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Benzinga's M&A Chatter for Tuesday May 31, 2016

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday May 31, 2016:

Marketo to be Acquired by Vista Equity Partners $35.25/Share

The Deal:
Marketo, Inc. (NASDAQ: MKTO) announced Tuesday, that it has entered into a definitive agreement to be acquired by Vista Equity Partners for $35.25 in cash per share, or approximately $1.79 billion. The transaction is expected to close in Q3 of 2016.

JMP said later that Microsoft (NASDAQ: MSFT), SAP (NYSE: SAP) and Adobe (NASDAQ: ADBE) may also submit bids for Marketo.

Marketo rose 9.41% Tuesday to close at $35.23.

Platinum Equity to Acquire Electro Rent for $13.12/Share in Cash

The Deal:
Platinum Equity and Electro Rent Corporation (NASDAQ: ELRC) announced Tuesday, that they have entered into a definitive agreement, under which Electro Rent will be acquired by Platinum Equity for $13.12 per share in cash, or approximately $323.4 million. The transaction is expected to close in the next 90 to 120 days.

Electro Rent closed at $13.10 on Tuesday, up 24.17%.

Accel-KKR to Acquire SciQuest for $17.75/Share in Cash

The Deal:
SciQuest, Inc. (NASDAQ: SQI) announced Tuesday, that it has entered into a definitive agreement to be acquired by affiliates of Accel-KKR for $17.75 per share in cash, for a total equity value of approximately $509 million. The transaction is expected to close in Q3 of 2016.

SciQuest closed at $17.64 on Tuesday, up 33%.

Thoma Bravo Said to Offer $28-$30/Share for Qlik Technologies

The Rumor:
Private equity firm Thoma Bravo is preparing to submit a binding bid for Qlik Technologies Inc (NASDAQ: QLIK) as early as Tuesday, according to sources as reported by Reuters. The bid is said to be between $28 and $30 per share in a deal that will value Qlik at as much as $2.8 billion.

Qlik Technologies closed at $28.70 on Tuesday, down 10%.

Posted-In: News Rumors M&A Movers

 

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