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 Monday, May 15, 2017.
Thermo Fisher to Acquire Patheon for $35/Share Cash
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 Deal:
Thermo Fisher Scientific Inc. (NYSE:TMO) and Patheon N.V. (NYSE:PTHN) announced that their boards of directors have approved Thermo Fisher's acquisition of Patheon via a tender offer for $35.00 per share in cash. The total purchase price is approximately $7.2 billion, including the assumption of approximately $2.0 billion of net debt.
The transaction is expected to be completed by the end of 2017, subject to regulatory approval.
Patheon closed at $34.60, up $8.60.
China Automotive Systems Received an Acquisition Offer by the Company's Chairman for $5.45/Share
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
The Offer:
China Automotive Systems, Inc. (NASDAQ:CAAS) announced that its Board of Directors has received a preliminary non-binding proposal letter, dated May 14, 2017, from its Chairman, Mr. Hanlin Chen, to acquire all of the outstanding shares of common stock of the Company not already beneficially owned by Mr. Chen for $5.45 per share in cash. Mr. Chen's group currently own approximately 56.4% of the issued and outstanding shares of common stock. The Board has established a special committee of the Board to review the proposal.
The Company says no decisions have been made by the Special Committee or the Board with respect to the Company's response to the proposal and there is no guarantee that this or any other transaction will be approved or consummated.
China Automotive System closed at $5.10, up $0.65.
La Quinta to Explore Sale
The Rumor:
La Quinta Holdings Inc (NYSE:LQ) is said to be exploring a sale, according to sources as reported by Reuters. La Quinta reported in January it would spin off its real estate assets as a separate company. That filing is expected to happen in Q2.
La Quinta declined comment on the report.
La Quinta closed at $15.17, up $1.80
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.