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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday, July 18, 2017.
Traders Circulate Chatter of Potential Facebook Bid for Shopify
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The Rumor:
Shares of Shopify (NASDAQ:SHOP) rose as high as $93.90 as traders circulated unconfirmed market chatter of a potential bid from Facebook (NASDAQ:FB). "Sources" said the offer is $15 billion.
Shopify closed at $93.18, up $2.69.
Rocket Fuel to be Acquired by Sizmek at $2.60/Share in Cash
The Deal:
Rocket Fuel (NASDAQ:FUEL) has entered into a definitive agreement to be acquired by Sizmek Inc. for $2.60 per share in cash, via a tender offer. The enterprise value is approximately $145 million.
The parties expect the transaction to be completed in Q4 of 2017.
Rocket Fuel closed at $2.70, up a penny.
Koninklijke Philips to Acquire TomTec Imaging Systems; Financial Details Not Disclosed
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The Deal:
Royal Philips (NYSE:PHG) has signed an agreement to acquire provider of intelligent image analysis software for diagnostic ultrasound, TomTec Imaging Systems. The transaction was expected to be completed on Tuesday. Financial details were not disclosed.
Philips closed at $36.34, down 15 cents.
Crown Castle to Acquire LTS Group Holdings for ~$7.1B in Cash
The Deal:
Crown Castle International Corp. (NYSE:CCI) has entered into a definitive agreement to acquire LTS Group Holdings LLC from Berkshire Partners, Pamlico Capital and other investors for approximately $7.1 billion in cash. Lightower owns or has rights to approximately 32,000 route miles of fiber in markets including Boston, New York and Philadelphia.
The transaction is expected to close by the end of 2017.
Crown Castle closed at $96.64, down 17 cents.
Discovery, Scripps in Merger Talks
The Rumor:
Discovery Communications Inc. (NASDAQ:DISCA) is in talks to merge with Scripps Networks Interactive Inc. (NYSE:SNI), according to sources as reported by the Wall Street Journal. The terms of the potential deal were not known, the sources said.
Bloomberg reported that Viacom Inc. (NASDAQ:VIAB) was also in talks to merge with Scripps.
Scripps closed at $67.02 on Tuesday and traded at $76.85 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.