Market Overview

Benzinga's Weekend M&A Chatter


The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday December 24 through Sunday December 27, 2015:

Bridgestone Increases Offer for Pep Boys to $17/Share in Cash

The Offer:
Bridgestone Americas, Inc. and Pep Boys (NYSE: PBY) announced Friday that Bridgestone had increased the offer price to acquire all the outstanding shares of Pep Boys common stock from $15.50 per share to $17.00 per share in cash, or approximately $947 million. That's fifty cents per share higher than Carl Icahn's latest offer of $16.50 per share, presented on December 18.

Icahn has indicated in a filing that he would beat any Bridgestone offer by $0.10 per share, up to $18.10.

Pep Boys rose $0.11 Thursday, closing at $17.51.

Anadigics Received Revised Offer from Excluded Party

The Offer:
Anadigics, Inc. (NASDQ: ANAD) announced Thursday, that it has received a revised offer from an excluded party to acquire along with the amended proposal from the competing bidder that was determined by the Board to be a "superior offer" as disclosed on December 23, 2015.

GaAs Labs announced on Wednesday, it was matching the $0.48 per share offer of competing bidder.

Anadigics closed at $0.55 on Thursday, a gain of 1.79%.

DST Systems Subsidiary ALPS Fund Services to Acquire Kaufman Rossin Fund for $95M in Cash

The Deal:
ALPS, a subsidiary of DST Systems, Inc. (NYSE: DST) and Kaufman Rossin Fund announced Thursday, they have agreed that ALPS will acquire KRFS for $95 million in cash.

The transaction is expected to close in Q1 of 2016.

DST Systems closed at $115.10, a loss of $0.06%.


Related Articles (DST + PBY)

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Posted-In: M&A News Rumors Movers

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