Market Overview

Benzinga's Weekend M&A Chatter


The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday September 11 through Sunday September 13, 2015:

Shire Looking for Way to Sweeten Offer for Baxalta

The Rumor:
Shire PLC (NASDAQ: SHPG) is weighing options for sweetening its bid for Baxalta Inc. (NYSE: BXLT), according to sources, as reported by the Wall Street Journal on Sunday. Baxalta rejected Shire's $30 billion all-stock bid in August, saying it significantly undervalued the company. That proposal included a share buyback to return cash to shareholders.

Sources say a revised proposal could put cash into the hands of shareholders sooner than the buyback plan permits, without jeopardizing the tax-free status of Baxter's (NYSE: BAX) spinoff of Baxalta..

Baxalta closed at $35.81 on Friday, a gain of more than 2%.

Solera, PE Firms Can't Agree on Price

The Rumor:
Solera Holdings Inc (NYSE: SLH) has so far failed to agree on an acquisition price with private equity firms, people familiar with the matter said on Friday, as reported by Reuters. Private equity firms Vista Equity Partners and Thoma Bravo reportedly submitted offers that were not acceptable to Solera.

Solera confirmed on August 20, that it formed a special committee and was exploring strategic alternatives.

Solera closed at $49.45 Friday, up almost 4%.

Chico's Reportedly in Talks With PE Firms

The Rumor:
Chico's FAS Inc. (NYSE: CHS) is considering a sale of the company, according to sources reported by Bloomberg late Friday. Sycamore Partners is said to be one of the bidders.

Blue Harbour Group is Chico's largest shareholder and has been pressing for increased shareholder value.

Chico's shares closed at $15.12 Friday, a gain of $0.2%.

Blackstone Said to be Part of Buyout Group for NCR

The Rumor:
Blackstone Group (NYSE: BX) is part of a group that is planning to bid for ATM--maker NCR (NYSE: NCR), according to sources reported by the NY Post on Friday. One sources reports that NCR has signed a deal with an unnamed buyer, who has yet to obtain financing for a deal.

NCR did not respond to a request for comment.

NCR shares rose 3% Friday, closing at $27.24.

Report Microsoft May Bid for AMD

The Rumor:
Shares of Advanced Micro Devices (NYSE: AMD) surged higher Friday, on a report from Fudzill, that Microsoft (NASDAQ: MSFT) is considering a bid for the chip maker, according to sources. The talks have reportedly been ongoing.

AMD declined comment on the report. Microsoft did not immediately respond to a request for comment.

AMD shares closed at $2.01 Friday, a gain of 9%.

Posted-In: News Rumors M&A Movers


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