Market Overview

'Merger Monday' Lives Up To Name: From NXP Semiconductors To eBay, There's At Least $20 Billon In Total Deals

Related NXPI
Earnings Scheduled For October 26, 2016
Barron's Picks And Pans: Super Chip Stocks, Time Warner And More
Tesla Profit Shocks, ServiceNow Tops, Texas Instruments' Views Mixed (Investor's Business Daily)
Related FSL
CLSA Initiates NXP Semi At Buy, Places $105 Target
FBR Encouraged By NXP Semiconductors Positive Results And Guidance, Reiterates Top Pick Status

Over the past three days, at least seven major deals took place. The total transactions totaled more than $20 billion. Let's take a quick look at them:

  • NXP Semiconductors NV (NASDAQ: NXPI) plans to buy smaller peer Freescale Semiconductor Ltd (NYSE: FSL) in a deal valued at approximately $12 billion. Freescale shares are up more than 11 percent, while NXP gained about 16.5 percent on Monday morning. The combined enterprise is valued at more than $40 billion.
  • Hewlett-Packard Company (NYSE: HPQ) will acquire network access solutions provider Aruba Networks, Inc. (NASDAQ: ARUN) for $24.67 per share, or a total of approximately $2.7 billion (1.7 billion pounds). Both companies' shares are down on Monday morning, following the announcement.

Related Link: EXCLUSIVE: Whitney Tilson Says Lumber Liquidators Stock 'Is A Zero'

  • Mitel Networks Corp (NASDAQ: MITL) will purchase mobile networking software maker Mavenir Systems Inc (NYSE: MVNR) for $560 million in cash and stock. Mavenir's stockholders will receive $11.08 and 0.675 Mitel shares for every share they hold. Mavenir is up about 14 percent, while Mitel is down roughly 13 percent on Monday.
  • Cardinal Health Inc (NYSE: CAH) shares are inching up on Monday, after the company announced that it has offered to buy Johnson & Johnson's (NYSE: JNJ) Cordis heart device business for $1.94 billion in cash.
  • Boston Scientific Corporation (NYSE: BSX) will acquire Endo International plc (NASDAQ: ENDP) American Medical Systems' (AMS) Men's and Prostate Health businesses for up to $1.65 billion. Endo International's shares are up 2.5 percent on the news.
  • PacWest Bancorp (NASDAQ: PACW) and Square 1 Financial Inc (NASDAQ: SQBK) are down substantially on Monday, after the former announced it will buy the latter for $849 million, looking to increase its exposure to tech and life-sciences markets.
  • eBay Inc (NASDAQ: EBAY)'s PayPal plans to acquire startup Paydiant Inc. for an estimated price of $280 million.

Posted-In: CordisNews M&A Movers Tech


Related Articles (ARUN + BSX)

View Comments and Join the Discussion!