Benzinga's M&A Chatter for Tuesday November 17, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 17, 2015:

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Share of Micron Technology

rose Tuesday morning on a note from Macquarie analysts Deepon Nag and Matthew Prisco that Micron was the most likely target for China's Tsinghua Unigroup. The note cited a Monday

interview with Tsinghua Chairman Zhao Weiguo that it was engaged in talks with a U.S. semiconductor company and could possibly have a deal in place by the end of November. Zhao said a majority stake in a U.S. company was unlikely, as it was too sensitive for U.S. regulators. Zhao reportedly met with Micron board members in late August to discuss a potential deal and met with national security experts in hopes of putting together a deal that could pass regulatory scrutiny. Micron shares rose 2.5% Tuesday, closing at $15.28.

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Shares of Syngenta

spiked higher Tuesday, on report from

that Monsanto Co.

is considering a new approach for Syngenta, as well as crop-chemical assets from other companies, according to COO Brett Begemann. The comments were made ahead of Monsanto's investor day presentation. Both DuPont Co. and Dow Chemical Co. both said last month they are in discussions for deals on their respective agriculture units. Syngenta had rejected two previous offers from Monsanto, the last one in August, was $47 billion. Last week,

reported that a bid of $42 billion from ChemChina was rejected, and that Syngenta was in talks with other potential bidders. Syngenta shares rose more than 9% Tuesday, closing at $79.06.

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Canadian Pacific

announced Tuesday, that it has sent an offer letter to Norfolk Southern Corp.

proposing a business combination including a sizable premium in cash and stock to NS shareholders, CP believes that the proposed merged company would satisfy both US and Canadian regulatory authorities. Norfolk Southern Corporation confirmed receipt of the "unsolicited, low-premium, non-binding and highly conditional indication of interest" from Canadian Pacific

to acquire the Company for $46.72 in cash and 0.348 Canadian Pacific shares per Norfolk Southern share. Norfolk Southern closed at $86.97 on Tuesday, and traded as high as $97.50 after-hours.