Market Overview

Benzinga's M&A Chatter for Wednesday June 11, 2014

Benzinga's M&A Chatter for Wednesday June 11, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 11, 2014:

Siemens in Talks with Misubishi for Joint Alstom Bid

The Talks:
Siemens (OTC: SIEGY) is talking with Mitsubishi Heavy Industries (OTC: MHVYF) about a joint bid to acquire Alstom's (OTC: ALSMY) energy business, in an attempt to improve on General Electric's (NYSE: GE) $17 billion bid, confirming a report by Bloomberg. The two companies will decide on submitting a joint proposal to Alstom's Board by June 16.

France President Hollande will meet with the PM and Economy Minister on Thursday, regarding the Alstom proposals. Two executives of GE are reportedly in France to meet with Alstom, according to Bloomberg.

GE shares lost $0.26 Wednesday to close at $27.15.

Alibaba to Acquire UCWeb

The Deal:
Alibaba Group announced Wednesday, it has agreed to acquire the 34% of mobile web browser company UCWeb it does not already own. The deal is said to give UC Web a valuation of more than $1.9B, although a price for the share purchase was not specified.

Alibaba's U.S. IPO is expected to price in August.

Montage Technology Group to be Acquired by Shanghai Pudong for $22.60/Share

The Deal::
Montage Technology (NASDAQ: MONT) and Shanghai Pudong Science and Technology Investment announced Wednesday, that PDSTI will acquire all of the outstanding ordinary shares of Montage for $22.60 per share, for a value of approximately $693 million. The deal is subject to approval by Montage shareholders.

Montage Technology Group closed Wednesday at $21.49, a gain of 8.5%

Report Circulating that ExxonMobil Could Offer to Acquire Anadarko Petroleum for $135/Share

The Rumor::
Shares of Anadarko Petroleum (NYSE: APC) surged higher Wednesday, on unconfirmed market chatter of a potential bid from ExxonMobile (NYSE: XOM) of $135 per share. Unnamed sources reportedly said Anadarko's presence in the Niobrara formation in Colorado and in Texas' Eagle Ford shale basin, make it attractive to the majors.

Heavy volume in the June $115 calls intensified the move.

Anadarko Petroleum shares reached an all-time high Wednesday, closing at $108.32, a gain of more than 4%.

Posted-In: News Rumors Management M&A Movers

 

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