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The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 2, 2016:
Biogen Sees Takeover Interest from Allergan, MerckThe Rumor:
Shares of Biogen
BIIB spiked sharply higher on Tuesday, as the
Wall Street Journal reported takeover interest from Allergan
AGN and Merck
MRK, according to sources. The talks are informal and preliminary, the sources said.
RBC said Biogen could be worth $375 to $475 per share in a takeover. CNBC's Meg Tirell later twweted that Allegan was unlikely to pursue a Biogen deal, accoding to a source.
Biogen closed at $330.11 on Tuesday, up 9.37%.
Cheetah Mobile Acquires Global News Aggregator App Maker 'News Republic' for $57MThe Deal:
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Cheetah Mobile
CMCM announced Tuesday, it will acquire News Republic for $57 million. Based in Bordeaux, France, News Republic publishes news apps.
Cheetah Mobile closed at $10.58 on Tuesday, up 4.75%.
Enbridge Said to Acquire Stake in EnBW Offshore Wind Park ProjectThe Rumor:
Enbridge
ENB is said to have won the auction to acquire a stake in EnBW's Hohe See offshore wind power projects, according to a source as reported by
Reuters on Tuesday. Enbridge and Australia's Macquarie were competing for up to a 49.9% stake, the sources said.
The project is expected to cost as much as $2.24 billion and produce power for 560,000 homes.
Enbridge closed Tuesday at $40.41, up 1%.
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