Benzinga's M&A Chatter for Tuesday March 26, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday March 26, 2013:
BioFuel Energy Explores Potential Sale of Plants
The Strategic Alternatives:
BioFuel Energy (NASDAQ: BIOF) announced Tuesday that it has engaged Piper Jaffray & Co to act as its financial adviser to assist the company in exploring strategic alternatives, including a potential sale of one or both of its plants.
BioFuel Energy closed at $5.64 Tuesday, a gain of almost 2% on lower than average volume.
Greenbriar Commences Tender Offer for All Outstanding Shares of EDAC Technologies @$17.75/Share
The Tender Offer:
EDAC Technologies (NASDAQ: EDAC) and Greenbriar Equity Group LLC announced Tuesday that GB Aero Engine Merger Sub Inc. has commenced the previously-announced tender offer for all of the outstanding shares of common stock of the Company at a price of $17.75 per share, net to the seller in cash without interest. GB Aero Engine Merger Sub Inc. and its parent company, GB Aero Engine LLC, are affiliated with Greenbriar.
Edac Technologies closed at $17.73 Tuesday, a gain of $0.05 lower than average volume.
Founder Maguire Plans Bid for LA Office Buildings Owned by MPG
Founder Robert F. Maguire III plans a bid for the remaining Los Angeles office buildings owned by MPG Office Trust (NYSE: MPG), according to an email from Maquire. He founded MPG in 1965.
A spokesperson for MPG declined comment on the report
MPG Office Trust closed at $2.70 Tuesday, a gain of 7.50% on 4.5 times average volume.
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