Benzinga's M&A Chatter for November 30, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday November 30, 2015:

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ITC Holdings Corp.

announced Monday, that the company's Board of Directors has initiated a review of strategic alternatives, which may include a sale or other initiatives to maximize value for shareholders. The announcement was in response to a report from

which indicated National Grid Plc

and Spain's Iberdrola SA

were among companies that may submit proposals for ITC, according to sources. ITC shares rose 9.27% Monday, closing at $36.88.

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iKang Healthcare Group, Inc.

announced Monday, that its Board received a preliminary non-binding proposal letter, dated November 27, 2015, from Jiangsu Sanyou Group Co., Ltd., Cathay Capital Private Equity SAS, Shenzhen Ping An Decheng Investment Co., Ltd., Taiping Guofa (Suzhou) Capital Management Co., Ltd., Sequoia China Investment Management LLP and Huatai Ruilian Fund Management Co., Ltd. proposing a going-private transaction to acquire all of the outstanding Class A common shares and Class C common shares and ADSs, for $22.00 per ADS in cash. The special committee of independent directors will consider and evaluate the offer. A group led by Chairman and CEO Ligang Zhang had offered $17.80 per ADS on August 31. iKang rose 16.28% Monday, closing at $19.50.

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Mattress Firm Holding Corp.

announced Monday that it has agreed to acquire HMK Mattress Holdings LLC, the holding company of Sleepy's and related entities, for $780 million. The deal is expected to close on H1 of FY 2016. Mattress Firm closed at $49.36 Monday, and traded as high as $54.90 after-hours.