Benzinga's M&A Chatter for Wednesday April 16, 2014
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday April 16, 2014.
Post Holdings Reportedly Beats Out Tyson for Michael Foods
Shares of Post Holdings (NYSE: POST) moved sharply higher on a Wall Street Journal report that the cereal maker had won the right to acquire privately-held Michael Foods, according to sources. The deal could be announced on Thursday.
Post has apparently beat out Tyson Foods (NYSE: TSN) in a deal worth approximately $2.5 billion.
Spokespersons for Post, Tyson and Michael Foods were not available for comment.
Post Holdings closed Wednesday at $54.73, a gain of 5.5%. Tyson Foods closed at $42.75, gaining $0.31.
Zalicus, Epirus Announce Merger Agreement
Epirus Biopharmaceuticals and Zalicus (NASDAQ: ZLCS) announced Wednesday that they have agreed to merge. Under the agreement, Epirus will merge with a wholly-owned subsidiary of Zalicus in an all-stock transaction.
After the closing, Zalicus will be re-named Epirus Biopharmaceuticals and trade on the Nasdaq.
The deal is expected to close during the summer of 2014.
Zalicus closed Wednesday at $1.35, a gain of 31%.
3D Systems to Acquire Robtec
3D Systems (NYSE: DDD) announced Wednesday that it has agreed to acquire Brazil-based 3D printing and scanning products distributor, Robtec. Terms of the deal were not disclosed.
Shares of 3D Systems closed at $48.79 on Wednesday, a gain of more than 3%.
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