Benzinga's M&A Chatter for Tuesday October 20, 2015

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday October 20, 2015:

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PMC-Sierra, Inc.

announced Tuesday, that it has received an unsolicited proposal from Microsemi Corporation

to acquire all of the outstanding shares of PMC common stock for $8.75 in cash and 0.0736 of a share of Microsemi common stock for each share of PMC common stock held at the close of the transaction. The proposal is valued at $11.35 per share of PMC common stock, based on the closing price on October 19, 2015. PMC announced on October 5, 2015, that it had entered into a merger agreement with Skyworks Solutions, Inc.

under which Skyworks would acquire all of the outstanding shares of PMC common stock for $10.50 per share in cash. PMC's board of directors is evaluating Microsemi's proposal to determine whether Microsemi's proposal is superior to the Skyworks agreement. PMC-Sierra closed at $11.59 on Tuesday, a loss of 1%.

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AmSurg Corp.

announced a Tuesday, a proposal to combine with Team Health Holdings, Inc.

for 0.768 AmSurg shares per share, plus $11.49 per share in cash. The offer has a total value of $71.47 per TeamHealth share, for a total enterprise value of $7.8 billion, based on AmSurg's closing stock price on Monday. Team Health confirmed receipt of the unsolicited proposal from AmSurg Corp. and stated that it is the same proposal that its Board previously reviewed, considered and rejected as not being in the best interest of TeamHealth and its stockholders. Team Health closed at $62.59, up 19%.

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FedEx Corporation

, FedEx Acquisition B.V. and TNT Express N.V.

jointly confirmed Tuesday, that they have not received a Statement of Objections from the European Commission with regard to FedEx' proposed acquisition of TNT. FedEx and TNT continue to expect that the Offer will close in H1 of 2016. FedEx closed at $154.00 Tuesday, up 1%.