Market Overview

Benzinga's M&A Chatter for Tuesday September 15, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday September 15, 2015:

Vimicro Announces Definitive Merger for 'Go Private Deal' at $13.50/ADS

The Going Private Offer:
Vimicro International Corporation (NASDAQ: VIMC) announced Tuesday, that it has entered into a definitive Agreement and Plan of Merger with Vimicro China Limited and Vimicro China Acquisition Limited, pursuant to which Vimicro China will acquire Vimicro for $13.50 per ADS. The Company's board of directors approved the Merger Agreement and the Transaction and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger Agreement and the Transaction.

Vimicro closed at $12.15 on Tuesday, a gain of 2.5%.

Timberline Reports Non-Binding Letter Deal for Purchase by Waterton Precious Metals Fund II Caymen, Private Placement Financing

The Offer:
Timberline Resources Corporation (NYSE MKT: TLR) announced Tuesday, that it has signed a non-binding Letter Agreement pursuant to which Waterton Precious Metals Fund II Cayman, LP has offered to acquire all of the issued and outstanding shares of Timberline's common stock for $0.58 in cash per Timberline share. In connection with the deal, Timberline and Waterton have agreed that Waterton will subscribe for 1,331,861 common shares of Timberline on a private placement basis at a price of $0.375 per share for total proceeds of $499,447.87, representing approximately 9.9% of Timberline's outstanding common shares.

Timberline closed at $0.44 Tuesday, up 25%.

DENTSPLY and Sirona Announce Merger Of Equals

The Deal:
DENTSPLY International Inc.(NASDAQ: XRAY) and Sirona Dental Systems Inc. (NASDAQ: SIRO) announced Tuesday, that the companies will combine in an all-stock merger of equals, with an implied pro forma equity value of approximately $13.3 billion. Under the terms of the agreement, Sirona shareholders will receive 1.8142 shares of DENTSPLY for each existing Sirona share. Upon closing of the transaction, DENTSPLY shareholders will own 58% and Sirona shareholders will own 42% of the combined company.

The combined company will be called DENTSPLY SIRONA and trade on the NASDAQ under the symbol "XRAY". The deal is expected to close in Q1 of calendar 2016

Sirona Dental shares closed at $99.31 Tuesday and traded as high as $103.90 after-hours. Dentsply shares closed at $54.35 and traded as high as $56.85 after-hours.

AMC Networks Reportedly in Talks to Acquire Starz

The Rumor:
AMC Networks Inc. (NASDAQ: AMCX) is in talks to acquire Starz (NASDAQ: STRZA), according to sources as reported by Bloomberg on Tuesday. Billionaire John Malone is Starz' largest shareholder.

Last month, Malone had said that Lions Gate (NYSE: LGF) could buy Starz. Malone has a 3.4% stake in Lions Gate.

AMC Networks shares closed at $74.14 on Tuesday, and traded as high as $76.00 after-hours. Starz closed at $38.79, trading as high as $42.97 after-hours.

Posted-In: M&A News Rumors Movers


Related Articles (LGF + AMCX)

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