Market Overview

Benzinga's M&A Chatter for Thursday July 16, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday July 16, 2015:

Hearing Unconfirmed Market Chatter of Bid for GameStop Shares Spike to High from Best Buy

The Rumor:
Shares of GameStop Corp. (NYSE: GME) spiked higher Thursday, on unconfirmed market chatter that Best Buy (NYSE: BBY) was prepared to make an offer to acquire the video game retailer. The rumored offer was $57.25 per share, or $6 billion.

Spokespersons for the companies did not respond to requests for comment.

GameStop shares rose 1.74% Thursday, closing at $47.23.

Microsoft acquires FieldOne

The Deal:
Microsoft Corporation (NASDAQ: MSFT) announced in a blog post Thursday it is acquiring field service management solutions provider FieldOne Systems LLC. Terms of the deal were not disclosed.

Microsoft shares rose 2% Thursday, closing at $46.66.

YY Announces Formation of Special Committee to Reviewing Preliminary Non-Binding 'Go Private' Bid

The Special Committee:
YY Inc. (NASDAQ: YY) announced Thursday, that in response to the previously announced preliminary non-binding $68.50 per ADS going private proposal contained in a letter dated July 9, 2015, the Board has formed a special committee of independent and disinterested directors to review and evaluate the Proposal.

YY shares rose 1.5% Thursday, closing at $58.53.

TECO Energy Responds to Market Rumors

The Rumor:
TECO Energy, Inc. (NYSE: TE) confirmed Thursday, that it is exploring strategic alternatives and has retained Morgan Stanley & Co to assist in the process. SparkSpread had reported that TECO was considering putting itself up for sale.

TECO shares rose more than 15% Thursday, closing at $21.48.

Posted-In: News Rumors M&A Movers


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