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Benzinga's M&A Chatter for Wednesday August 27, 2014

Benzinga's M&A Chatter for Wednesday August 27, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday August 27, 2014:

Tyson, Hillshire Announce Agreement With DOJ

The Settlement:Tyson Foods (NYSE: TSN) and Hillshire Brands (NYSE: HSH) confirmed Wednesday, that the companies have agreed with the DOJ upon a proposed settlement which has been filed today in the U.S. District Court for the District of Columbia, in connection with the review of Tyson's proposed acquisition of Hillshire Brands. The DOJ is requiring Tyson Foods to divest Heinold Hog Markets, its sow purchasing business, in order to proceed with its $8.5 billion acquisition of Hillshire.

Tyson expects that it will shortly receive termination of the waiting period under the HSR Act, at which point, the applicable condition to Tyson's previously announced tender offer to purchase all of the outstanding shares of common stock of Hillshire Brands for $63.00 per share in cash subject to the conditions set forth in the Offer to Purchase dated July 16, 2014 with respect to expiration or termination of the waiting period under the HSR Act will be satisfied.

Tyson Foods closed Wednesday at $37.71, a gain of 1.5%, while Hillshire shares gained $0.03, to close at $62.96.

LiveDeal to Purchase for $8/Share in Cash, Notes and Stock

The Deal:
LiveDeal (NASDAQL LIVE) announced Wednesday, that it has acquired online retailer, for a combination of cash, a note, and LiveDeal restricted stock valued at $8 per share.

LiveDeal closed Wednesday at $4.08, a gain of $0.07.

Elizabeth Arden to Evaluate $17.00/Share Tender Offer by Rhone Capital

The Offer:
Shares of Elizabeth Arden (NASDAQ: RDEN) surged higher Wednesday, as Rhône Capital commenced a tender offer to acquire up to approximately 6.4 million shares, or 20% of the outstanding shares of the beauty products company, for $17.00 per share in cash.

Elizabeth Arden Said it Will evaluate the offer.

Elizabeth Arden shares closed Wednesday at $17.79, a gain of 3%.

Report of Potential $40/Share Bid for Tekmira from GSK, Shire

The Rumor:
Shares of Ebola play Tekmira (NASDAQ: TKMR) rose 8% after hours on Wednesday, as the UK's Daily Mail reported potential interest from GlaxoSmithKline (NYSE: GSK) and Shire (NASDAQ: SHPG), which is soon to merge with AbbVie (NYSE: ABBV). According to sources, Tekmira could be worth more than $40 per share.

Tekmira's TKM-Ebola treatment is being developed by Tekmira and the US Department of Defense. On August 7, the FDA modified the clinical hold on the treatment, in order that it might be used to treat the population affected by the West Africa Ebola outbreak.

Tekmira shares closed the regular session Wednesday at $19.75, a gain of more than 3%.


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