Benzinga's M&A Chatter for Wednesday June 8, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday June 8, 2016:

PPG to Acquire MetoKote for Undisclosed TermsThe Deal

PPG

announced Wednesday, that it has reached a definitive agreement to acquire U.S.-based coatings services business, MetoKote Corporation. The transaction is expected to close in Q3 of 2016. Financial terms were not disclosed. PPG rose 3% Wednesday, to close at $110.95.

AmSurg, Envision Healthcare in Talks to MergeThe Rumor

Envision Healthcare Holdings Inc.

EVHC

is said to be in discussions with AmSurg Corp.

AMSG

, regarding a potential merger, according to sources as reported by

Dow Jones

on Wednesday. A deal could be announced as early as next week, the sources said. AmSurg failed last year in an attempt to acquire Team Health

TMH

in a cash and stock deal. AmSurg withdrew its bid after a rejection from Team Health. AmSurg closed at $77.91 on Wednesday, up 2%. Envision Healthcare closed at $25.66, up $0.12.

Maglan Capital Says Merger with Communications Sales & Leasing is Most Logical Combination for FairpointThe Filing

Maglan Capital, in a letter to the Fairpoint Communications

FRP

Board on Wednesday, said a merger with Communications Sales & Leasing is the most logical combination. The letter was attached to a 13D filing, in which Maglan reported a 7.6% stake. In a previous letter on June 6, Maglan suggested a sale of the company as one possible outcome of a value-creating initiative. Maglan said it had "serious concerns with the company's inability to translate its recent operational improvements into shareholder value creation." Fairpoint Communications closed at $14.27 on Wednesday, up 3.63%.

Weisman Group Offers to Acquire Ashford Hospitality Prime for $20.25/ShareThe Offer

The Weisman Group, in a letter to Ashford Hospitality Prime, Inc.

AHP

CEO Monty J. Bennett on Wednesday, offered to acquire 100% of AHP assets for approximately $1.48 billion or $20.25 per share of common stock and about $25.00 per share of Series B Preferred stock. Ashford confirmed receipt of the unsolicited proposal from Weisman and said the company's Board of Directors, in consultation with its independent financial and legal advisors, will carefully review and evaluate the proposal. Ashford Hospitality Prime closed at $14.71 on Wednesday, up 30%.

Market News and Data brought to you by Benzinga APIs