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Benzinga's Weekend M&A Chatter

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday August 7 through Sunday August 9, 2015

Snap-on Acquires Ecotechnics for $13M in Cash

The Deal:
Snap-on Incorporated (NYSE: SNA) announced Friday, that it acquired the assets of Ecotechnics S.p.A., a designer and manufacturer of automatic vehicle air conditioning maintenance equipment, for approximately $13 million in cash.

Snap-on closed at $166.15 on Friday, a gain of $0.19.

Berkshire Hathaway Nears Deal to Acquire Precision Castparts

The Rumor:
Berkshire Hathaway Inc (NYSE: BRK.A) is close to a deal to acquire Precision Castparts Corp (NYSE: PCP), as reported by the Wall Street Journal on Saturday. The deal that could be valued at more than $30 billion, according to sources. That would indicate a price of roughly $215 to $220 per share for Precision Castparts.

The deal could be announced as soon as this week.

Precision Castparts closed at $193.88 Friday, a gain of $0.07.

Symetra in Talks to Sell Itself

The Rumor:
Share of Symetra Financial Corp (NYSE: SYA.N) spiked higher late Friday, on a report from Reuters that the ensurer has been considering a potential sale, according to sources. Symetra reportedly has been working with investment bankers and has spoken to possible buyers, though a deal is not imminent, said the sources.

A spokesperson for Symetra declined comment on the rumor.

Symetra closed at $26.77 Friday, a gain of 9.5%.

Pearson Preparing to Sell Economist Stake for £400m

The Rumor:
Pearson (NYSE: PSO) could announce the sale of its stake in the publisher of The Economist for £400m, as soon as this week, according to sources, as report by Financial Times. The likely buyers are the De Rothschild family and Exor (OTC: EXOSF), say the sources.

Pearson agreed last month to sell the Financial Times to Nikkei last month for £844m.

Pearson closed at $18.45 Friday, a loss of $0.05.

Posted-In: M&A News Rumors

 

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