Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday July 22 to Sunday July 24, 2016:

 

Verizon Said to Announce $5B Agreement to Acquire Yahoo on Monday

The Rumor:
Verizon Communications Inc VZ will announce an agreement to acquire Yahoo Inc YHOO for about $5 billion, according to a source as reported by Reuters on Sunday. The source said the announcement will come prior to the start of trading in New York. Verizon has been considered to be the front-runner in the talks to acquire Yahoo. Both Verizon and Yahoo declined comment on the report.

Yahoo closed at $39.38 on Friday, up 1.36%.

 

Tesla, Solar City Said Near Agreement on Merger

The Rumor:
Tesla Motors Inc TSLA and SolarCity Corp SCTY are said to be closed to a merger, according to sources as reported Reuters on Saturday. The sources said the two companies founded by Elon Musk, are in the final stages of due diligence and a deal could be finalized inthe coming days. Tesla announced on June 21, it had bid $2.8 billion for Solar City.

Solar City closed at $26.45 on Friday, up $0.05.

 

Syngenta Says having Constructive Talks With Regulators Over ChemChina Bid

The Rumor:
Syngenta AG SYT said on Friday, it was having constructive discussions with regulatory authorities regarding its acquisition by ChemChina. Syngenta's CEO Erik Fyrwald, said the company was focused on getting the deal done. ChemChina offered to acquire Syngenta for more than $43 million on February 3.

Syngenta closed Friday at $79.59, up 1.29%.

Posted In: NewsRumorsM&AMovers
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