Wall Street's M&A Chatter From April 26: Castle Brands, Michael Kors, Sajan-Amplexor

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, April 26, 2017.

Castle Said to Weigh Sale Amid Takeover Interest

The Rumor:

Castle Brands Inc. is exploring a sale, according to sources as reported by Bloomberg. Potential buyers include Constellation Brands Inc. STZ and Diageo DEO, the sources said.

Castle Brands is said to be working with advisers at Perella Weinberg Partners.

Representatives for Perella Weinberg, Constellation and Diageo declined comment on the rumor, while Castle Brands had not yet responded.

Castle Brands closed at $1.62, up $0.02.

Coach May Consider Michael Kors Takeover

The Rumor:

Shares of Michael Kors KORS spiked to a high of $38.46 Wednesday, following circulation of unconfirmed market chatter that Coach COH could bid for the women's and men's apparel design and marketing company. Talks between Coach and Kate Spade KATE are said to have stalled and Coach is ready to entertain a new merger partner.

Analysts now see a Kate Spade deal in the $18.00 to $21.00 range, not enough to get a deal done.

Michael Kors closed at $38.05, up $0.58.

Sajan to be Acquired by AMPLEXOR at $5.83/Share in Cash

The Deal:

Sajan Inc. SAJA and AMPLEXOR International SA announced a definitive merger agreement under which Sajan will be acquired by a wholly-owned subsidiary of AMPLEXOR International for $5.83 per share in cash. The merger is expected to close following a special meeting of Sajan's shareholders to vote on the transaction in July 2017.

Sajan closed at $5.70, up $1.71.