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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, February 15, 2017.
Walmart Acquires Moosejaw for $51M
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The Deal:
Wal-Mart (NYSE:WMT) has acquired Michigan-based outdoor retailer Moosejaw for $51 million. Walmart said, "Moosejaw will continue to operate its site and stores as it has in the past, and will be run as a standalone and complementary brand to our other e-commerce sites."
The deal closed on February 13, 2017.
Walmart closed Wednesday at $68.69, up $0.03.
Dealreporter Reports Possible Procter & Gamble Interest in Church & Dwight
The Rumor:
Shares of Church & Dwight (NYSE:CHD) rose to a high of $49.23 on a DealRepoter story of possible takeover interest from Proctor & Gamble (NYSE:PG). Last May, a report from Negocios.com said Reckitt Benckiser would offer $23 billion for C&D. That's twice the current market cap of $12.62 billion.
Church & Dwight closed at $48.79 on Wednesday, up $0.26.
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Verizon Near Deal to Acquire Yahoo's Core Internet With Price Cut Up to $300M
The Rumor:
Verizon Communications Inc (NYSE:VZ) is said to be close to a revised deal to acquire Yahoo! Inc.'s (NASDAQ:YHOO) core internet business for $250 million to $350 million below the original purchase price of $4.83 billion, according to multiple reports. Following reports of major data breaches, Verizon has sought a reduction in the purchase price for the Yahoo assets.
Sources say the revised deal will involve Verizon and Yahoo sharing the liability from potential lawsuits related to these data breaches.
A Verizon representative declined to comment, while Yahoo did not immediately respond.
Yahoo closed at $45.65 on Wednesday, up 1.4 percent.
Occidental Said to Be Seeking Buyer for S. Texas Assets for ~$500M
The Rumor:
Occidental Petroleum Corporation (NYSE:OXY) is said to be seeking a buyer for approximately 180,000 acres in S. Texas, according to sources as reported by Bloomberg. Occidental is working with Citigroup to handle the sale of the assets, valued at approximately $500 million, the sources said.
Spokespersons for Occidental Petroleum and Citigroup declined comment on the report.
Occidental Petroleum closed at $67.21 on Wednesday, up $0.05.
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.