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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, October 25, 2016:
Hearing Chatter Of Las Vegas Sands Bid for MGM Resorts
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The Rumor:
Shares of MGM Resorts (NYSE: MGM) spiked to a high of $26.36 Tuesday, on unconfirmed market chatter of a potential bid from Las Vegas Sands (NYSE: LVS). "Sources" say the offer is $40 per share.
MGM closed at $26.15 on Tuesday, down $0.16.
Energy Transfer Partners to Acquire Certain Interests in PennTex Midstream Partners for ~$640M
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The Deal:
Energy Transfer Partners, L.P. (NYSE: ETP) announced Tuesday, it has entered into a definitive agreement to acquire certain interests in PennTex Midstream Partners, LP (NASDAQ: PTXP) from various parties for approximately $640 million. The acquisition consideration consists of 50% ETP common units and 50% cash.
The transaction is expected to close in Q4 of 2016.
PennTex Midstream Partners closed at $16.71 on Tuesday, down 1.59%.
Walt Disney Said to have Agreed on Takeover Price for Twitter
The Rumor:
Walt Disney Co (NYSE: DIS) is said to be near a deal to acquire Twitter (NYSE: TWTR), according to sources as reported by Betaville on Tuesday. The sources said both companies agreed on the price late last week.
Neither company provided a response to the rumor.
Twitter closed Tuesday at $17.26 on Tuesday and traded as high as $18.30 after hours.
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.