Market Overview

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

The Rumor:
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

The Deal:
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

The Deal:
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%.

Posted-In: News Rumors M&A Movers

 

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