Benzinga's M&A Chatter for Tuesday January 14, 2014
The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday January 14, 2014:
Time Warner Cable Rejects Charter's Most Recent Offer
Time Warner Cable (NYSE: TWC) formerly rejected the latest offer from Charter Communications (NASDAQ: CHTR) late Tuesday. The nation's second-largest cable operator stated: "There was nothing in Charter's presentation and call today that changes the fact that its proposal is grossly inadequate."
Charter announced in a presentation today, it is offering $82.54 per share in cash, plus 0.373 Charter shares, valued at $49.96 per share, for a total offer of $132.50.
Time Warner Cable, which has indicated it was looking for a cash and stock deal around $160, said "We are confident in our standalone plan and we are not going to let Charter steal the company.”
Time Warner Cable closed Tuesday at $136.00, a gain of 2.72%.
Verisk Analytics to Acquire EagleView Technology for $650M in Cash
Verisk Analytics (NASDAQ: VRSK) announced Tuesday, it has agreed to acquire EagleView Technology, parent company of Pictometry International, for $650 million in cash. The deal is expected to close by July 15, 2014.
Verisk Analytics closed Tuesday at $63.00, and traded up another 1% after-hours.
Alnylam Aeropostale Shares Spike Higher After-Hours on Report Company Considering Sale
Shares or Aeropostale (NYSE: ARO) rose sharply after hours Tuesday, on a report from Bloomberg, the company is under pressure from an activist investor to consider a sale.
Aeropostale reportedly contacted at least two PE firms, according to sources. The company confirmed on January 9 that they had decided not to participate in the ICR XChange Conference.
Aeropostale closed Tuesday at $7.73, and traded up as much as 10% after hours, hitting a high of $8.48.
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