Market Overview

Benzinga's M&A Chatter for Monday July 28, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday July 28, 2014:

Dollar Tree to Acquire Family Dollar Stores for $74.50/Share in Cash, Stock Deal

The Deal:
Dollar Tree (NASDAQ: DLTR) and Family Dollar Stores (NYSE: FDO) announced Monday that they have entered into a definitive merger agreement, under which Dollar Tree will acquire Family Dollar in a cash and stock deal, valued $74.50 per share. Under the terms of the agreement, Family Dollar shareholders will receive $59.60 in cash and $14.90 in Dollar Tree shares.

The deal is expected to close in early 2015.

Family Dollar shares closed Monday at $75.74, a gain of 25%. Dollar Tree shares rose more than 1% to close at $54.87.

Zillow to Acquire Trulia for $3.5B in Stock

The Deal:
Zillow (NASDAQ: Z) announced Monday that it has agreed to acquire Trulia (NYSE: TRLA) for $3.5 billion in an all-stock transaction. The Boards of Directors of both companies have approved the deal, expected to close in 2015.

Trulia shares closed Monday at $65.04, a gain of 15%, while Zillow shares rose almost 1% to close at $160.32.

Report Apple to Acquire Radio App Swell for $30M

The Rumor:
Apple is near a deal for talk-radio app Swell, according to Re/Code.
The deal is valued at around $30 million, according to sources.

Apple did not immediately confirm the deal.

Apple shares closed Monday at $99.02, a gain of almost 1.5%

Retrophin Offers to Acquire Clinuvel Pharmaceuticals for $2.17/Share

The Offer:
Retrophin (NASDAQ: RTRX) announced Monday, that on July 17, 2014 it submitted an offer to Clinuvel Pharmaceuticals (OTC: CLVLY) Board of Directors, to acquire all of the shares of Clinuvel stock that Retrophin does not own for 0.175 Retrophin shares per Clinuvel share, or A$2.17 per share in cash. Retrophin currently owns approximately 4.88% of Clinuvel shares.

Retrophin shares closed Monday at $10.86, a loss of 5.5%.

Pilgrim's Pride to Acquire Tyson Foods Mexican Poultry Business in $400M Transaction

The Deal:
Pilgrim's Pride (NYSE: PPC) announced Monday that it will acquire the poultry businesses of Tyson Foods (NYSE: TSN) in Mexico, in a deal valued at $400 million in cash. Pilgrim's Pride, is majority owned by JBS USA Holdings.

Tyson Foods shares closed Monday at $40.56, a gain of 2.5%.

Posted-In: News Rumors M&A Movers

 

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