Benzinga's M&A Chatter for Tuesday September 18, 2012:
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday September 18, 2012:
Hearing Abercrombie & Fitch Has No Bidders
Abercrombie & Fitch (NYSE: ANF) is reportedly not getting bids from potential buyers, according to Deal Reporter. On September 12 it was reported that the company had hired Goldman Sachs as an adviser to help find a buyer.
An Abercrombie & Fitch was not available for comment.
Abercrombie & Fitch closed at $37.85 Tuesday, a loss of 1.66% on lower than average volume.
Illumina CEO Says Roche Bid Hindered Chances of Deal
Flately said Roche's offer was “woefully inadequate”. The Illumina board was forced to postpone discussions on a sale until after the Swiss pharma company's offer was made public.
Illumina closed at $47.90 Tuesday, a gain of 0.42% on lower than average volume.
W&T Offshore Buys Newfield Exploration's Gulf Properties for $228M
W&T Offshore (NYSE: WTI) announced Tuesday that it has entered into an agreement with Newfield Exploration Company (NYSE: NFX) and its subsidiary, Newfield Exploration Gulf Coast LLC to acquire all of Newfield's exploration and production properties in the Gulf of Mexico. The transaction includes 78 federal offshore lease blocks on approximately 432,700 gross acres.
There are 65 blocks in the deepwater, six of which are producing; 10 blocks on the conventional shelf, four of which are producing; and an overriding royalty interest in three deepwater blocks, two of which are producing. The purchase price is $228 million.
The transaction is estimated to close on or around October 1, 2012.
Newfield Exploration closed at $34.27 Tuesday, a loss of 1.78% on lower than average volume.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.