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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday March 31, 2015:
Charter to Acquire Bright House Networks for $10.4BThe Deal:
Charter Communications, Inc.
CHTR, its subsidiary, CCH I, LLC and Advance/Newhouse Partnership, parent company of Bright House Networks, announced Tuesday, that Charter will acquire Bright House Networks for $10.4 billion, including $2 billion in cash. Liberty Broadband Corporation
LBDRA has agreed to purchase, upon closing of the Bright House transaction, $700 million of newly issued New Charter shares.
Charter gained almost 6% Tuesday, closing at $194.31.
Baird Says DST Will be Acquired by End of 2015 for $160/ShareThe Analyst Comment:
Shares of DST Systems Inc.
DST, rose early Tuesday, on a note from Baird, which indicated the company could be acquired by the end of 2015 for $160 per share.
A spokesperson for DST had no immediate comment.
DST shares gained $1.51 Tuesday, closing at $110.71.
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Shares of Momenta Pharmaceuticals Inc.
MNTA spiked higher early Tuesday, on a report from
The Deal that the company was a potential takeover target for Teva Pharmaceutical Industries Limited
TEVA and Actavis plc
ACT.
A spokesperson for Teva declined comment on the rumor, while Momenta and Actavis did not respond to requests for comment.
Momenta gained $0.02 Tuesday, closing at $15.20.
Endurance Specialty Holdings to Acquire Montpelier Re Holdings for $40.24 in Cash, Stock DealThe Deal:
Endurance Specialty Holdings Ltd.
ENH and Montpelier Re Holdings Ltd.
MRH announced Tuesday, an agreement, whereby Endurance will acquire Montpelier for $40.24 per share, consisting of 0.472 shares of Endurance and $9.89 in cash for each Montpelier common share. The deal has an aggregate value of $1.83 billion, based on Endurance`s closing price on March 30, 2015.
The deal is expected to close in Q3 of 2015, subject to approval of both companies` shareholders.
Montpelier Re Holdings gained $0.29 Tuesday, closing at $38.44.
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