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Benzinga's M&A Chatter for Wednesday May 13, 2015

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Benzinga's M&A Chatter for Wednesday May 13, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday May 12, 2015:

Danaher to Acquire Pall Corp. for $127.20/Share in Cash

The Deal:
Danaher Corporation (NYSE: DHR) announced Wednesday that it has agreed to acquire all of the outstanding shares of Pall Corp. (NYSE: PLL) for $127.20 per share in cash, for a total enterprise value of approximately $13.8 billion, including assumed debt and net of acquired cash. The Wall Street Journal had reported on Monday that a deal was near.

The deal is expected to close around the end of calendar year 2015.

Pall shares closed Wednesday at $123.89, a gain of 4.5%, while Danhaher shares rose 1.5% to close at $87.35.

Owens Illinois Acquires Vitro Feed & Beverage Business for $2.15B

The Deal:
Owens-Illinois, Inc. (NYSE: OI) announced Wednesday, that it has agreed to acquire Vitro`s food and beverage glass container business for approximately $2.15 billion in cash. The deal is expected to close within 12 months.

Owens Illinois shares gained 9% Wednesday, closing at $25.98.

Hearing Unconfirmed Market Chatter of Potential Cisco Bid for FireEye

The Rumor:
Shares of FireEye, Inc. (NASDAQ: FEYE) spiked higher Wednesday, on unconfirmed market chatter of a potential offer from Cisco Systems, Inc. (NASDSAQ: CSCO), according to sources.

Spokespersons for FireEye and Cisco did not respond to requests for comment. Cisco CEO John Chambers stated during the company's conference call, in response to an analyst question
"We won't comment specifically on potential acquisitions, but I wouldn't bet on the one you heard today."

FireEye, shares gained 5% Wednesday, to close at $43.46.

Hearing Unconfirmed Market Chatter of Potential Apple Bid for SanDisk

The Rumor:
Shares of SanDisk, Inc. (NASDAQ: SNDK) surged higher Wednesday, on unconfirmed market chatter of a potential offer from Apple, Inc. (NASDAQ: AAPL), according to sources.

Spokespersons for SanDisk and Apple did not respond to requests for comment.

SanDisk shares gained $0.53 Wednesday, to close at $67.20

Report of $9.25/Share Bid for NTELOS

The Rumor:
Shares of NTELOS Holdings Corp. (NASDAQ: NTLS) rose Wednesday, on a report from FT Alphaville, that Shenandoah Telecommunications is offering around $9.25 per share.

A spokesperson for Shenandoah declined comment on the report, while a nTelos spokesperson was not available

NTELOS shares gained 30% Wednesday, to close at $8.09.

Cypress Semiconductor Offers to Acquire Integrated Silicon Solution for $19.75/Share in Cash

The Offer:
f Cypress Semiconductor Corporation (NASDSQ: CY) proposed Wednesday, to acquire 100% of the outstanding shares of common stock of Integrated Silicon Solution, Inc. (NASDAQ: ISSI) for $19.75 per share in cash. The board of directors of Cypress has approved this proposal. The letter was submitted to ISSI's Executive Chairman and President. Cypress indicated their proposal is "superior to the $19.25 per share sale price ISSI agreed to in the Agreement and Plan of Merger entered into with the "Consortium" on March 12, 2015."

ISSI shares closed Wednesday at $18.74 and traded around $20.00 after-hours.

Posted-In: News Rumors M&A Movers

 

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