Market Overview

Benzinga's Weekend M&A Chatter


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday January 9 through Sunday January 11, 2015

Shire to Acquire NPS Pharma for $46.00/Share

The Deal:
Shire plc (NASDAQ: SHPG) and NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) announced Sunday, that Shire will acquire all the outstanding shares of NPS Pharma for $46.00 per share in cash, for a total value of around $5.2 billion. The transaction has been approved by the Boards of Directors of both companies.

The deal is expected to close in Q1 of 2015.

NPS Pharmaceuticals shares closed Friday at $41.91, a loss of $1.01. Shire gained $3.40 Friday, closing at $217.49.

Silicon Image Exploring Strategic Alternatives, According to Sources

The Rumor:
Shares of Silicon Image Inc. (NASDAQ: SIMG) spiked higher on a report from Reuters, that the company is exploring strategic alternatives, including a potential sale. Sources say Silicon Image has hired Barclays Plc as advisor to assist in the review process. The company has been under pressure from activist hedge fund firm Engaged Capital LLC.

Silicon Image shares rose almost 7% Friday, closing at $6.23.

Talks between Loral, Ontario Teachers' Pension Plan End

The Rumor:
Talks between Loral Space & Communications, Inc. (NASDAQ: LORL) and the Ontario Teachers' Pension Plan have ended, according to the New York Post. Sources say the two parties had discussed a deal for Loral at ~$85 per share. The deal was to be completed once Loral settled a suit with Via­Sat Inc.

The talks are said to have fallen apart over issues between Loral investor Mark Rachesky and the Ontario Teachers.

Shares of Loral closed Friday at 78.35. Up 0.13.

Posted-In: News Rumors M&A Movers


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