Market Overview

Benzinga's M&A Chatter for Thursday May 2, 2013

Benzinga's M&A Chatter for Thursday May 2, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 2, 2013:

Hearing Unconfirmed Market Chatter of Potential Oracle Bid for F5 Networks

The Rumor:
Shares of F5 Networks (NASDAQ: FFIV) spiked higher in early trading on Thursday on reports of a possible bid by Oracle (NASDAQ: ORCL) or Cisco (NASDAQ: CSCO), according to unconfirmed sources. The rumored bid is $100 per share. F5 was the subject of a takeover rumor involving Cisco in May 2012.

Spokespersons for F5, Oracle and Cisco were not available for comment.

F5 Networks closed at $74.50 Thursday, a gain of $0.38 on almost average volume.

Hearing Unconfirmed Market Chatter of Potential Bid by IBM for Rackspace

The Rumor:
Shares of Rackspace (NYSE: RAX) traded higher Thursday on chatter of a potential bid by IBM. Raxspace has reportedly hired Goldman Sachs as an advisor to handle a deal, according to unconfirmed sources.

A Rackspace spokesperson declined comment on the rumor. An IBM spokesperson was not available for comment.

Rackspace closed at $49.99 Thursday, a gain of 2% on average volume.

Oil States International Cancels Out of Conference

The Conference Cancellation:
Shares of Oil States International (NYSE: OIS) surged higher Thursday on a report it had cancelled out of ISI's Bermuda Energy Conference on May 7-10th. OIS is still scheduled to present at the Susquehanna Energy Conference on May 13-14th.

Oil States International closed at $91.99 Thursday, a gain of 2.5% on 3 times average volume.

Hain Celestial Acquires Ella's Kitchen Group

The Deal:
The Hain Celestial Group (NASDAQ: HAIN) announced Thursday the acquisition of Ella's Kitchen Group Limited and the formation of the Global Infant, Toddler & Kids Division under Hain Celestial US. Ella's Kitchen is a manufacturer and distributor of premium organic baby food under the Ella's Kitchen brand. It generated approximately $70 million in sales in calendar year 2012 and is expected to be accretive to Hain Celestial's earnings in fiscal year 2014 by $0.05 to $0.08 per diluted share. Details of the transaction were not disclosed.

Hain Celestial Group closed at $94.89 Thursday, a loss of $0.73 on average volume.

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


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