Market Overview

4 M&A Rumors The Markets Are Watching

4 M&A Rumors The Markets Are Watching

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday January 7, 2015.

Hearing Unconfirmed Market Chatter of Possible IBM Bid for Juniper Networks

The Rumor:
Shares of Juniper Networks, Inc. (NYSE: JNPR) surged higher Wednesday, on unconfirmed market chatter that International Business Machines Corporation (NYSE: IBM) has offered $31 per share for the networking company, Investor Elliott Management has been pressing Juniper for a sale.

In November, CEO Shaygan Kheradpir resigned and was replaced by Rami Rahim.

Spokespersons for Juniper and IBM did not respond to requests for comment.

Juniper Networks shares closed Wednesday at $22.30, a gain of more than 2 percent.

Dick's in Early Stage 'Go Private' Talks with PE Firms

The Rumor:
Shares of Dick's Sporting Goods Inc. (NYSE: DKS) spiked higher Wednesday, on a report from Reuters that the company is in the early stage of talks with several private equity firms, related to a potential "go private" deal. Deutsche Bank analyst Mike Baker said a deal for Dick's might be done in mid $60's per share, while RBC mentioned $54 to $60.

A spokesperson for Dick's was not available for comment.

Dick's Sporting Goods shares closed Wednesday at $55.01, a gain of 11 percent.

Chinese Group May Bid $29-$30/Share for Omnivision

The Rumor:
Shares of OmniVision Technologies, Inc. (NASDAQ: OVTI) rose Wednesday, on a report from DealReporter that a Chinese consortium could offer $29 to $30 per share for the developer of digital imaging solutions.

A spokesperson for OmniVision was not available for comment.

OmniVision shares closed Wednesday at $27.49, a gain of 7 percent.

3G Capital Considering Pepsico, Campbell Soup, Kellogg as Potential Takeover Targets

The Rumor:
Brazil's 3G Capital Partners is considering acquiring food or beverage companies, including Campbell Soup Company (NYSE: CPB), PepsiCo Inc. (NYSE: PEP), and Kellogg Company (NYSE: K) according to sources, reported by the Wall Street Journal.

3G reportedly has received pledges from investors totaling $5 billion over the past few weeks for a new takeover fund, though no decision has been made as to the next acquisition move.

Spokespersons for Pepsico and Campbell Soup declined comment on the report. A spokesperson for 3G did not respond to a request for comment.

Pepsico shares closed Wednesday at $95.74, a gain of 3 percent. Campbell Soup shares rose 4.5 percent, closing at $44.94. Kellogg shares gained 2.5 percent to close at $66.01.

Image credit: Gryffindor, Wikimedia

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