Market Overview

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

Share:
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.

 

Related Articles (DTEGY + DPSGY)

View Comments and Join the Discussion!

Posted-In: M&A News Rumors Management Insider Trades Movers

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com