Benzinga's M&A Chatter for Friday August 26, 2016


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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday August 26, 2016:Rackspace Hosting to be Acquired by Apollo Global Management for $32/Share in Cash

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The Deal:
Rackspace on Friday announced a transaction to be acquired by certain funds managed by affiliates of Apollo Global Management $32 per share in cash for a total of $4.3 billion. The transaction is expected to close in Q4 of 2016 and subject to regulatory approval in the U.S., EU and Israel. Rackspace closed Friday at $31.50, up 4.34%.Alere Files Complaint Against Abbott Seeking Fulfillment of Terms Under Merger Agreement

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The Complaint:
Alere (NYSE: ALR) announced Friday, that on August 25, 2016, it filed a complaint against Abbott (NYSE: ABT) in Delaware Chancery Court, seeking to compel Abbott to complete the %5.8 billion merger transaction in accordance with its terms. Alere is demanding that Abbott take all actions necessary to promptly obtain all required anti-trust approvals. An Abbott spokesperson responded, saying the lawsuit was "without merit" and it continues to work toward regulatory approvals.Alere closed at $39.55 on Friday, down 2.8%.Transition Therapeutics Shareholders Approve Acquisition by OPKO Health for $1.55/ShareThe Deal Approval:
OPKO Health, Inc. (NASDAQ: OPK) announced Friday that that shareholders of Transition Therapeutics, Inc. (NASDAQ: TTHI), voted to approve the previously announced acquisition agreement. The transaction, under which Opko is acquiring Transition Therapeutics for $1.55 per share, is expected to close on September 1, 2016.Transition Therapeutics closed at $1.49 on Friday, up $0.01%.

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