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Benzinga's M&A Chatter for Wednesday July 29, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday July 27, 2015:

Solvay to Acquire Cytec for $75.25/Share in Cash

The Deal:
Cytec Industries Inc. (NYSE: CYT) announced Wednesday, it has agreed to merge with Solvay (OTC: SVYZY) for total cash consideration of $5.5 billion or $75.25 per share. The deal is expected to close in Q4 of 2015.

Cytec closed at $74.19 on Wednesday, a gain of 27%.

Mylan Receives Unconditional Clearance from EC on Acquisition of Perrigo

The Approval:
Mylan N.V. (NYSE: MYL) announced Wednesday, that it received regulatory clearance from the European Commission for its proposed acquisition of Perrigo Company plc (NYSE: PRGO).

Mylan closed at $57.24 Wednesday, a gain of 1.5%. Shares of Perrigo closed at $192.83, gaining $0.76.

PartnerRe Open to Acquisition Talks with Exor

The Rumor:
PartnerRe Ltd (NYSE: PRE) is prepared to enter negotiations with Exor SpA (OTC: EXOSF), according to sources as reported by Reuters. Exor's latest offer is $140.50 per share, while Axis Capital Holdings' (NYSE: AXS) merger agreement with PartnerRE is valued at $138.50 per share.

PartnerRe would be required to pay Axis $280 million plus an additional $35 million in legal and other fees to break the deal.

PartnerRe closed Wednesday at $135.56, a gain of $0.28.

Posted-In: M&A News Rumors Movers


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