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Benzinga's M&A Chatter for Monday April 20, 2015

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Benzinga's M&A Chatter for Monday April 20, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday April 20, 2015:

Raytheon to Acquire Websense from Vista Equity Partners for $1.9B

The Deal:
Raytheon Company (NYSE: RTN) has entered an agreement with Vista Equity Partners to form a joint venture, combining Vista's Websense with Raytheon Cyber Products. Raytheon is contributing approximately $1.57 billion for an 80.3% stake in the joint venture.

The deal is expected to close in Q2 of 2015.

Raytheon shares lost $0.23 Monday, closing at $107.49.

Elon Musk Had a Deal to Sell Tesla to Google in 2013

The Rumor:
Tesla Motors, Inc. (NASDAQ: TSLA) was on the verge of ruin in early 2013, when CEO Elon Musk reportedly began negotiating a deal to sell the company to Google Inc. (NASDAQ: GOOG), according to an excerpt from the upcoming book 'Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future'.

Musk arranged the discussions through his friend Larry Page, in an effort to save the company. Those talks took a turn when Tesla reported its earnings on May 8 and posted an unexpected quarterly profit. Tesla's share price then began a momentous climb, doubling over the next two weeks and hitting a high of $291.42 on September 1, 2014.

Spokespersons for Tesla and Google declined comment on the report.

Tesla shares lost $1.52 Monday, closing at $205.27.

GE in Talks to Sell US Commercial Lending Business

The Rumor:
General Electric Company (NYSE: GE) reportedly is in talks to sell its $74 billion commercial lending business, according to a report from the Wall Street Journal on Monday. GE could sell all or part of the unit to Wells Fargo & Company (NYSE: WFC) or other bidders, according to sources.

The sale would be part of GE's commitment to selling off $200 billion in assets over the next two years.

GE shares lost $0.23 Monday, closing at $27.02.

Xueda Receives Preliminary Non-Binding Proposal to Purchase Co. for $3.38/ADS

The Offer:
Xueda Education Group (NYSE: XUE) announced Monday, that its Board of Directors has received a preliminary non-binding proposal letter, dated April 20, 2015, from Insight Investment Co., Ltd., to acquire all of the

Company's outstanding shares, including ordinary shares represented by American Depositary Shares, for $3.38 per ADS, or $1.19 per ordinary share.

Xueda stated that its has just received the proposal letter and has not had an opportunity to carefully review and evaluate the offer.

Xueda gained 11.7% Monday, closing at $3.15.

 

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