Market Overview

Benzinga's M&A Chatter for Tuesday December 15, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday December 15, 2015:

Inland Real Estate to be Acquired by DRA for $10.60/Share in Cash

The Deal:
Inland Real Estate Corporation (NYSE: IRC) announced Tuesday, that it has agreed to be acquired by real estate funds managed by DRA Advisors LLC or $10.60 per share in cash, in a transaction valued at approximately $2.3 billion, including the assumption of existing debt. Upon completion of the merger, IRC will become a privately-held REIT.

The Merger is expected to be completed in H1 of 2016.

Inland Real Estate rose 7% Tuesday, closing at $10.64

Mountain Tiger International to Acquire Bona for $13.70/ADS

The Deal:
Bona Film Group Limited (NASDAQ: BONA) announced Tuesday, that it has entered into a definitive agreement and plan of merger with Mountain Tiger International Limited and Mountain Tiger Limited, to acquire the company for $13.70 per ADS in cash. Alibaba Pictures Group Limited (NYSE: BABA) is a new investor in the acquiring company.

The merger which is currently expected to close during the second quarter of 2016

Bona Film Group rose 1.8% Tuesday, closing at $13.00.

Rumor of Advance Auto Parts Exploring Sale

The Rumor:
Advance Auto Parts (NYSE: AAP) is said to be exploring a potential sale, according to a source as reported by Street Insider on Tuesday. The source said AAP had been approached by at least one potential buyer, and O'Reilly Automotive (NASDAQ: ORLY) is said to be a possible suitor. A deal could could be announced for as much as $200 per share, the sources said.

Advance Auto Parts declined comment on the rumor, while O'Reilly was not aware of the rumor of a deal with Advance Auto Parts.

Advance Auto Parts spiked as high as $164.25, closing at $156.17, up 5.8%.

Global Payments to Acquire Heartland Payment Systems for $4.3B

The Deal:
Global Payments Inc. (NYSE: GPN) announced Tuesday, that it has entered into a definitive agreement to acquire Heartland Payment Systems, Inc. (NYSE: HPY) for for $100.00 per share or $4.3 Billion. Global Payments will acquire Heartland for 0.6687 shares of Global Payments stock and $53.28 in cash for each share of Heartland stock at closing.

The deal is expected to close in Global Payments' FY 2016 Q4.

Heartland Payment Systems closed at $85.10 on Tuesday, and traded as high as $96.30 after-hours.

Posted-In: M&A News Rumors Movers


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