Market Overview

Benzinga's M&A Chatter for Wednesday August 13, 2014

Benzinga's M&A Chatter for Wednesday August 13, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday August 13, 2014:

Report Sanofi, Roche Bid for Intermune

The Rumor:
Shares of Intermune (NASDAQ: ITMN) spiked sharply higher Wednesday, on a report from Bloomberg that Sanofi (NYSE: SNY) and Roche (OCT: RHHBY) had submitted bids for the Brisbane, CA-based biotech company, according to sources. Centerview Partners and Goldman Sachs Group are reportedly advisors on the strategic review, which is said to be in the early stages. Intermune is said not to be soliciting takeover offers.

On Monday Betaville reported that Intermune was working with Goldman and Evercore on its strategic review.

Intermune shares closed Wednesday at $52.06, a gain of more than 14%.

Constellation Brands to Acquire Casa Noble Tequila, No Terms Disclosed

The Deal:
Constellation Brands (NYSE: STZ) (NYSE: STZ.B) announced Wednesday it will acquire the Casa Noble tequila brand, including the Casa Noble trademark and related assets. The deal is expected to close in September 2014. Terms of the purchase were not disclosed.

Constellation Brands closed at $85.88 Wednesday, a gain of $0.15.

MedAssets to Acquire SG-2 For $142M

The Deal:
MedAssets (NASDAQ: MDAS) announced Wednesday, it has agreed to acquire privately held SG-2, LLC (Sg2) for approximately $142 million, to be funded with cash on hand and borrowings under its existing credit facility.

The deal is expected to close in 60 to 90 days.

MedAssets closed Wednesday at $21.93, a gain of 1.5%.

Posted-In: News Rumors M&A Movers

 

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