Benzinga's M&A Chatter for Wednesday August 26, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday August 26, 2015:

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Schlumberger Limited

and Cameron

announced Wednesday, a definitive merger agreement in which the companies will combine in a stock and cash transaction, valued at 14.8 billion. Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44, valued at $66.36 per share. The deal is expected to close in Q1 of 2106. Cameron closed at $59.93 on Wednesday, up 41%. Schlumberger closed at $70.89, down more than 3%.

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Monsanto Company

announced Wednesday, that is withdrawing its bid to acquire Syngenta

, after Syngenta communicated that Monsanto's enhanced proposal did not meet Syngenta's financial expectations. Monsanto confirmed that its new proposal increased the cash component of the proposed transaction to CHF 245 per share, with a total offer of CHF 470 per share. Syngenta's Board confirmed that it received a verbal proposal from Monsanto to acquire the company at a price of CHF 245 in cash and a fixed ratio of 2.229 Monsanto shares per Syngenta share. Syngenta's Board rejected the revised proposal, said it significantly undervalued the company and was fraught with execution risk. Syngenta fell 13.5% Wednesday, closing at $67.51.

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NQ Mobile Inc.

announced Wednesday, it has entered into a legally binding framework agreement with Beijing Jinxing Rongda Investment Management Co. Ltd., a subsidiary of Tsinghua Holdings Co., Ltd and an independent third party, to sell the Company's entire stake in FL Mobile Inc., for no less than $626 million. NQ Mobile also announed it has entered into legally binding share purchase agreements, which provide for the sale of all of NQ Mobile's interest in the NationSky business to Mr. Hou Shuli, a founder and senior management member of Beijing NationSky, for an aggregate consideration of US $80 million cash. NQ shares closed at $3.03 Wednesday, and traded as high as $4.13 after-hours.