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Benzinga's M&A Chatter for Thursday July 9, 2015

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Benzinga's M&A Chatter for Thursday July 9, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday July 9, 2015:

YY Receives'Go-Private' for $68.50/ADS in Cash

The The Going Private Offer:
YY Inc. (NASDAQ: YY) announced Thursday, that its Board of Directors has received a non-binding proposal letter, dated July 9, 2015, from Chairman Jun Lei and CEO David Xueling Li, proposing a "going-private" transaction to acquire all of the outstanding ordinary shares of YY not already beneficially owned by the buyers for $68.50 in cash per ADS. The buyers currently own approximately 35.7% of all the issued and outstanding shares of the company.

The Board intends to form a special committee and will authorize the special committee to retain legal and financial advisors to assist it in evaluating the proposal..

YY shares rose 1.5% Thursday, closing at $59.31.

Anthem, Cigna Reportedly Close to Deal

The Rumor:
Shares of Cigna spiked higher, early Thursday, on a report from CNBC's David Faber, that Anthem is making progress in reaching a takeover deal for Cigna. Faber said also that UnitedHealth Group Incorporated (NYSE: UNH) was looking at Cigna.

Cigna had rejected a $184 per share cash and stock offer from Anthem on June 21.

Cigna shares rose 4% Thursday, closing at $156.56.

Dangdang Receives Preliminary Non-Binding 'Going Private' Proposal for $7.812/ADS

The Going Private Offer:
E-Commerce China Dangdang Inc. (NYSE: DANG) announced that that its Board of Directors has received a non-binding proposal letter, dated July 9, 2015, from Chairwoman Peggy Yu Yu and CEO Guoqing Li proposing a "going-private" transaction to acquire all of the outstanding ordinary shares of the company not already beneficially owned by the buyers $7.812 in cash per ADS.

The buyers currently beneficially own approximately 35.9% of all the issued and outstanding common shares of the company.

The Board intends to form a special committee and will authorize the special committee to retain legal and financial advisors to assist it in evaluating the proposal.

Dangdang shares rose 4% Thursday, closing at $6.77.

Hearing The Deal Says Laredo Petroleum a Takeover Target

The Rumor:
Shares of Laredo Petroleum, Inc. (NYSE: LPI) rose Thursday on a report from the deal that the company could be a takeover target. Laredo has been mentioned previously as a possible acquisition.

The Leon Cooperman's Omega Advisors reported a new 2.1M share stake in February.

Laredo Petroleum shares rose 4.5% Thursday, closing at $11.54.

Posted-In: News Rumors Management M&A Movers

 

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