Market Overview

Benzinga's M&A Chatter for Friday November 23, 2012

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday November 23, 2012:

Indian Hotels May Raise Bid for Orient-Express Hotels

The Rumor:
Indian Hotels may increase their bid for Orient-Express Hotels (NYSE: OEH), according a report by the Wall Street Journal on Friday.

Indian Hotels had offered $12.63 per share for Orient-Express Hotels on October 18. The offer was rejected by the OEH Board on November 8, the same day they announced John Scott III as the company's new CEO.

There have been several subsequent rumors regarding a higher bid.

Orient-Express Hotels closed at $11.87 Friday, a gain of 1.28% on lower than average volume.

Hearing Renewed Takeover Chatter in Illumina

The Rumor:
Illumina (NASDAQ: ILMN) shares rose almost 2.5% on Friday on renewed takeover chatter.

Roche (OTC: RHHBY) has previously submitted bids for Illumina of $44.50 and $51 per share, both rejected by Illumina's Board. Rumors of a $60 per share bid have surfaced, but never materialized.

Illumina closed at $52.93 Friday on average volume.

Posted-In: Long Ideas News Short Ideas Rumors M&A Global Movers Trading Ideas

 

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