Market Overview

Benzinga's M&A Chatter for Wednesday November 20, 2013

Benzinga's M&A Chatter for Wednesday November 20, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday November 20, 2013:

Report Post's Bill Stiritz Seeking LBO of Herbalife

The Rumor:
Shares of Herbalife (NYSE: HLF) rose 6% Wednesday on a report from Fox Business' Charlie Gasparino that Post Holdings (NYSE: POST) CEO Bill Stiritz was seeking a leveraged buyout of the company. Stiritz filed a 13D on Tuesday disclosing a 6.38% Stake in Herbalife, up from the 5% he had acquired in September. Gasparino reported that Stiritz has approached Singapore wealth fund Temasek to assist in the acquistion.

Spokespersons for Herbalife and Temasek declined comment.

Herbalife closed Wednesday at $70.24, a gain of 6.5%.

Eni Sells 60% Stake in Arctic Russia to Novatek-GazpromNeft JV for $2.94B

The Deal:
Eni (NYSE: E) signed an agreement Wednesday to sell its 60% stake in Arctic Russia, owner of 49% of Severenergia, to Yamal Development, a joint venture of Novatek and GazpromNeft (OTC: OGZPY) for $2.94 billion. The deal is subject to necessary approvals.

Eni closed Wednesday at $48.35, a loss of $0.42.

Devon Energy Confirms Acquisition of Eagle Ford Assets from GeoSouthern Energy for $6B in Cash

The Deal:
Devon Energy (NYSE: DVN) announced Wednesday it has agreed to acquire GeoSouthern Energy's assets in the Eagle Ford oil play for $6 billion in cash. The deal had been first reported by WSJ on Tuesday.

Devon Energy, which traded as high as $65.60, closed Wednesday at $62.75, a loss of $0.02.

Posted-In: News Rumors M&A Global Movers


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