Market Overview

Benzinga's M&A Chatter for Thursday October 29, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday October 29, 2015:

Pfizer, Allergan Confirm Preliminary Friendly Discussions

The Discussions:
Allergan plc (NYSE: AGN) confirmed Thursday, that it has been approached by Pfizer Inc. (NYSE: PFE) and the companies are holding friendly talks regarding a potential merger. Allergan says no agreement has been reached and it is uncertain if there will be an agreement.

Pfizer also confirmed the discussions, but would not speculate on potential terms. Dow Jones first reported late Wednesday on rumor of the talks.

Pfizer s6:40 PM 10/29/2015hares fell almost 2% Thursday, closing at $34.77. Allergan rose 6%, closing at $304.38.

Hearing Renewed Takeover Chatter in Anadarko Petroleum; Chevron Rumored Buyer

The Rumor:
Chevron Corp. (NYSE: CVX) is in advanced acquisition talks with Anadarko Petroleum Corp. (NYSE: APC), according to unconfirmed market chatter. Sources say Chevron could make a deal for Anadarko at approximately $83 per share in cash and stock.

Anadarko closed at $67.58 Thursday, up 3%.

KeyCorp in Advanced Talks to Acquire First Niagara Financial Group

The Rumor:
KeyCorp (NYSE: KEY) is in talks to acquire First Niagara Financial Group Inc., (NASDAQ: FNFG), according to sources, as reported by the Wall Street Journal on Thursday. A deal could be announced on Friday, the sources said.

First Niagra shares fell 4% Thursday to close at $10.38.

Wal-Mart Said to have Interest in Acquiring Whole Foods

The Rumor:
Shares of Whole Foods Market, Inc. (NASDAQ: WFM) spiked higher on Thursday, on unconfirmed market chatter of an approach from Wal-Mart Stores (NYSE: WMT). According to sources, Wal-Mart has made an unsolicited offer of $45.50 per share cash.

Whole Foods is a frequent takeover name, with Publix mentioned must often as the rumored buyer. Whole Foods and Wal-Mart did not respond to requests for comment.

Whole Foods shares rose $0.01 Thursday to close at $30.15.


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