Benzinga's M&A Chatter for Thursday February 2, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday February 2, 2012:
Walgreens to Acquire BioScrip's Community Specialty Pharmacies and Centralized Specialty and Mail Service Pharmacy Businesses
Walgreen (NYSE: WAG) and BioScrip (NASDAQ: BIOS) announced Thursday that they have entered into a definitive agreement under which Walgreens would acquire certain assets of BioScrip's community specialty pharmacies and centralized specialty and mail service pharmacy businesses and BioScrip would receive a total deal value of approximately $225 million. This includes approximately $170 million in cash at closing and retention by BioScrip of associated accounts receivable and working capital liabilities of approximately $55 million, based on BioScrip's balance sheet values at Dec. 31, 2011. Up to an additional $60 million in purchase price may be payable based on events related directly or indirectly to Walgreens retention of certain business included in the transferred businesses.
BioScrip closed at $6.72 Thursday, a gain of 15.07% for the day on 6.2 times the average daily volume.
Walgreen closed at $33.53 Thursday, a gain of 0.93% for the day on 1.15 times the average daily volume.
Vodaphone to Acquire Research in Motion
A spokesperson for Vodaphone told Benzinga there is no truth to the rumor, while a spokesperson for Research in Motion would not comment. Back on October 25, 2011 a similar rumor surfaced involving these companies.
Research in Motion shares closed at $17.21 Thursday, a gain of 3.05%% for the day on 83% of the average daily volume.
ConocoPhillips to Acquire Southwestern Energy
Benzinga placed calls to spokespersons for both ConocoPhillips and Southwestern Energy, but neither was available for comment.
Southwestern Energy closed at $30.98 Thursday, a gain of 1.87% for the day on slightly more than the average daily volume.
Vertex Pharmaceuticals to Acquire Achillion Pharmaceuticals
Vertex Pharmaceuticals (NASDAQ: VRTX) to acquire Achillion Pharmaceuticals (NASDAQ: ACHN) for $19.75, according to sources. On January 25, it was reported that Achillion had retained Merrill Lynch to solicit bids from potential buyers, including Johnson & Johnson (NYSE: JNJ) and Vertex.
A spokesperson for Achillion Pharmaceuticals would not comment on the rumor, while one from Vertex could not be reached for comment.
Achillion Pharmaceuticals closed at $12.38 Thursday, a gain of 11.59% for the day on twice the average volume.
Hearing Takeover Chatter in Providence Service Corp
Providence Service Corp (NASDAQ: PRSC) is rumored to be a takeover target, according to sources.
A spokesperson for Providence said the company has received bids, but all were inadequate.
Providence Service Corp announced Thursday that Fletcher McCusker, Chairman and Chief Executive Officer, is scheduled to present an overview of the Company's operations at the UBS 22nd Annual Global Healthcare Services Conference at the Grand Hyatt New York on Tuesday, February 7th.
Providence Service Corp closed at $15.05 Thursday, a loss of 0.33% for the day on 7 times the average volume.
Hearing Takeover Chatter in Encore Bancshares
Encore Bancshares (NASDAQ: EBTX) is rumored to be a takeover target, according to sources.
A spokesperson for Encore, a low-floater, could not be reached for comment.
Encore Bancshares closed at $14.59 Thursday, a gain of 5.95% for the day on slightly more than 12,000 shares.
Barclays to Acquire Toronto Dominion Bank, PNC Financial Services Group or Royal Bank of Canada
Barclays (NYSE: BCS) to Acquire Toronto Dominion Bank (NYSE: TD), PNC Financial Services Group (NYSE: PNC) or Royal "Bank of Canada (NYSE: RY), according to sources speaking to Fox Business News.
Barclays shares closed at $14.42 Thursday, a gain of 1.26% for the day on 61% of the average daily volume.
Hearing Takeover Chatter in Mosaic
Mosaic (NYSE: MOS) is rumored to be a takeover target, according to sources.
Mosaic is a frequent takeover name, with companies such as BHP Billiton (NYSE: BHP) and Cargill among a list of rumored buyers. A Mosaic spokesperson was not available for comment.
Mosaic closed at $57.11 Thursday, a gain of 0.23% for the day on 83% of the average daily volume.
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