Benzinga's M&A Chatter for Monday August 22, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday August 22, 2016:

Pfizer to Acquire Medivation for $81.50/Share in Cash

The Deal:
Pfizer Inc. PFE and Medivation, Inc. MDVN confirmed Monday that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation for $81.50 a share in cash for a total enterprise value of approximately $14 billion. Pfizer will commence a cash tender offer to purchase all of the outstanding shares of Medivation common stock for $81.50 per share. Pfizer expects the deal to be completed in Q3 or Q4 of 2016.

Medivation closed Monday at $80.42, up $19.74%.

Sky-mobi Limited Enters into Definitive Agreement for Going Private Transaction @$2.20/ADS

The Going Private Transaction:
Sky-mobi Limited MOBI announced Monday that it has entered into an Agreement and Plan of Merger with Amber Shining Investment Limited and Power Rich Limited. Under the agreement, each of Sky-mobi's common shares and ADS's will be cancelled and cease to exist in exchange for the right to receive $0.275 per Share or $2.20 per ADS.

Sky-mobi closed at $2.03 on Monday, up 6.84%.

CST Brands to be Acquired Alimentation Couche-Tard for $4.4B

The Deal:
Alimentation Couche-Tard Inc. announced Monday, a definitive merger agreement with CST Brands, Inc. CST under which Couche-Tard would acquire CST $48.53 per share in cash, for a total enterprise value of approximately US $4.4 billion. The transaction is expected to close in early 2017.

CST closed at $47.45 on Monday, down $0.06.

Microsoft to Acquire Genee

The Deal:
Microsoft MSFT has signed an agreement to acquire artificial-intelligence-powered scheduling service, Genee. Financial terms were not disclosed.

Microsoft closed at $57.67 on Monday, up $0.05.