Benzinga's M&A Chatter for Tuesday June 21, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 21, 2016:

:

Tesla

announced Tuesday, an offer to acquire all the outstanding shares of SolarCity

common stock for $26.50 to $28.50 per share. Tesla is proposing an exchange ratio of 0.122x to 0.131x shares of Tesla common stock for each share of SolarCity common stock. Tesla's Board of Directors made the offer in a letter to SolarCity CEO Lyndon Rive. Solar City closed Tuesday at $21.19 and traded as high as $27.23 after hours. There was activity in the October $30 call just ahead of the close. Tesla shares fell below $190 after closing at $219.61.

:

American Science and Engineering, Inc.

announced Tuesday that it has agreed to be acquired by OSI Systems, Inc.

for $37.00 per share in cash transaction, for a total transaction value of approximately $269 million. The transaction is expected to close by the end of 2016. ASEI closed Tuesday at $36.88 up 14.04%.

:

Impax Laboratories, Inc.

announced Tuesday, that it has signed agreements with Teva Pharmaceutical Industries Ltd.

and affiliates of Allergan plc

to acquire a broad portfolio of generic products including solid oral, inhalable, injectable and topical dosage forms and the return to Impax of its rights to its pending ANDA for the generic equivalent to Concerta for $586 million. Closing is expected to occur coincidently with the closing of the Teva-Allergan Generics transaction. Impax closed at $28.31 on Tuesday, down 11.45%.

:

Royal Philips

today announced Tuesday, that it has acquired PathXL. Financial details of the transaction were not disclosed. PathXL is a Northern Ireland-based leader in digital pathology image analysis, workflow software and educational tools. Philips closed at $26.15 on Tuesday up 1.75%.