Market Overview

Benzinga's M&A Chatter for Tuesday March 19, 2013

Benzinga's M&A Chatter for Tuesday March 19, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday March 19, 2013:

Liberty Media to Acquire 27.3% of Charter Communications for $95.50/Share

The Deal:
Charter Communications (NASDAQ: CHTR) and Liberty Media (NASDAQ: LMCA) (NASDAQ: LMCB) confirmed Tuesday that Liberty has entered into a definitive agreement with investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners to acquire approximately 26.9 million shares and approximately 1.1 million warrants in Charter Communications, Inc. for approximately $2.617 billion, which represents an approximate 27.3% beneficial ownership in Charter and a price per share of $95.50. Liberty expects to fund the purchase with a combination of cash on hand and new loan arrangements.

The transaction is expected to close in the first half of the second quarter of 2013. Upon closing, funds managed by Crestview and Oaktree will hold approximately 7.4% and 2.2%, respectively, of Charter's common shares.

Charter Communications closed at $100.38 Tuesday, a gain of over 2% on 4 times average volume.

CBRE Group, Inc. Acquires IMPACT-CORTI

The Deal:
CBRE Group (NYSE: CBG) announced Tuesday the acquisition of IMPACT-CORTI a.s., a firm specializing in property management in the Czech Republic and Slovakia. IMPACT-CORTI has six million sq ft under management and annual revenue of approximately $10 million.

CBRE Group closed at $24.46 Tuesday, a loss of almost 3% on average volume.

Hearing Renewed Takeover Chatter in Life Technologies

The Rumor:
Life Technologies (NASDAQ: LIFE) was the subject of renewed takeover chatter on Tuesday. Reuters reported that Roche (OTC: RHHBY) has hired bankers to handle a bid, while KKR (NYSE: KKR) is exploring a joint bid with Hellman & Friedman. Thermo Fisher (NYSE: TMO), GE (NYSE: GE) and Danaher (NYSE: DHR) have been previously mentioned as potential buyers.

Spokespersons for Life Technologies and Roche declined comment.

Life Technologies closed at $63.58 Tuesday, a gain of 1% on 1.5 times average volume.

Posted-In: M&A News Rumors Global After-Hours Center Movers


Related Articles (CBG + CHTR)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at