Wall Street's M&A Chatter From March 29: Cabela's, WebMD, MaxLinear-Exar

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday March 29, 2017:

WebMD Begins Sale Process

The Rumor:

WebMD WBMD has begun its sales process, according to sources as reported by Dealreporter. WebMD announced February 16 it was exploring strategic alternatives and hired JPMorgan as an advisor.

WebMD closed at $53.79, up $3.56.

Exar to be Acquired by MaxLinear for $13/Share Cash

The Deal:

MaxLinear, Inc. MXL and Exar Corporation EXAR have entered into a definitive agreement under which MaxLinear has agreed to acquire Exar for $13.00 per share in cash, for a total value of approximately $700 million, or $472 million net of Exar's cash acquired. The acquisition will be conducted by means of a tender offer and is expected to close in Q2 of 2017.

Exar closed at $12.99, up $2.37.

Under Armour Chatter of PE Interest

The Rumor:

Private equity is in talks to take Under Armour UAA private at $26.00 per share, according to unconfirmed market chatter. Management is said to be considering the offer and could make a decision by the weekend.

Nike NKE has been mentioned often as a potential buyer for Under Armour.

Under Armour closed at $20.66, up $0.71.

Synovus Financial in Talks to Acquire Cabela's Banking Unit

The Rumor:

Cabela's CAB is said to be in talks to sell its financial business to Synovus Financial Corp. SNV, according to sources as reported by the Wall Street Journal. Under the proposed plan, Synovus would resell the credit-card portfolio to Capital One COF and retain approximately $1 billion in deposits held in Cabela's bank, in order to avoid a regulatory review for Capital One, the sources said.

Bass Pro Shops and Cabela's announced on October 3 that Bass would acquire Cabela's for $65.50 per share in cash. Capital One was to acquire the banking operation, but investigations into its anti-money-laundering controls put the whole deal in jeopardy and sent Cabela's shares into the mid-$40s.

The talks are said to be ongoing.

Cabela's closed at $52.04, up $5.79.