Benzinga's M&A Chatter for Wednesday November 12, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday November 12, 2014:

Enterprise Products and Oiltanking Partners Announce Merger AgreementThe Deal

Enterprise Products Partners L.P.

EPD

and Oiltanking Partners, L.P.

OILT

announced Wednesday, that the companies have entered into a merger agreement. Under the terms of the agreement, Oiltanking Partners would merge with a subsidiary of Enterprise in a unit-for-unit exchange. Oiltanking Partners unitholders would receive 1.3 Enterprise common units for each Oiltanking Partners common unit. The merger is expected to be completed in early 2015. Oiltanking Partners shares gained almost 7% Wednesday, to close at $48.30.

Yahoo Shareholders Push for Merger with AOLThe Shareholder Comments

Two major Yahoo! Inc.

YHOO

shareholders are asking AOL Inc.

AOL

CEO Tim Armstrong to consider a merger of the two companies, according to

Reuters. The shareholders are reportedly unhappy with the performance of Yahoo CEO Marissa Mayer and would like Armstrong to head a combined company. Yahoo shareholder Starboard Value LP, has pushed for a deal with AOL, including a spinoff of some Yahoo assets. Starboard did not speak to Reuters for this story. AOL and Yahoo declined comment on the report. Yahoo shares rose 3% Wednesday, to close at $50.60, while AOL shares more than 1%, closing at $45.84. BB&T to Acquire Susquehanna Bancshares for $13.50/Share in Cash, Stock Deal The Deal:
BB&T Corporation BBT and Susquehanna Bancshares, Inc. SUSQ announced Wednesday that BB&T will acquire Susquehanna in a cash and stock transaction valued at approximately $2.5 billion. Susquehanna shareholders will receive 0.253 shares of BB&T common stock, plust $4.05 in cash for each share of Susquehanna common stock, valued at $13.50, per share based on the average closing price of BB&T over the 45 trading days ending on November 10, 2014. Susquehanna Bancshares closed Wednesday at $13.12, a gain of $3.22. BB&T shares lost $0.66 to close at $37.67. Churchill Downs to Acquire Big Fish Games for $485M, Plus Considerations The Deal:
Churchill Downs Incorporated CHDN and online and mobile game producer, Big Fish Games, announced Wednesday an agreement under which Churchill Downs will acquire all of the outstanding stock and equity interests of Big Fish for a value of up to $885 million, including a base consideration of $485 million, a potential earn-out payment of up to $350 million based on 2015 Adjusted EBITDA, and a potential bonus payment to founder and CEO, Paul Thelen, of $50 million based on 2016 bookings. The deal is expected to close by the end of the year. Churchill Downs closed Wednesday at $104.55, a gain of $0.12. Riverbed to Take Initial Bids Next Week The Rumor:
Shares of Riverbed Technology, Inc. RVBD surged higher Wednesday on a report from Deal Reporter that the company will be beginning accepting the first round of bids next week. Shareholder Elliott Management has been pushing the Riverbed Board to sell, either to Elliott or another buyer, without success. Elliott has offered $21.00 per share for Riverbed and has reaffirmed that offer several times. Riverbed and Elliott Management did not respond to requests for comment. Riverbed Technology closed Wednesday at $19.57, a gain of 3.5%. BHP Billiton Rumored to Offer $25.00/Share for Peabody Energy The Rumor:
Shares of Peabody Energy Corp. BTU rose Wednesday on unconfirmed takeover chatter that BHP Billiton Limited BHP might offer $25 per share. On October 28, a Form 4 filing showed Peabody director Karn purchased 9,000 Shares at $10.35 per share. Spokespersons for Peabody and BHP declined comment on today's rumor. A source familiar with the matter, said M&A was not part of BHP's plan. Peabody Energy closed Wednesday at $11.60, a gain of 4.22%.

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