Market Overview

Benzinga's M&A Chatter for Thursday March 3, 2016

Samsonite to Acquire Tumi for $26.75/Share in Cash
Samsonite Full-Year Profit Surges

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday March 3, 2016:

Talk of Potential Elon Musk Bid for SolarCity

The Rumor:
Shares of Solar City (NASDAQ: SCTY) surged higher Thursday, on unconfirmed market chatter that Elon Musk was going to acquire the company outright and take it private. Musk, SolarCity Chairman, increased his stake last month to 22.6%.

A spokesperson for Tesla declined comment. A SolarCity spokesperson did not respond to a request for comment.

SolarCity closed at $22.75 on Thursday, up 17%.

Natus Medical Acquires NeuroQuest

The Deal:
Natus Medical Incorporated (NASDAQ: BABY) announced Thursday, that it has acquired the assets of neurodiagnostic services provider NeuroQuest, LLC. Terms of the transaction were not disclosed.

Natus Medical closed at $36.74 on Thursday, up 3.5%.

Diamond Resort Could be Taken Private at $32-$35/Share

The Rumor:
Shares of Diamond Resort (NASDAQ: DRII) spiked higher Thursday, on a report from The Street that the company could be taken private for as much as $35 per share. A source said the going private transaction could happen following completion of a strategic review.

Diamond Resort closed at $22.72 on Thursday up 7%.

Samsonite to Acquire Tumi for $26.75/Share in Cash

The Deal:
Samsonite International S.A. (OTC: SMSEY) and Tumi Holdings, Inc. (NYSE: TUMI) confirmed Thursday, following earlier rumors, that Samsonite will acquire Tumi for $26.75 per share in cash for a total equity value of $1.8 billion. The deal is expected to close in H2 of 2016.

Tumi closed at $26.20 on Thursday, up 30%.

Posted-In: News Rumors M&A Movers


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