Benzinga's Weekend M&A Chatter


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday December 26 through Sunday December 28, 2014New York Stock Exchange May be Put Up for Sale

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The Rumor:
The New York Stock Exchange may be put up for sale as early as next year, by its owner, Intercontinental Exchange, Inc. (NYSE: ICE), according to the New York Post. Sources say ICE will with sell or spinoff the "Big Board" within a year.Attempts to make the NYSE more profitable, with updated technology are a prelude to a sale, according to the sources.A spokesperson for Intercontinental Exchange was not immediately available for comment.Intercontinental Exchange closed Friday at $221.88, up $0.15.Egypt's Financial Regulator Extends Bidding Period for Bisco Misr Until January 11, 2015The Bidding War

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Egypt's financial regulator has extended the bidding deadline for Egypt snack manufacturer, Bisco Misr, until January 11, 2015, reports Reuters. Kellogg Company (NYSE: K), has been engaged in a takeover battle for Bisco Misr with UAE-based PE firm Abraaj Asset Management.Kellogg is currently the high bidder, having offered 89.86 Egyptian pounds per share.Kellogg shares closed Friday at $67.01, down a penny.Lion Capital Urges American Capital to Consider Sale, Other OptionsThe Hedge Fund Letter:
Hedge fund Lion Capital has reportedly sent a letter to American Apparel, Inc.'s (NYSE: APP) Board of Directors on Sunday, requesting the retailer consider strategic options, according to the Wall Street Journal. Sources say options include a potential sale. Lion Capital's request comes on the heels of Irving Place Capital's $1.40 per share bid, which American Apparel's Board indicated was too low, according to sources.American Apparel shares closed flat Friday at $1.06.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Posted In: NewsRumorsAsset SalesManagementM&A