rackspace (NYSE: RAX) sent shares of the web-hosting company higher Friday. According to unconfirmed sources the offer being discussed for Rackspace is $47.00 per share.

A spokesperson for Rackspace told Benzinga in an email reply the company believes it has a "solid strategic plan going forward as an independent company" and intends to execute it aggressively. An IBM spokesperson was not available for comment.

Rackspace closed Friday at $32.47, a gain of 2.5%.

Posted-In: News Rumors Management M&A Movers

 

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