Market Overview

Benzinga's M&A Chatter for Thursday January 9, 2014


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday Janaury 9.

Publicis, Omnicom Receive Go Ahead to Merge from EC

The Approval:
Omnicom Group (NYSE: OMC) and Publicis Groupe (OTC: PUBGY) announced Thursday that they have received approval from the European Commission to complete their proposed merger. The deal has already been approved in Australia, Brazil, Canada, Colombia, India, Japan, Mexico, Russia, South Africa, South Korea, Turkey, Ukraine and the expiration of the Hart-Scott-Rodino Antitrust Improvements Act review period in the United-States.

Omnicom Group closed Thursday at $72.24, a gain of 1%.

Material Sciences to be Acquired by New Star Metals Affiliate for $12.75 Per Share

The Deal:
Material Sciences Corporation (NASDAQ: MASC) announced Thursday that it agreed to be acquired by New Star Metals affiliates, Zink Acquisition Holdings and Zink Acquisition Merger Sub Inc. and PE firm Insight Equity Holdings, for $12.75 per share in cash. The fully diluted equity value of the deal is approximately $139 million. MSC may solicit other acquisition proposals during a 35-day “go-shop” period that ends February 12, 2014.

Material Sciences Corporation closed Thursday at $12.73, a gain of more than 13%.

Citi Analyst Says Riverbed Likely to Reject $19/Share Bid from Elliot Management

The Offer:
On Wednesday, Elliot Management made an offer of $19.00 per share to acquire Riverbed Technology (NASDAQ: RVBD). The Riverbed Board said it will review the offer and communicate its views in due course.

On Thursday, Kimberly Watkins, an analyst at Citigroup, said that Riverbed's Board will likely reject Elliott's bid. She feels another buyer could offer $21 to $25 per share, or more. Watkins says Elliott could increase its offer to stay competitive in a bidding war.

Riverbed Technology closed Thursday at $19.54, a gain of $0.01.

Posted-In: News M&A Movers Tech


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