Benzinga's M&A Chatter for Tuesday August 2, 2016


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.


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 2, 2016:Biogen Sees Takeover Interest from Allergan, Merck

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

The Rumor:
Shares of Biogen (NASDAQ: BIIB) spiked sharply higher on Tuesday, as the Wall Street Journal reported takeover interest from Allergan (NYSE: AGN) and Merck (NYSE: MRK), according to sources. The talks are informal and preliminary, the sources said. RBC said Biogen could be worth $375 to $475 per share in a takeover. CNBC's Meg Tirell later twweted that Allegan was unlikely to pursue a Biogen deal, accoding to a source. Biogen closed at $330.11 on Tuesday, up 9.37%.Cheetah Mobile Acquires Global News Aggregator App Maker 'News Republic' for $57M

Want Private Access to Benzinga Analyst?

Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.


The Deal:
Cheetah Mobile (NYSE: CMCM) announced Tuesday, it will acquire News Republic for $57 million. Based in Bordeaux, France, News Republic publishes news apps. Cheetah Mobile closed at $10.58 on Tuesday, up 4.75%.Enbridge Said to Acquire Stake in EnBW Offshore Wind Park ProjectThe Rumor:
Enbridge (NYSE: ENB) is said to have won the auction to acquire a stake in EnBW's Hohe See offshore wind power projects, according to a source as reported by Reuters on Tuesday. Enbridge and Australia's Macquarie were competing for up to a 49.9% stake, the sources said.The project is expected to cost as much as $2.24 billion and produce power for 560,000 homes. Enbridge closed Tuesday at $40.41, up 1%.

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.


Posted In: NewsRumorsM&AMovers