Benzinga's M&A Chatter for Tuesday June 10, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 10, 2014: Allergan Board Rejects Valeant's Latest Offer The Rejection::
Allergan's AGN Board of Directors has unanimously decided that the revised unsolicited proposal dated May 30, 2014 by Pershing Square and Valeant Pharmaceuticals VRX, substantially undervalues Allergan. The Board said the offer "creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of the Company and its stockholders." Allergan CEO David E. I. Pyott said he is ready to do battle with Valeant, while a Valeant spokesperson said the rejection leaves Valeant no choice but to take the offer to the Allergan shareholders. CNBC's David Faber tweeted "Valeant hires Morgan Stanley as advisor in its hostile pursuit of Allergan- sources." Allergan shares closed Tuesday at $163.09, a loss of $1.06, while Valeant shares lost $1.08 to close at $125.55. Google to Acquire Skybox for $500M The Deal:
Google GOOGL announced Tuesday it is acquiring 5-year old satellite maker Skybox for $500M in cash, subject to adjustments. Google says "Skybox's satellites will help keep Google Maps accurate with up-to-date imagery." The deal is subject to customary closing conditions, including U.S. regulatory approvals. Google shares lost $2.43 Tuesday to close at $568.30. Synaptics Acquires Renesas SP Drivers for $475M in Cash, Adjustments The Deal:
Synaptics SYNA announced Tuesday that it has signed an agreement to acquire all of the outstanding equity of Renesas SP Drivers for $475 million in cash, plus other adjustments. The deal, which had been rumored since May 28, is expected to close in Q4 of 2014. Synaptics closed Tuesday at $66.52 and traded as high as $79.84 after-hours, as the company also reported strong guidance numbers. Priceline Acquires Buuteeq The Deal::
Priceline PCLN announced Tuesday that it has acquired hotel digital marketing platform buuteeq. Terms were not disclosed. Buuteeq will operate as an independent business within the Priceline Group. Priceline shares closed Tuesday at $1,222.88, a loss of $7.04. Celsion to Acquire EGEN The Deal:
Celsion CLSN and EGEN announced Tuesday, the signing of a definitive asset purchase agreement, under which Celsion will acquire the assets of EGEN for cash and shares of Celsion totaling $14 million. Assets include EGEN's Phase Ib DNA-based immunotherapy product candidate EGEN-001 and its therapeutic platform technologies, TheraPlas for delivery of DNA and mRNA, TheraSilence for delivery of RNA, and RAST for Cell Enabled Expression and Secretion of RNA. The deal, expected to close this month, includes an upfront payment of $10.6 million in Celsion common stock, which represents approximately 16.4% of Celsion's outstanding shares, and $3.4 million in cash. Celsion shares closed Tuesday at $3.16, a gain of almost 3%.