Benzinga's M&A Chatter for Tuesday August 2, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 2, 2016:

:

Shares of Biogen

spiked sharply higher on Tuesday, as the

reported takeover interest from Allergan

and Merck

, according to sources. The talks are informal and preliminary, the sources said. RBC said Biogen could be worth $375 to $475 per share in a takeover. CNBC's Meg Tirell later twweted that Allegan was unlikely to pursue a Biogen deal, accoding to a source. Biogen closed at $330.11 on Tuesday, up 9.37%.

:

Cheetah Mobile

announced Tuesday, it will acquire News Republic for $57 million. Based in Bordeaux, France, News Republic publishes news apps. Cheetah Mobile closed at $10.58 on Tuesday, up 4.75%.

:

Enbridge

is said to have won the auction to acquire a stake in EnBW's Hohe See offshore wind power projects, according to a source as reported by

on Tuesday. Enbridge and Australia's Macquarie were competing for up to a 49.9% stake, the sources said. The project is expected to cost as much as $2.24 billion and produce power for 560,000 homes. Enbridge closed Tuesday at $40.41, up 1%.