Benzinga's M&A Chatter for Tuesday June 4, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday June 4, 2013: NY Court Blocks Royalty Pharma's $6.4B Bid for Elan The Restraining Order:
Elan ELN was granted a temporary restraining order Tuesday against Royalty Pharma, blocking its $6.4 billion bid to acquire the Irish drug maker, according to Reuters. Royalty offered $12.50 per share for Elan on May 20. That offer was rejected by Elan's board. Elan also confirmed Tuesday that Royalty Pharma has agreed not to further disseminate its proxy statement, which the Irish High Court on June 3, 2013 restrained Royalty Pharma from distributing to Elan shareholders, until the Irish Takeover Panel has reviewed the contents of the proxy statement for compliance with Irish Takeover Rules disclosure requirement. Elan closed at $12.57 Tuesday, a gain of $0.10 on average volume. Report Sprint Considering Delay of June 12 Vote on Softbank Deal The Rumor:
Bloomberg reported Tuesday that Sprint S may delay its June 12 vote on Softbank's SFTBY takeover proposal. According to sources, the delay would allow Dish Network DISH time to put together a firm offer for Sprint. Dish made the $25.5 billion cash and stock offer on April 15. Softbank announced its $20.1 billion bid for 70% of Sprint on October 15, 2012. A spokesperson for Sprint told Benzinga "We have scheduled the meeting for June 12th and have made no announcement otherwise." Sprint closed at $7.26 Tuesday, a gain of $0.04 on average volume. Salesforce.com to Acquire ExactTarget for $33.75/Share in Cash The Deal:
Salesforce.com CRM and ExactTarget ET announced Tuesday that they have agreed to a Salesforce.com acquisition of ExactTarget for $33.75 per share in cash, or approximately $2.5 billion. The transaction is expected to close in Q2 2013. ExactTarget closed at $33.69 Tuesday, a gain of 52% on 68 times average volume. Salesforce.com lost almost 8%, closing at $37.80. Hearing Unconfirmed Chatter of Coke Bid for SodaStream The Rumor:
A report circulating among trading desks said Coca-Cola KO could offer as much as $100 per share to acquire SodaStream SODA. That rumor may have surfaced after Barclay's David Kaplan raised the price target on SodaStream to $100. Spokespersons for Coke and SodaStream were not available for comment. SodaStream closed at $70.35 Tuesday, a gain of almost 2% on twice average volume.