Market Overview

Benzinga's M&A Chatter for Wednesday October 14, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday October 14, 2015:

Fairchild Said to be In Merger Talks With On Semiconductor, Infineon

The Rumor:
Shares of Fairchild Semiconductor (NASDAQ: FCS) spiked higher Wednesday, on a report from Bloomberg that the company was in merger talks with ON Semiconductor Corp. (NASDAQ: ON) and Infineon Technologies AG (OTC: IFNNY), according to sources. Fairchild is reportedly working with Goldman Sachs to assist in finding a buyer.

Fairchild closed at $16.35 on Wednesday, a gain of 15.5%.

Bank Of America Merrill Lynch Saying Western Digital Justified Paying $100/Share for SanDisk

The Analyst Comments:
SanDisk Corp. (NASDAQ: SNDK) shares rose Wednesday on comments from Bank Of America Merill Lynch that Western Digital (NASDAQ: WDC) would be justified in paying $100 per share for SanDisk. The note says SanDisk would offer Western Digital a leadership position in enterprise SSDs.

On Tuesday, Bloomberg reported that SanDisk had hired a bank to assist in a potential sale of the company, following expressions of interest from Micron Technology Inc. (NASDAQ: MU) and Western Digital Corp. (NASDAQ: WDC), according to sources.

SanDisk closed at $68.70 Wednesday, up 11%.

Hearing Renewed Unconfirmed Takeover Chatter in Seagate

The Rumor:
Shares of Seagate Technology (NASDAQ: STX) rose just after the market open on Wednesday, on renewed, unconfirmed chatter of a potential offer from a private equity firm. Blackstone, TPG Capital, and KKR are said to have been allowed to review Seagate's financial records. Sources says a deal could be done in the range from the upper $50's to the mid $60's.

TPG declined comment on the rumor. Seagate, Blackstone and KKR did not respond to requests for comment.

Seagate closed at $47.80 Wednesday, down 1.5%.

Analog Devices, Maxim Reportedly in Merger Talks

The Rumor:
Analog Devices Inc. (NASDAQ: ADI) and Maxim Integrated Products Inc. (NASDAQ: MXIM) are said to in talks regarding a potential merger, according to sources as reported by Bloomberg on Wednesday. Maxim was conducting a strategic review with the aid of a bank as an advisor and was contacted by Analog Devices. Shares of both Analog Devices and Maxim spiked higher on the report.

Maxim declined comment on the report. Analog Devices didn't respond to a request for comment.

Analog Devices closed at $60.99 Wednesday, a gain of almost 9%. Maxim rose more than 10%, closing at $38.33.

Posted-In: M&A News Rumors Movers


Related Articles (ADI + FCS)

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