Market Overview

Benzinga's Weekend M&A Chatter

Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday August 8 through Sunday August 10, 2014:

Market Chatter of Kering Bid for Coach

The Rumor:
Shares of Coach (NYSE: COH) surged higher Friday, on unconfirmed market chatter of a potential bid from France's luxury apparel and accessory manufacturer, Kering (OTC: PPRUY), whose brands include Gucci and Alexander McQueen. The price mentioned was $48.00 per share.

Spokespersons for Coach and Kering declined comment on the rumor.

Coach closed Friday at $36.71, a gain of more than 5%.

Hearing Renewed Takeover Chatter in Anadarko Petroleum

The Rumor:
Shares of Anadarko Petroleum (NYSE: APC) rose Friday, on renewed chatter of a potential bid from Exxon Mobil. On July 22, there was unusual activity in the January 2016 $160 call option.

Spokespersons for the companies were not available for comment.

Anadarko Petroleum closed at $109.23 Friday, a gain of almost 2%.

Kinder Morgan to Combine Four Publicly-Traded Companies in ~$70B Deal

The Deal:
Kinder Morgan, Inc. (NYSE: KMI), Kinder Morgan Energy Partners, L.P. (NYSE: KMP), Kinder Morgan Management, LLC (NYSE: KMR) and El Paso Pipeline Partners, L.P. (NYSE: EPB) announced Sunday, that KMI will acquire all of the outstanding equity securities of the three publicly-traded units, in a deal valued at approximately $70B.

KMP unitholders will receive 2.1931 KMI shares, plus $10.77 in cash for each KMP unit, valued at $89.98 per unit. KMR shareholders will receive 2.4849 KMI shares for each share of KMR, valued at $89.75 per share. EPB unitholders will receive .9451 KMI shares, plus $4.65 in cash for each EPB unit, valued at $38.79 per unit.

The transactions are expected to close by the end of 2014.

Kinder Morgan closed Friday at $36.12, a gain of more than 2%.

Posted-In: M&A News Rumors Options Markets Movers


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