Benzinga's M&A Chatter for Monday June 15, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday June 15, 2015: CVS to Acquire Target's Pharmacy Business for $1.9B The Deal:
CVS Health Corporation CVS and Target Corporation TGT announced Monday, that they have entered into a definitive agreement for CVS to acquire Target's pharmacy and clinic businesses for approximately $1.9 billion. The agreement includes Target's more than 1,660 pharmacies in 47 states, as well as all new Target stores that offer pharmacy services. The pharmacies will be operated in a store-within-a-store format, to be branded as CVS/pharmacy. Timing of the deal closing is uncertain, but may occur by the end of of 2015. Target shares rose more than 1% Monday, to close at $80.45, while CVS shares rose $0.36, closing at $102.58. Niska Gas Storage Partners to Be Acquired by Brookfield Infrastructure for $4.225/Common Unit in Cash The Deal:
Niska Gas Storage Partners LLC NKA announced Monday that it and its managing member, Niska Gas Storage Management LLC, have entered into a definitive agreement to be acquired by Brookfield Infrastructure BIP and its institutional partners for $4.225 per common unit in cash. The deal is valued at approximately $911.9 million, including the assumption of debt. The deal is expected to close in H2 of 2016. Niska Gas Storage Partners shares gained 203% Monday, to close at $3.974. iDreamSky Receives Preliminary Non-Binding Proposal of $14.00/ADS in Cash The Offer:
iDreamSky Technology Limited DSKY announced Monday, that its board of directors has received a preliminary non-binding proposal letter, dated June 13, 2015, from Michael Xiangyu Chen, Chairman and CEO, to acquire all the outstanding Class A and Class B ordinary shares of the company not owned by him or his affiliates, for $14.00 per ADS in cash. The Board has formed a special committee consisting of independent directors (the "Special Committee") to consider the proposal. The Board expects that the Special Committee will retain independent advisors, including independent financial and legal advisors, to assist it in this process. iDreamSky shares lost almost 10% Monday, closing at $13.13. Hearing Unconfirmed Market Chatter of Potential Google Bid for Zillow The Rumor:
Shares of Zillow Z spiked higher Monday, on unconfirmed market chatter of a potential offer from Google GOOGL. Google is said to be considering an offer of $120 to $135 per share for Zillow and has plans to integrate the house listings onto Google Maps. Spokespersons for Zillow and Google were not available for comment. Zillow shares gained $0.25 Monday, closing at $86.33 Report Kandi Technologies Could be Next 'Going Private' Target The Rumor:
Shares of Kandi Technologies KNDI rose early Monday on a report from Deal Reporter that the electric vehicle maker could be the next Chinese company in line for a "going private" proposal. A spokesperson for Kandi was not immediately available for comment. Shares of Kandi Technologies lost 3.72% Monday, closing at $10.10. Healthcare Stocks Volatile on Multiple Reports of Takeover Interest The Rumor:
Shares of Cigna Corp. CI spiked higher Monday on a report from the Wall Street Journal that Anthem Inc. ANTM has offered as much as $175 per share for the Bloomfield, CT- based healthcare company. Cigna reportedly rejected that offer and an earlier one, according to sources. Shares of Humana Inc. HUM, which had been rumored late last month to have received approaches from Cigna and Aetna Inc. AET, fell sharply, after initially spiking higher. Later, the Wall Street Journal reported that UnitedHealth Group Inc. UNH had it sights set on Cigna and Aetna, while a deal with Humana could raise regulatory issues. Shares of Cigna gained 11.74% Monday, closing at $153.43, Aetna gained 4.5% to close at $121.01 and Humana lost 2.77%, closing at $206.58. Hearing Unconfirmed Market Chatter Axiall May Explore Sale The Rumor:
Shares of Axiall Corp AXLL spiked higher Monday on unconfirmed market chatter the company may consider strategic options, which include a potential sale. Axiall responded to the rumor in a note to Benzinga: "Axiall has demonstrated a practice of maintaining an open dialogue with its shareholders, including Shapiro Capital Management, and we welcome the input of all shareholders. Our board of directors and executive management team regularly reviews Axiall's strategic plans and priorities, and are always open to receiving constructive input towards our shared goal of increasing long-term value for all of the Company's stakeholders." Axiall shares gained 5.5% Monday, closing at $39.66.