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Benzinga's M&A Chatter for Wednesday November 11, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday November 11, 2015:

Molson Coors to Acquire Full Ownership of MillerCoors JV, Global Miller Brand Portfolio for $12B

The Deal:
Molson Coors Brewing Company (NYSE: TAP) announced Wednesday, that it has reached agreement with Anheuser-Busch InBev SA/NV (NYSE: BUD) to acquire SABMiller plc's (OTC: SBMRY) 58% stake in the MillerCoors joint venture created by SABMiller and Molson Coors in 2008. Molson Coors will also acquire full ownership of the Miller brand portfolio outside of the U.S. and retain the rights to all of the brands currently in the MillerCoors portfolio for the US market, including Redd's and import brands such as Peroni and Pilsner Urquell. The deal is valued at $12.0 billion, and is subject to the closing of AB InBev's acquisition of SABMiller, which is expected in H2 of 2016.

Moslon Coors shares rose more than 4% Wednesday, closing at $92.19.

Kroger to Acquire Roundy's for $3.60/Share in Cash

The Deal:
The Kroger Co. (NYSE: KR) and Roundy's, Inc. (NYSE: RNDY) announced Wednesday an agreement under which Kroger will acquire Roundy's for $3.60 per share in cash. The deal is expected to close before the end of 2015.

Roundy's shares rose 63% Wednesday, closing at $3.57.

AMA Calls on DoJ to Block Aetna/Humana, Anthem/Cigna Mergers

The Letter:
The American Medical Association on Wednesday, announced it had officially asked the Department of Justice to block Aetna's (NYSE: AET) proposed acquisition of Humana (NYSE: HUM) and Anthem's (NYSE: ANTM) proposed acquisition of Cigna (NYSE: CI).

The AMA stated that "the proposed mergers are occurring in markets where there has already been a near total collapse of competition" and "there is no evidence supporting the insurer's claim that the proposed mergers would lead to greater efficiencies and innovative payment and care management programs."

Aetna shares fell more than 3% Wednesday, closing at $105.09. Humana fell 3% to close at $171.10. Anthem fell $1.08, closing at $134.19. Cigna fell almost 2%, closing at $131.81.

IAC Proposes to Acquire Angie's List for $8.75/Share in Cash

The Offer:
IAC/InterActiveCorp (NASDAQ: IACI) proposed Wednsday, to acquire Angie's List, Inc. (NASDAQ: ANGI) for $8.75 per share in cash. IAC has also indicated its willingness to merge Angie's List with IAC's HomeAdvisor via a tax-free stock-for-stock exchange.

Angie's List confirmed receipt of the proposal and indicated it would review and evaluate it.

Angie's List closed at $7.92 on Wednesday and traded as high as $9.25 after-hours.

Apache Rejects Anadarko Approach

The Rejection:
Anadarko Petroleum Corporation (NYSE: APC) confirmed Wednesday, that it had sent Apache Corporation (NYSE: APA) a non-binding offer to acquire the company, in an all-stock transaction at a modest premium. Anadarko stated that its efforts to enter into a mutually acceptable confidentiality agreement to explore the merits of a potential deal, were rejected and the offer was withdrawn.

Anadarko shares fell almost 4%, closing at $61.01, while Apache shares fell more than 7%, closing at $49.40.


Related Articles (AET + ANGI)

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Posted-In: M&A News Rumors Movers

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