Wall Street's M&A Chatter From December 30-January 2

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, December 30, 2016 through Monday, January 2, 2017.

KKR, Daichi Sankyo Expected to Bid for Depomed

The Rumor:

KKR & Co. L.P. KKR is said to still be interested in acquiring Depomed Inc DEPO and would combine it with Arbor Pharmaceuticals, according to sources as reported by the New York Post on Friday. Depomed has set Wednesday as the deadline for final bids, the sources said.
Mizuho Securities stated in a note in November that Depomed would be sold for $25 per share.

Depomed closed Friday at $18.02, up 2.44 percent.

Abbott Acquisition of St. Jude Medical Set to Close on January 4, 2017

The Closing:

Abbott Laboratories ABT announced Friday it intends to close the acquisition of St. Jude Medical, Inc. STJ, on Wednesday, January 4. The announcement follows receipt of all regulatory clearances necessary for closing.

Abbott Laboratories agreed to buy St. Jude Medical in April for $25 billion or about $85 per share in cash and stock.

St. Jude Medical closed Friday at $80.19, up $0.36.

Cabela's, Bass Pro Group Receive Request for Additional Information, Documentary Material from FTC in Connection With Merger

The Regulator Request:

Cabelas Inc CAB and Bass Pro Group announced that on December 29, 2016 the companies received a request for additional information and documentary material, from the FTC in connection with their proposed merger. Cabela's said it continues to expect clearance for the deal in H1 of 2017, but Capital One Financial COF, which is buying Cabela's credit card business, said it does not expect that deal to be approved by the Office of the Comptroller of the Currency before October.

Bass Pro Shops reached a deal to acquire Cabela's and take the company private in a deal valued at $4.5 billion in October.

Cabela's closed at $58.55 on Friday, down 5.07 percent.