Benzinga's M&A Chatter for Thursday July 23, 2015
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday July 20, 2015:
Technicolor to Acquire Cisco Connected Devices Division for €550M in Cash, Stock
Technicolor (OTC: TCLRY) has agreed to acquire Cisco Systems, Inc.'s (NASDAQ: CSCO) customer premises equipment business for €550M in cash and stock. Upon closing of the transaction, Cisco will receive approximately €413 million in cash and €137 million in newly issued Technicolor shares.
Cisco gained 1.74% Thursday, closing at $28.01.
Unconfirmed Market Chatter of Netapp Approach from Cisco
Shares of NetApp, Inc. (NASDAQ: NTAP) spiked to the high of the day on Thursday, on unconfirmed market chatter that the company had been approached by Cisco Systems, Inc. (NASDAQ: CSCO) regarding a potential takeover bid. The rumored offer is $44 per share
There was unusual activity Tuesday in the July 24 $32 call at the time the rumor was circulated.
NetApp and Cisco did not respond to requests for comment on the rumor.
NetApp gained $0.25 Thursday, closing at $31.32.
Pearson to sell FT Group to Nikkei for £844M in Cash
Pearson plc (NYSE: PSO) announced Thursday, that it has agreed to sell FT Group to Nikkei Inc. for £844 million in cash. Evercore, Goldman Sachs and J.P. Morgan Cazenove were financial advisors on the deal to Pearson on this transaction. Rothschild Group was financial advisor to Nikkei.
Pearson shares closed at $19.10 on Thursday, a gain of $0.21.
T-Mobile Rumored to Take 20% Passive Stake in Gogo
Gogo declined comment on the rumor. T-Mobile commented that only agreement they announced with Gogo was for free in-flight texting last September.
Gogo shares closed at $19.33 on Thursday, a gain of more than 1%.
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