Market Overview

Benzinga's M&A Chatter for Monday December 8, 2014

Benzinga's M&A Chatter for Monday December 8, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday Decmeber 5 throught Sunday December 7, 2014:

Merck to Acquire Cubist for $102/Share in Cash

The Deal:
Merck (NYSE: MRK) and Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) confirmed Monday that Merck will acquire Cubist for $102 per share in cash, in a transaction valued $8.4 billion, plus $1.1 billion in net debt. Merck, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of Cubist.

The deal is expected to close in Q1 of 2015.

Cubist shares closed Monday at $100.60, a gain of 35%.

JCDecaux Explores Offer for European Assets of Clear Channel Outdoor According to Sources

The Rumor:
Shares of Clear Channel Outdoor Holdings Inc. (NYSE CCO) spiked higher Monday, on a report from Reuters, that JCDecaux SA (OTC: JCDCXY) is considering bid for the European assets of it U.S. outdoor advertising rival. JCDecaux is the world's largest outdoor ad group.

Clear Channel Outdoor's European assets could be valued at $2.5 billion, according to sources. A Clear Channel spokesperson did not respond to a request for comment.

Clear Channel Outdoor shares closed Monday at $8.26, a gain of $0.14.

Repsol Has Revived Talks with Talisman

The Rumor:
Shares of Talisman Energy Inc. (NYSE: TLM) spiked higher Monday, on a report from Bloomberg, that talks with Spain's Repsol, SA (OTC: REPYY) have been resumed, according to sources. The talks may involve a sale of assets or the entire company.

Bloomberg reported back in July that Talisman was one of several companies being considered as an acquisition target by Repsol.

A spokesperson for Talisman Energy was not immediately available for comment.

Talisman Energy closed Monday at $3.74, a loss of 5% on twice average volume.

Apple Rumored to be Considering Stake in Twitter

The Rumor:
Shares of Twitter, Inc. (NYSE: TWTR) rose Monday, on unconfirmed market chatter that Apple Inc. (NASDAQ: AAPL) might take a 25% stake in the social media platform. The stake could be valued at $47.00 per share.

This is not the first time Apple has reportedly considered a stake in Twitter. In 2012, a report mentioned a possible stake in Twitter by Apple at less than half the current $22 billion market cap.

Twitter declined comment on the rumor. An Apple spokesperson was not available for comment.

Twitter closed Monday at $36.29, a loss of more than 5.5%.

Posted-In: News Rumors M&A Movers


Related Articles (AAPL + CBST)

View Comments and Join the Discussion!