Benzinga's M&A Chatter for Friday March 16, 2012


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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday March 16, 2012:Sanofi to Acquire PluromedThe Deal:
Sanofi (NYSE: SNY) and Pluromed announced Friday that they have entered into a definitive agreement under which Sanofi is to acquire Pluromed, a medical device company based in Woburn, Massachusetts. The acquisition is subject to customary closing conditions.This acquisition reflects Sanofi's commitment to bring innovative solutions designed to ease surgical procedures and improve patient outcomes.Sanofi closed at $39.90 Friday, a gain of 0.18% on less than half the average daily volume.Bell to Acquire AstralThe Deal:
BCE (NYSE: BCE) announced Friday that it has signed a definitive agreement to acquire all of the issued and outstanding shares of Montréal-based Astral Media and its leading specialty and pay television channels, radio stations, digital media properties and out-of-home advertising platforms in Québec and across the rest of Canada. Greatly strengthening Bell's competitive position in the important Québec media marketplace, this transaction directly supports Bell's strategy of investment and innovation in broadband networks and content.Bell will acquire all Class A Non-Voting Shares of Astral for $50 per share, representing a premium of 39% based on Astral's volume-weighted average closing share price on the TSX for the last five trading days, for a total consideration of approximately $2.8 billion. Bell will also acquire all Class B Subordinate Voting Shares for $54.83 per share, for a total consideration of approximately $151 million, and all Special Shares for a total consideration of $50 million.Astral shareholders will vote on the transaction by May 25.BCE closed at $40.06 Friday, a loss of 0.79% on slightly more than the average daily volume.Hearing Renewed Chatter of AT&T Buyout of Leap WirelessThe Rumor:
AT&T (NYSE: T) to acquire Leap Wireless (NASDAQ: LEAP) for $15 per share, according to sources. The same rumor surfaced on January 3.A spokesperson for Leap Wireless would not comment on the report. An AT&T spokesperson could not be reached for comment.Leap Wireless closed at $10.10 Friday, a gain of 3.70% on slightly more than average volume.Hearing Renewed Takeover Chatter in Nabors IndustriesThe Rumor:
Nabors Industries (NYSE: NBR) has hired advisers to explore strategic options, according to sources. The price being mentioned is $30 per share. Baker Hughes (NYSE: BHI) was rumored to be offering $39.50 per share in December.A Nabors Industries spokesperson would not comment on the rumor. Nabors Industries closed at $20.82 Friday, a gain of 1.71% on 1.4 times the average volume.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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