Benzinga's M&A Chatter for Monday May 16, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday May 16, 2016:

:

Pfizer Inc.

and Anacor Pharmaceuticals, Inc.

announced Monday, that they have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per share, by means of a tender offer. The total transaction value, net of cash, is approximately $5.2 billion. JMP Securities reported in a note Monday, that Novartis

could bid as much as $130 per share if the launch a competing offer. Anacor shares rose 57% Monday to close at $100.67.

:

Mylan N.V.

announced Monday. an agreement to acquire the non-sterile, topicals-focused specialty and generics business of Renaissance Acquisition Holdings for $950 million in cash. There are also additional contingent payments of up to $50 million. The deal is expected to close in Q3 of 2016. Mylan closed at $40.45 on Monday, up 3.29%.

:

Terex Corporation

announced Tuesday, that it has agreed with Konecranes Plc

to mutually terminate the August 10, 2015 Business Combination Agreement without payment of a fee by either party. In connection with the termination Terex has agreed to sell its Material Handling and Port Solutions business to Konecranes for approximately $1.3 billion, consisting of $820 million in cash and 19.6 million newly issued shares of Konecranes. The transaction is expected to close in January 2017. Under the agreement, Terex can continue to pursue discussions with Zoomlion Heavy Industries Science & Technology Co., Ltd.

. Terex closed at $24.94 on Monday, up 9.96%.