Market Overview

Benzinga's M&A Chatter for Thursday March 14, 2013

Benzinga's M&A Chatter for Thursday March 14, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday March 14, 2013:

Report Life Technologies Launching Full Auction

The Rumor:
Shares of Life Technologies (NASDAQ: LIFE) spiked higher in late trading Thursday, on a Deal Reporter story that LIFE was launching full auction, according to sources. A February 2 report mentioned Thermo Fisher (NYSE: TMO), GE (NYSE: GE) and Danaher (NYSE: DHR), as potential buyers.

Life Technologies announced on January 18, it had retained Deutsche Bank and Moelis & Company to assist in its annual strategic review. Macquarie said on Janaury 30, they thought Thermo Fisher would buy LIFE for $80 per share.

A spokesperson for Life Technologies declined comment on today's report.

Life Technologies closed at $63.54 Thursday, a gain of 2% on average volume.

Report Smithfield Foods has No Breakup Plan

The Rumor:
Smith‪field Foods (NYSE: SFD) confirmed on March 8, that its Board of Directors received a memorandum from shareholder Continental Grain indicating that the company should consider splitting into three separate companies: hog production, fresh pork and packaged meats, and international.

Smithfield said that its board, in consultation with its financial and legal advisers, would review the proposal in due course.

A report Thursday from Deal Reporter, said Smithfield did not yet have a plan to break-up the company. A Smithfield spokesperson declined comment beyond the March 8 press release.

Smithfield Foods closed at $26.23 Thursday, a loss of $0.12 on 1.5 times average volume.

Hearing Renewed Interest in BMC Software

The Rumor:
BMC Software (NASDAQ: BMC) has reportedly attracted interest from lenders for a potential LBO, according to Deal Reporter. Last week Bloomberg reported that KKR (NYSE: KKR) and TPG were possibly interested in a deal. Shareholder Elliott Management has been pressuring BMC to make a deal.

A spokesperson for BMC Software was not available for comment.

BMC Software closed at $44.29 Thursday, a gain of 1.5% on higher than average volume.

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