Benzinga's M&A Chatter for Tuesday December 16, 2014

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 16, 2014
Report Pantry Close to $1B SaleThe Rumor
:

Shares of The Pantry, Inc.
PTRY
rose 12% after-hours Tuesday, on a
Wall Street Journal
report that the company is close to a deal to be acquired for as much as $1 billion, according to sources. Pantry has reportedly hired an investment bank and bids were submitted last week. Sources say a deal could be announced within days. Pantry shares closed Tuesday at $28.85, and traded as high as $34.00 after hours.
Citgo Receiving Bids Valuing Co at ~$10BThe Rumor
:

Venezuela's Citgo Petroleum Corp has received revised bids from at least four companies, including Marathon Petroleum Corp
MPC
, Valero Energy Corp
VLO
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and HollyFrontier Corp
HFC
, that could value Citgo at more than $10 billion, according to a report from
Reuters
. Sources say some of the bids were above the $10 billion level, while others were less than $7 billion. There is uncertainty as to whether the Venezuelan government will sell Citgo. Citgo declined comment on the report.
Repsol to Acquire Talisman Energy for $8.00/Share In CashThe Deal
:

Talisman Energy
TLM
announced Tuesday, that it has entered into a definitive agreement, under which Repsol, S.A.
REPYY
will acquire all of the outstanding common shares of Talisman for US$8.00 per share in cash. The Talisman Board has unanimously approved the transaction; Talisman's common shareholders and preferred shareholders will vote on the transaction at a special meeting of shareholders to be held mid-February 2015. Talisman shares gained 48% Tuesday, to close at $7.58.
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Posted In: NewsRumorsM&AMovers
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