Market Overview

Benzinga's M&A Chatter for Friday January 6, 2012


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday January 6, 2012:

Goldman Sachs, KKR to Acquire Macy's

The Rumor:
Goldman Sachs (NYSE: GS) and KKR (NYSE: KKR) to acquire Macy's (NYSE: M) for $42 per share.

A spokesperson for Macy's had no comment on the rumor.

Macy's shares traded in a range of $33.63 to $34.80, a new 52-week high on Friday, on 1.28 times the average daily volume. Macy's closed at $34.57, a gain of 1.90% for the day.

Glaxo SmithKline to Acquire Human Genome Sciences

The Rumor:
Glaxo SmithKline (NYSE: GSK) to acquire Human Genome Sciences (NASDAQ: HGSI) for $14 per share.

Takeover chatter in Human Genome last appeared on October 28, 2011. A Human Genome company spokesperson had no comment. Glaxo was rumored as a buyer of Celgene on Thursday.

Human Genome shares traded in a range Friday of $7.32 to $7.96 on 1.3 times the average daily volume. Human Genome closed at $7.72, a gain of 2.93% for the day.

Private Equity Firm to Acquire Bob Evans Farms

The Rumor:
One or more private equity firms are seeking to acquire Bob Evans Farms (NASDAQ: BOBE). No price was mentioned.

A spokesperson for Bob Evans could not be reached.

Bob Evans shares traded in a range of $33.92 to $35.79 on twice the average daily volume and closed at $34.62, a gain of 1.58% for the day.

Cree Seeking Buyer

The Rumor:
Cree (NASDAQ: CREE) seeking a buyer for a minimum of $40 per share. Cree is said to be working with Goldman Sachs to handle possible bids.

Cree is a frequent takeover name. Just as frequently, the company refuses to comment on the rumors.

Shares of Cree traded Friday in a range of $22.16 to $22.90 on 75% of the average daily volume. Cree closed at $22.45, a gain of 0.40% for the day.

Total to Acquire Range Resources

The Rumor:
Total (NYSE: TOT) to acquire Range Resources (NYSE: RRC) for $15 billion.

Range Resources has frequently been linked to Royal Dutch Shell in the $95 range, which is where the Total deal would be. A Range Resources spokesperson would not comment on the rumor.

Range Resources traded Friday in a range of $60.59 to $61.97, on 68% of the average daily volume. Range Resources closed at $60.74, a loss of 1.06% for the day.

Posted-In: Long Ideas News Short Ideas Rumors M&A Global After-Hours Center Movers


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