Wall Street's M&A Chatter From March 22: GoDaddy, BASF-FMC, AkzoNobel

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, March 22, 2017.

GoDaddy Acquires Sucuri, No Terms Disclosed

The Deal:

GoDaddy Inc GDDY announced it has entered into an agreement to purchase Sucuri, a leading provider of website security products and services. Financial details of the acquisition were not disclosed.

GoDaddy closed at $36.68, up $0.15.

BASF Considered Buying FMC in 2016

The Rumor:

BASF BASFY considered acquiring pesticide rival FMC Corp FMC last year, according to sources as reported by Reuters. BASF ultimately decided against the move, due to several billion in assets for sale by rivals to satisfy antitrust issues.

FMC declined comment, while a BASF spokesperson said the group was constantly looking into potential takeover and divestment deals. There was unusual activity on Wednesday in FMC's April 60 call.

FMC closed at $61.22, up $1.62.

AkzoNobel Investors See Sense in PPG Deal

The Investor Comments:

Investors Elliott and Columbia Threadneedle both said AkzoNobel should engage in talks with PPG PPG, regarding a potential deal. PPG submitted a revised offer to Akzo on Wednesday of €90.00 per share, consisting of €57.50 Cash And 0.331 Share of PPG common stock. That was announced after AkzoNobel rejected an offer of €88.72 in cash and stock.

Elliott stated Akzo Nobel should "engage with PPG immediately to determine whether PPG is prepared to bid at a level that provides adequate consideration to Akzo Nobel shareholders and whether PPG can adequately address all relevant stakeholder considerations."

Columbia Threadneedle said, "We see strong logic in a combination of Akzo Nobel and PPG and the potential benefits this offers all stakeholders. Akzo needs to recognise this and engage."

PPG closed at $104.25, down $0.23.