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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 15, 2013:
Hearing Chatter Cisco May Bid $75/Share to Acquire Red HatThe Rumor:
Shares of Red Hat
RHT rose early Wednesday on unconfirmed market chatter that Cisco
CSCO may bid $75 per share to acquire the Linux provider. IBM
IBM and Oracle
ORCL have both been previously rumored as potential buyers for Red Hat.
Spokespersons for Red Hat and Cisco declined comment on the rumor.
Red Hat closed at $54.16 Wednesday, a gain of 2.73% on 1.5 times average volume.
Report Dish Lined Up 4 Banks to Finance $25.5B Bid for SprintThe Interview:
Dish Network
has reportedly lined up four banks to provide financing for a $25.5 billion bid for Sprint
S, according to
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. SoftBank
SFTBY has agreed to buy a 70% share in Sprint for $20.1 billion. Dish founder Charlie Ergen said last week that his focus was on acquiring Sprint, and would consider selling the company altogether if he loses the Sprint deal.
Sprint closed at $7.25 Wednesday, a loss of $0.01 on average volume.
Report Cubist Bid $20/Share for OptimerThe Rumor:
Shares of Optimer Pharmaceuticals
OPTR surged higher late Wednesday, on a report from
Reuters that Cubist Pharmaceuticals
CBST had made an offer of $20 per share for Optimer. The bid was made and rejected in the summer of 2012, according to sources.
On Monday,
Bloomberg reported that AstraZeneca
AZN and Cubist, were among companies that have submitted bids for Optimer.
Optimer Pharmaceuticals closed at $16.18 Wednesday, a gain of 13.5% on almost 6 times average volume.
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