Market Overview

Benzinga'a M&A Chatter for Friday August 3, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday August 3, 2012:

Hearing Chatter of Roche Interest in Alexion

The Rumor:
Alexion Pharmaceuticals (NASDAQ: ALXN) was the subject of takeover chatter on Friday, with Roche (RHHBY) the rumored buyer for as much as $128 per share, according to sources.

Spokespersons for both Alexion and Roche declined comment on the Rumor.

Alexion Pharmaceuticals closed at $106.96 Friday, a gain of 4.56% on 1.5 times average volume.

Hearing Citizens Republic Bancorp Is Looking for a Buyer, Hires JP Morgan to Helo

The Rumor:
Citizens Republic Bancorp (NASDAQ: CRBC) has hired JP Morgan as an adviser to solicit bids from potenital buyers, according to Bloomberg. Huntington Bancshares (NASDAQ: HBAN) is rumored to be one of the potential bidders.

Citizens Republic Bancorp closed at $19.24 Friday, a gain of 9.07% on almost 4 times average volume.

Hearing Chatter EOG Resources May Bid for Ultra Petroleum

The Rumor:
EOG Resources (NYSE: EOG) may be interested in acquiring Ultra Petroleum (NYSE: UPL), according to sources. The rumor followed EOG's solid earnings report on Thursday.

Spokespersons for the two companies were not available for comment.

Ultra Petroleum closed at $21.01 Friday, a loss of 2.14% on 1.5 times average volume.

Hearing Chatter TPG, KKR Could Buy Knight capital

The Rumor:
Rumors were rampant surrounding Knight Trading Group (NYSE: KCG) Friday, following Wednesday's trading glitch disaster, which threatened the survival of the company. Rumors of bankruptcy, a breakup of the company and an outright sale, left traders unsure of Knight's future. The company reported a pre-tax loss of $440 million from the event.

Knight receive a line of credit to keep it operating for the day on Friday, according to the Wall Street Journal.

Friday's chatter showed interest from KKR (NYSE: KKR), TPG and Silver Lake Partners in saving Knight, in pieces or as a whole. Spokespersons from KKR and TPG declined comment. Another rumored buyer, Citadel, who was mentioned on Thursday, also declined to comment on rumored discussions with Knight.

Knight Trading Group closed at $4.05 Friday, a gain of 57% on 17 times average volume.

Hearing Takeover Chatter in Interpublic Group

The Rumor:
Publicis of France is considering bidding for Interpublic Group (NYSE: IPG), according to Financial Times. The bid is rumored to be in the area of $15.00 per share.

IPG issued the following statement regarding the article: “We are aware of the activity in our stock today. It is our policy not to comment on market rumors or speculation.”

Interpublic Group closed at $10.97 Friday, a gain of 13.33% on 5.5 times average volume.

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

 

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