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Benzinga's M&A Chatter for Tuesday December 2, 2014

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Benzinga's M&A Chatter for Tuesday December 2, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 2, 2014:

Apollo Global Management Most Likely Buyer for PetSmart

The Rumor:
Apollo Global Management NYSE: APO 0% is said to be the most likely winner for PetSmart, Inc. (NASDQ: PETM), according to a source, as reported by the NY Post. The Leon Black-led firm is expected to offer between $78 and $82 per share by the Thursday bid deadline.

Shareholder Jana Partners has been pressing for a sale of the pet supply chain. Both Apollo and PetSmart declined comment.

PetSmart closed Tuesday at $79.08, a gain of $0.47.

Roche to Acquire Ariosa Diagnostics

The Deal:
Roche Holding AG (OTC: RHHBY) announced Tuesday, the acquisition of privately-held molecular diagnostics testing service, Ariosa Diagnostics. Terms were not disclosed.

The transaction is expected to close in December, 2014.

Roche shares closed Tuesday at $37.65, a loss of $0.27.

Otsuka to Acquire Avanir for $17.00/Share in Cash

The Deal:
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) announced Tuesday, that it has agreed to be acquired by Otsuka Holdings Co., Ltd. (OTC: OTSKY) for $17.00 per share in cash, in a transaction which values Avanir at approximately $3.5 billion. Otsuka will launch a tender offer within ten business days to purchase all outstanding shares of Avanir.

The transaction is expected to close in Q1 of 2015.

Avanir shares rose almost 13% Tuesday, to close at $16.92.

Hearing Unconfirmed Market Chatter of Potential Shell Bid for BP

The Rumor:
Shares of BP p.l.c. (NYSE: BP) surged higher Tuesday, on unconfirmed market chatter that Royal Dutch Shell plc (NYSE: RDS-A) could offer as much as $46.00 per share for the UK-based energy company.

Spokespersons for BP and Shell declined comment on the rumor.

BP shares rose more than 2% Tuesday, to close at $40.72.

Posted-In: M&A News Rumors Movers

 

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