Wall Street's M&A Chatter From November 22

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 22, 2016.

Dr Pepper Snapple Group to Acquire Bai Brands for $1.7B

The Deal:

Dr Pepper Snapple Group Inc DPS announced an agreement to acquire Bai Brands, LLC for $1.7 billion in cash. The deal includes a tax benefit of approximately $400 million. The transaction is expected to close in Q1 of 2017.

Dr Pepper Snapple closed at $87.50 on Tuesday, up 2.64 percent.

Activist Investor Presses Del Frisco's for Sale

The Rumor:

Del Frisco's Restaurant Group Inc DFRG shares spiked higher following a report from Reuters that activist shareholder Engine Capital said the company needs to improve its business operations or find a buyer, according to sources. Engine Capital is a 1.25 percent shareholder and has the support of 0.84 percent shareholder Ancora Advisors, the sources said.

Spokespersons for the parties declined comment.

Del Frisco's closed at $16.60 on Tuesday, up 2.79 percent.

PepsiCo to Acquire KeVita for ~$250M

The Deal:

PepsiCo, Inc. PEP announced it has entered into a definitive agreement to acquire creator of fermented probiotic and kombucha beverage, KeVita. Terms of the deal were not disclosed, but Dow Jones reported the purchase price was approximately $250 million.

PepsiCo closed Tuesday at $102.89, up $0.63.