Market Overview

Benzinga's M&A Chatter for Thursday November 15, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday November 15, 2012:

Hearing Chatter Verizon in Takeover Talks with Akamai

The Rumor:
Verizon (NYSE: VZ) is rumored to be in takeover talks with Akamai Technologies (NASDAQ: AKAM), according to sources. Verizon's bid is rumored to be $46 per share.

On June 8, there was chatter that Google (NASDAQ: GOOG) had an interest in acquiring Akamai. In January, Verizon and AT&T (NYSE: T) were both rumored to be making offers of around $40 per share.

Spokespersons for both Akamai and Verizon declined comment on the rumor.

Akamai closed at $36.23 Thursday, a gain of 2.40% on twice average volume.

Report Dun & Bradstreet Decides Against Sale

The Rumor:
Reuters is reporting Dun & Bradstreet (NYSE: DNB) has decided against a sale of the company.

ON July 31, WSJ reported DNB had hired JPMorgan Chase and Credit Suisse to explore a possible sale of the company.

A DNB spokesperson declined comment on the rumor.

Dun & Bradstreet closed at $73.21 Thursday, a loss of 9.4% on 7 times average volume.

FTC Clears Hertz Acquisition of Dollar Thrifty for $87.50/Share

The Approval:
Hertz Global Holdings (NYSE: HTZ) announced Thursday that it has reached an agreement with the U.S. Federal Trade Commission (FTC) allowing Hertz to complete its acquisition of Dollar Thrifty Automotive Group (NYSE: DTG). Under the terms of the proposed consent order that was approved by the FTC for public comment, Hertz is required to divest its Advantage business, selected airport concessions and certain other assets following the closing of the acquisition.

Approval of the proposed consent order effectively completes the review of the transaction by the FTC. The closing of the previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty for $87.50 per share is also subject to customary terms and conditions, including the acquisition by Hertz of a majority of the outstanding shares of Dollar Thrifty common stock on a fully diluted basis. The tender offer is scheduled to expire at 5:00 p.m., New York City time, on November 16, 2012, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC).

Dollar Thrifty Automotive Group closed at $87.00 Thursday, a gain of $0.01 on higher average volume.

France Telecom Gets PE Interest in UK

The CEO Comments:
France Telecom (NYSE: FTE) has received interest from PE firms in the U.K. seeking a minority stake in its U.K. joint venture with Deutsche Telekom (OTC: DTEGY), according to comments made by the CEO in a Bloomberg interview.

France Telecom closed at $10.52 Thursday, a gain of 0.86% on almost twice average volume.

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

 

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