Benzinga's M&A Chatter for Wednesday April 22, 2015

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday April 21, 2015:
Mylan May Raise Bid for PerrigoThe Rumor
:

Shares of Perrigo
PRGO
rose Wednesday, following a a report from CNBC's David Faber, that Mylan would submit a new bid for Perrigo. On Tuesday, Perrigo's Board unanimously rejected the $205.00 per share offer from Mylan, indicating that it substantially undervalues the company and is not in the best interests of shareholders. Teva Pharmaceutical Industries
TEVA
announced Tuesday, it was proposing to acquire all of the outstanding shares of Mylan for $82.00 per share, contingent on Mylan not completing its proposed acquisition of Perrigo. Spokespersons for the companies were not available for comment. Perrigo shares rose 4.5% Wednesday, closing at $201.50. Teva shares lost $1.15, closing at $63.01. Mylan fell 2.25% to close at $72.40.
Procera Networks to Be Acquired by Francisco Partners for $11.50/ShareThe Deal
:

Procera Networks, Inc.
PKT
announced Wednesday, that it has an agreement to be acquired by private funds managed by Francisco Partners Management for approximately $240 million in cash, or $11.50 per share. The deal is expected to close in June 2015. Procera shares rose 20% Wednesday, closing at $11.42.
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ARRIS to Acquire Pace for $2.1B in Cash, Stock DealThe Deal
:

ARRIS Group, Inc.
ARRS
and Pace plc.
OCMXF
announced Wednesday, that ARRIS will acquire Pace for $2.1 billion in cash and stock. The deal is expected to close in late 2015. ARRIS shares rose 1.25% Wednesday, and traded as high as $39 after-hours.
DuPont Acquires Taxon BiosciencesThe Deal
:

DuPont announced Wednesday, it has agreed to acquire microbiome discovery company Taxon Biosciences. Financial terms were not disclosed. The deal is expected to close in Q2 of 2015. DuPont shares rose 1% Wednesday, closing at $71.44.
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Posted In: NewsRumorsM&AMovers
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