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Benzinga's M&A Chatter for Tuesday November 11, 2014

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Benzinga's M&A Chatter for Tuesday November 11, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 11, 2014:

Germany Considering Sale of Deutsche Telekom Stake

The Rumor:
Germany is reportedly considering selling its stake in T-Mobile US, Inc. (NYSE: TMUS) parent Deutsche Telekom AG (OTC: DTEGY), along with a stake in Deutsche Post Deutsche Post AG (OTC: DPSGY), according to a document from the country's finance ministry, seen by Reuters.

Germany's 31.7% stake in Deutsche Telekom is worth more than €17 billion. Chancellor Angela Merkel's cabinet is expected to approve plans on Wednesday, to reduce government holdings.

Bill Ackman's Pershing Square Takes Stake in Zoetis

The Stake:
Shares of Zoetis Inc. (NYSE: ZTS) surged higher late Tuesday, on a report from WSJ that Bill Ackman's Pershing Square was taking a $2 billion stake in the health products company, joined by Sachem Head Capital Management, according to sources. Ackman reportedly is looking for a large drug company, such as Valeant Pharmaceuticals International, Inc. (NYSE: VRX), to acquire Zoetis.

Pershing Square later announced that a 13D filing would disclose approximately an 8.5% stake, while Sachem Head Capital Management owns approximately a 1.6% stake in Zoetis.

Zoetis shares rose almost 9% Tuesday, to close at $43.72, while Valeant shares gained 1.5%, closing at $130.03.

Yahoo! to Acquire BrightRoll for ~$640M in Cash

The Deal:
Yahoo! Inc. (NASDAQ: YHOO) announced Tuesday, an agreement to acquire programmatic video advertising platform, BrightRoll, for approximately $640 million in cash. Yahoo expects the acquisition to close in Q1 2015,

Yahoo closed Tuesday at $49.05, a loss of $0.36.

 

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