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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday, June 21, 2017.
Diageo to Acquire Casamigos for $700M Upfront, $300M in Performance-Related Payments
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The Deal:
Diageo plc (ADR) (NYSE:DEO) will acquire Casamigos, the tequila brand founded by Rande Gerber, George Clooney and Mike Meldmani. The purchase price is $1 billion, plus up to $300 million in performance-based payments over 10 years.
The transaction is expected to close in the second half of 2017.
Diageo closed at $121.75, down $0.43.
Traders Circulate Chatter of Pfizer in Talks to Acquire Bristol-Myers Squibb
The Rumor:
Shares of Bristol-Myers Squibb Co (NYSE:BMY) spiked to a high of $56.58 as traders circulated unconfirmed market chatter of a potential offer from Pfizer Inc. (NYSE:PFE). "Sources" say Pfizer could bid as high as $75 in cash and stock for the maker of Opdivo and Yervoy.
Carl Icahn took a stake in Bristol-Myers Squibb in February.
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Bristol-Myers Squibb closed at $56.07, up $0.41.
Traders Circulate Chatter of Biogen Interest in Acadia
The Rumor:
Shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) traded as high as $30.22, with traders circulating unconfirmed market chatter of a bid from Biogen Inc (NASDAQ:BIIB). "Sources" say the bid could be $42.00 per share.
In February, various reports said the biotech company had been approached by AstraZeneca (NYSE:AZN) and Johnson & Johnson (NYSE:JNJ)
Acadia closed at $29.27, up $1.05.
Sycamore Partners in Advanced Talks to Acquire Staples
The Rumor:
Sycamore Partners is in advanced talks to acquire Staples, Inc. (NASDAQ:SPLS), according to a report from Reuters late Wednesday. A deal could be valued at more than $6 billion and could be announced next week, sources said.
Sycamore beat out Cerberus Capital Managements in an auction process and is finalizing a debt financing package for the deal, according to three sources said.
Staples and Sycamore declined comment on the report.
Staples closed at $8.66 and traded at $9.13 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.