Market Overview

Benzinga's M&A Chatter for Thursday January 12, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday January 12, 2012:

Crown Castle Agrees to Acquire Ground Lease Related Assets

The Deal:
Crown Castle International (NYSE: CCI) announced Thursday that it has entered into a definitive agreement to acquire from Wireless Capital Partners a portfolio of ground lease related assets for approximately $180 million in cash and the assumption of approximately $320 million of debt. The portfolio includes approximately 2,300 ground lease related assets, including over 150 related to Crown Castle towers. The assets being acquired generate annual cash flow of approximately $42 million, with 80% generated from the big four carriers. The acquisition is expected to close in the first quarter of 2012.

Crown Castle shares traded in a range of $45.53 to $46.47 Thursday, on 87% of the average daily volume. Crown Castle closed at $46.25, about flat for the day.

US Airways Evaluating Possible Bid for AMR

The Rumor:
US Airways (NYSE: LCC) is assessing a possible bid for AMR (AAMRQ) and has hired financial advisors to assist in the process, according to the WSJ.

AMR had filed for bankruptcy in November.

Shares of AMR traded Thursday in a range of $0.35 to $0.44 on two-thirds the average daily volume. AMR closed at $0.40, a gain of 12% for the day.

Chevron to Acquire Cheniere Energy

The Rumor:
Chevron (NYSE: CVX) to acquire Cheniere Energy (NYSE: LNG) for $16 per share or more, a 70% premium over Thursday's closing share price.

A Chevron spokesperson told Benzinga the company does not comment on market rumor. A Cheniere spokesperson could not be reached for comment. Cheniere last had takeover rumors on November 14, 2011.

Cheniere Energy shares traded Thursday in a range of $9.01 to $9.70, on 1.75 times the average daily volume. Cheniere closed at $9.46, a gain of 4.3% for the day.

Nestle to Acquire Green Mountain Coffee Roasters

The Rumor:
Nestle (NSRGF) to acquire Green Mountain Coffee Roasters (NASDAQ: GMCR) for $60 per share or more, according to sources.

Chatter on Green Mountain is a weekly occurrence. Most likely this rumor is just one of many. A company spokesperson was not available for comment.

Green Mountain Coffee Roasters shares traded Thursday in a range of $46.53 to $48.78 on half the average daily volume. Green Mountain closed at $47.24, a loss of less than 1% for the day.

Research in Motion Hires Goldman Sachs to Explore Strategic Alternatives

The Rumor:
Research in Motion (NASDAQ: RIMM) has hired Goldman Sachs to explore strategic alternatives. The Canadian maker of the Blackberry has gone through tough times, watching it's share price fall from about $70 in February 2011 to $16 currently.

The company is a frequent takeover name, with Microsoft mentioned as a possible buyer. CNBC's Jon Najarian has selected a Research in Motion takeover as one of his top five predictions for 2012. A spokesperson for Research in Motion could not be reached.

Research in Motion shares traded in a range of $15.50 to $16.57 Thursday, on about 1.5 times the average daily volume. RIMM closed at $16.44, a gain of 5.3% for the day.

Private Equity Interest Waning for Brocade Deal

The Rumor:
Private equity interest is at a minimum for Brocade Communications (NASDAQ: BRCD), according to dealReporter. On January 9, several private equity names were mentioned as possible buyers, including Silver Lake and Blackstone.

On Wednesday, Oracle was mentioned as possible buyer for as much as $8.50 per share.

Brocade shares traded Thursday in a range of $5.82 to $5.98 on 1.5 times the average daily volume. Brocade closed at $5.93, a gain of 0.68% for the day.

Chicos FAS Receiving Bids from Private Equity Firms

The Rumor:
Chicos FAS (NYSE: CHS) is receiving bids from private equity firms, according to dealReporter.

This rumor last surfaced on December 23, 2011.

Chicos FAS traded Thursday in a range of $10.54 to $11.04 on 1.3 times the average daily volume. Chicos closed at $11.01, a gain of 2.42% for the day.

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

 

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