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Benzinga's M&A Chatter for Monday October 5, 2015

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday October 5, 2015:

Hearing Unconfirmed Market Chatter Warren Eisenberg, Leonard Feinstein May be Stepping Down from Bed Bath & Beyond

The Rumor:
Shares of Bed Bath & Beyond Inc. (NASDSQ: BBBY) rose Monday on unconfirmed market chatter of the company's Co-Chairmen Warren Eisenberg and Leonard Feinstein may be stepping down, according to sources. The company is said to have hired JPMorgan Chase to assist in exploring options, including a potential sale.

Wedbush analyst Seth Basham told Benzinga via email, that such a large LBO, with mulitple parties involved would be a challenge to execute. He did say BBBY might be better off going private, as it would be able to invest in "invest in omnichannel initiatives for the long-term without public market scrutiny."

Bed Bath & Beyond did not respond to a request for comment.

Bed Bath & Beyond closed at $59.40 on Monday, a gain of 3.5%.

Newell Rubbermaid to Acquire Elmer's for $600M

The Deal:
Newell Rubbermaid (NYSE: NWL) has agreed to acquire Elmer's Products, Inc. from an affiliate of Berwind Corporation for $600 million. The deal is expected to close by the end of the year.

Newell Rubbermaid closed at $41.59 Monday, up 2.5%.

Lionsgate, Starz Said to be in Advanced merger Talks

The Rumor:
Lions Gate Entertainment Corp (NYSE: LGF) is said to be in advanced talks to merge with movie channel Starz (NASDAQ: STRZ), according to sources as reported by the LA Times on Monday. Liberty's John Malone has stakes in both companies.

The NY Post reported earlier on Monday that Lionsgate, as well as Amazon.com, Inc. (NASDASQ: AMZN) could be potential suitors for Starz.

Starz closed at $39.07 Monday, and traded at $43.00, after hours.

Posted-In: M&A News Rumors Movers

 

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