Benzinga's M&A Chatter for Thursday June 27, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday June 27, 2013:
Report New York Times to Sell Boston Globe for $100M
Bids for the New York Times (NYSE: NYT)-owned Boston Globe are reportedly in the $100M range, according to the NY Post. The Times paid $1.1B for the Globe in 1993 in a mostly stock transaction.
The New York Times closed at $10.88 Thursday, a gain of $0.03 on average volume.
Hearing Renewed Chatter of Shell Interest in Range Resources
Shares of Range Resources (NYSE: RRC) surged higher early Thursday on renewed chatter of a possible bid by Royal Dutch Shell (NYSE: RDS.A). Shell and Exxon Mobil (NYSE: XOM) have been mentioned previously as potential buyers of Range Resources.
A spokesperson for Royal Dutch Shell declined comment on the rumor. A Range Resources spokesperson was not available for comment.
Range Resources closed at $79.94 Thursday, a gain of $0.39 on 1.5 times average volume.
Report John Malone Contemplating Charter Bid for Time Warner Cable
Shares of Time Warner Cable (NYSE: TWC) spiked higher in afternoon trading Thursday on a Bloomberg report that Liberty Media's (NASDAQ: LMCA) John Malone is exploring the possibility of Charter Communications (NASDAQ: CHTR) acquiring TWC. Liberty owns 27% of Charter.
Spokespersons for Liberty, Charter and Time Warner Cable were not available for comment. A spokesperson for Cablevision (NYSE: CVC), whose shares rose sharply on reports that it was also a target of Charter, declined comment on the Bloomberg report.
Time Warner Cable closed at $108.22 Thursday, a gain of 4.5% on 3 times average volume. Cablevision closed at $16.25 Thursday, a gain of 5.5% on 3.5 times average volume.
Adobe to Acquire Neolane for $600M in Cash
Adobe Systems (NASDAQ: ADBE) announced Thursday it has agreed to acquire privately held Neolane for approximately $600 million in cash. Neolane integrates online and offline marketing data from across an enterprise. The deal is expected to close in July.
Adobe Systems closed at $45.93 Thursday, a gain of $0.25 on average volume.
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