Benzinga's M&A Chatter for Tuesday October 2, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday October 2, 2012:
MetroPCS Confirms Merger Talks with Deutsche Telekom's T-Mobile
MetroPCS (NYSE: PCS) confirmed Tuesday they are in merger talks with Deutsche Telekom's (OTC: DTEGY) T-Mobile unit. That confirms earlier chatter. T-Mobile was mentioned as one of several potential buyers in a September 27 report from dealReporter.
MetroPCS closed at $13.57 Tuesday, a gain of 17.80% on 5 times average volume.
Hearing Roche is Preparing $60/Share Bid for Illumina
Roche (OTC: RHHBY) is preparing to bid $60 per share for Illumina (NASDAQ: ILMN), according to The Times. Roche offered $51 per share in April and said at the time a higher offer would not be in shareholders best interest.
Illumina closed at $51.00 Tuesday, a gain of 4.02% on 7 times average volume.
Alex Roepers Mentions Several Potential Takeover Targets
Alex Roepers of Atlantic Investment Management mentioned his takeover ideas at the Value Investing Congress on Tuesday. Roepers mentioned Joy Global (NYSE: JOY), with at $105 price target. Also mentioned were Rockwood Holdings (NYSE: ROC) and Energizer Holdings (NYSE: ENR).
Joy Global closed at $56.27 Tuesday, a gain of 0.27% on lower than average volume.
Rockwood Holdings closed at $47.37 Tuesday, a gain of 0.80% on average volume.
Energizer Holdings closed at $74.26 Tuesday, a gain of 0.47% on lower than average volume.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.