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Benzinga's M&A Chatter for Tuesday November 12, 2013

Benzinga's M&A Chatter for Tuesday November 12, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 12, 2013:

Hearing Chatter of PE Interest in Ellie Mae

The Rumor:
Shares of mortgage software company Ellie Mae (NYSE: ELLI) soared Tuesday on a report from Inside Mortgage Finance that at least three firms had interest in acquiring the company. On August 8, Bloomberg reported that Ellie Mae was interviewing advisors to handle a potential sale. On September 3, Reuters reported the company had hired Morgan Stanley.

A spokesperson for one of the rumored potential bidders, Silver Lake, declined comment on the rumor. An Ellie Mae spokesperson was not available for comment.

Ellie Mae shares traded as high as $29.72 Tuesday and closed at $26.85, up $3.34.

DISH Won't Rule Out T-Mobile Acquisition

The Chairman Comments:
Shares of T-Mobile US (NASDAQ: TMUS) traded as high as $27.26 Tuesday afternoon on comments by DISH Network (NASDAQ: DISH) Chairman Charlie Ergen that acquiring the wireless company is still 'on the table.' DISH had failed in an attempt to acquire Sprint (NYSE: S).

T-Mobile US closed Tuesday at $26.09, a loss of more than 3%.

AMR, US Airways Announce Settlement With DOJ, State Attorneys General on Merger Litigation

The Settlement:
AMR Corporation (OTC: AAMRQ) and US Airways Group (NYSE: LCC) announced Tuesday that the airlines have settled the litigation brought by the U.S. DOJ, the States of Arizona, Florida, Michigan, Tennessee, Pennsylvania, Virginia, and the District of Columbia, challenging the merger of the airlines.

Under the terms of the settlement, the airlines will divest 52 slot pairs at Washington Reagan National Airport, 17 slot pairs at New York's LaGuardia Airport and certain gates and related facilities to support service at those airports. In addition, airlines will divest two gates and related support facilities at each of Boston Logan International Airport, Chicago O'Hare International Airport, Dallas Love Field, Los Angeles International Airport, and Miami International Airport.

The merger is expected to close in December 2013.

US Airways Group closed Tuesday at $23.52, a gain of 1%.

Eminence Capital Sends Second Letter to Men's Wearhouse Urging Consideration of Merger with Jos A Bank

The Receipt of Proposal:
Shares of Men's Wearhouse (NYSE: MW) spiked higher Tuesday on a report from CNBC's David Faber that Eminence Capital sent a second letter to Men's Wearhouse CEO Doug Ewert, saying they expect the company will consider all options, including a possible merger with Jos. A. Bank (NASDAQ: JOSB), before the November 14 deadline. On October 9, Men's Wearhouse rejected Jos. A. Bank's $48.00 per share offer.

Men's Wearhouse closed Tuesday at $47.08 a gain of 2.5%.


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