Market Overview

Benzinga's M&A Chatter for Tuesday January 19, 2015


The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday January 19, 2015

Brookfield Proposes to Acquire Rouse Properties for $17/Share in Cash

The Offer:
Brookfield Asset Management Inc. (NYSE: BAM) on behalf of a real estate fund managed by Brookfield, announced Tuesday, that the fund has made a proposal to acquire Rouse Properties, Inc.(NYSE: RSE) for $17.00 in cash per share. Under the deal, Brookfield Property Partners L.P. (NYSE: BPY) would retain the Rouse shares that it currently owns.

The Rouse Board established a special committee to review the unsolicited proposal.

Rouse closed at $17.50 up 29.73%.

Zhaophin Receives Non-Binding Offer for $17.50/ADS

The Offer:
Zhaopin Limited (NYSE: ZPIN) announced Tuesday, that its board of director has received a preliminary non-binding proposal letter, dated January 19, 2016, from CDH V Management Company Limited and Shanghai Goliath Investment Management L.P., proposing to acquire all outstanding ordinary shares in Zhaopin not owned by Zhaopin's controlling shareholder SEEK International for $17.50 per ADS in cash.

Zhaopin's Board ‎plans to evaluate the proposal.

Zhaopin closed at $15.74 on Tuesday, up 9.69%.

Acorda to Acquire Biotie Therapies for $25.60/ADS

The Deal:
Acorda Therapeutics, Inc. (NASDAQ: ACOR) and Biotie Therapies Corp. (NASDAQ: BITI) announced Tuesday, that Acorda, either directly or through a wholly-owned subsidiary will make a public tender offer in Finland and in the US to purchase all of the issued and outstanding shares, ADS's, stock options, share units and warrants in Biotie that are not owned by Biotie or any of its subsidiaries.

The price offered for each ADS will be equivalent to $25.60 per ADS in cash.

Biotie Therapies closed Tuesday at $24.62, up 86.52%.

Leidos Near $5B Deal to Merge With Lockheed's IT Businesses

The Rumor:
Leidos Holdings Inc (NYSE: LDOS) is near a deal to merge with Lockheed Martin's (NYSE: LMT) government IT and services businesses under a Reverse Morris Trust, according to sources as reported by Reuters on Tuesday. The sources say the assets could be valued at approximately $5 billion.

Lockheed Martin and Leidos declined comment on the report.

Leidos closed Tuesday at $56.19, up 2.2%.


Related Articles (ACOR + BAM)

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Posted-In: M&A News Rumors Movers

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